CashAccounts receivable (net)InventoryLandEquipmentTotalAccumulated depreciationAccounts payableNotes payable-short-termNotes payable-long-termCommon stockRetained earningsTotalDecember 312024$42,0002025$77,800145,00083,000168,00060,000501,000$854,000 $1,232,800202,00020,000788,000$80,000 $111,00048,00085,00030,00066,000169,000417,00074,000$854,000 $1,232,800306,000483,000217,800 Additional data for 2025:1.2.3.4.5.6.7.Net income was $225,000.Depreciation was $31,000.Land was sold at its original cost.Dividends of $81,200 were paid.Equipment was purchased for $84,000 cash.A long-term note for $203,000 was used to pay for an equipment purchase.Common stock was issued to pay a $66,000 long-term note payable.Prepare a statement of cash flows for the year ending December 31, 2025. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)

Cash Accounts receivable (net) Inventory Land Equipment Total Accumulated depreciation Accounts payable Notes payable-short-term Notes payable-long-term Common stock Retained earnings Total December 31 2024 $42,000 83,000 168,000 60,000 501,000 $80,000 48,000 66,000 169,000 417,000 2025 $77,800 145,000 74,000 202,000 20,000 $854,000 $1,232,800 788,000 $111,000 85,000 30,000 306,000 483,000 217,800 $854,000 $1,232,800

Cash Accounts receivable (net) Inventory Land Equipment Total Accumulated depreciation Accounts payable Notes payable-short-term Notes payable-long-term Common stock Retained earnings Total December 31 2024 $42,000 83,000 168,000 60,000 501,000 $80,000 48,000 66,000 169,000 417,000 2025 $77,800 145,000 74,000 202,000 20,000 $854,000 $1,232,800 788,000 $111,000 85,000 30,000 306,000 483,000 217,800 $854,000 $1,232,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

SydMel Ltd Statement of financial position As of 30 June 2020. 2020 2019 Assets Cash at Bank 18000 - Account Receivable 34000 28000 Inventories 112000 96000 Land 40000 80000 Buildings 120000 120000 Accumulated depreciation-Buildings (10000) (6000) Equipment 72000 60000 Accumulated depreciation-Equipment (30000) (18000) Total assets 356000 360500 Liabilities Account Payables 52000 48000 Bank Overdraft - 20000 Equity Share Capital 214000 200000 Retained Earnings 90000 92500 Total liabilities and equity 356000 360500 SydMel Ltd Statement of profit and loss and other comprehensive income For the year ended 30 June 2020. 2020 income $ $ Sales revenue - 445500 Less: expenses Cost of sales 288000 Employee expenses 78000 Interest expenses 5000 Loss on…
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts Receivable Inventory Current Assets Accum.Depreciation Net Fixed Assets Gross Fixed Assets $16,251,665 $20,567,330 Less $7,460,897 $10,117,819 Total Assets O 11.58% O 44.90% O 8.37% $5,268,485 $10,268,485 O 4.35% $2,574,230 $2,314,672 O 6.02% $529,062 $696,685 $8,371,777 $13,279,842 Total Liabilities and Equity What is the common size value for 2022 Notes Payable? $8,790,768 $10,449,511 $17,162,545 $23,729,353 Current Liabilities 2021 Accounts Payable Notes Payable $1,033,110 $1,987,233 2022 $1,673,992 $2,438,271 $2,707,102 $4,425,504 Long Term Debt $9,242,830 $11,468,302 Total Liabilities $11,949,932 $15,893,806 Common Stock ($0.50 par) $1,300,000 $1,600,000 Capital Surplus $1,148,120 $1,800,969 Retained $2,764,493 $4,434,578 Earnings $17,162,545 $23,729,353
Cash Accounts Receivable Inventory Property Plant & Equipment Other Assets Total Assets Valley Technology Balance Sheet As of March 11, 2020 (amounts in thousands) 9,700 Accounts Payable 4,500 Debt 3,800 Other Liabilities 16,400 Total Liabilities 1,700 Paid-In Capital Retained Earnings Total Equity 36,100 Total Liabilities & Equity 1,500 2,900 800 5,200 7,300 23,600 30,900 36,100 Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question. 1. Buy $15,000 worth of manufacturing supplies on credit 2. Issue $85,000 in stock 3. Borrow $63,000 from a bank 4. Pay $5,000 owed to a supplier 5. Receive payment of $12,000 owed by a customer What is the final amount in Total Liabilities? Please specify your answer in the same units as the balance sheet.
KIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 81,500 $ 54,000 Accounts receivable, net 80,000 61,000 Inventory 73,800 101,500 Prepaid expenses 5,400 7,400 Total current assets 240,700 223,900 Equipment 134,000 125,000 Accumulated depreciation—Equipment (32,000) (14,000) Total assets $ 342,700 $ 334,900 Liabilities and Equity Accounts payable $ 35,000 $ 45,000 Wages payable 7,000 17,000 Income taxes payable 4,400 5,800 Total current liabilities 46,400 67,800 Notes payable (long term) 32,000 70,000 Total liabilities 78,400 137,800 Equity Common stock, $5 par value 240,000 170,000 Retained earnings 24,300 27,100 Total liabilities and equity $ 342,700 $ 334,900 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales $ 728,000 Cost of goods sold 421,000 Gross profit 307,000 Operating expenses (excluding depreciation) 77,000 Depreciation expense 68,600 161,400…
SME Balance Sheet 2021 2020 Assets (in millions) Cash 85.960 56.460 Receivables 89.560 80.670 Inventories 55.750 41.260 Other Current Assets 9.950 6.760 Total Current Assets 241.220 185.150 Net Property, Plant, and Equipment 78.970 68.930 Goodwill and Other Intangible Assets 103.110 104.360 Other Non-Current Assets 6.900 4.200 Total Assets 430.200 362.640 Total Liabilities and Shareholders' Equity Payables 83.240 57.48 Current Debt 2.700 2.64 Total Current Liabilities 85.940 60.120 Long-Term Debt 122.000 119.62 Other Liabilities 21.880 22.58 Total Liabilities 229.820 202.320 Common Stock 200.380 160.32 Total Equity 200.38 160.32 Total Liabilities and Equity 430.200 362.640 INCOME STATEMENT 2021 Total Revenue (M) 488.10…
STATEMENT OF CASH FLOW EXAMPLE Kerby Company has prepared the following Balance Sheets for 2023 and 2022. Cash 12/31/23 $ 56 12/31/22 $ 40 Accounts receivable 41 42 Fixed assets 579 465 Accumulated depreciation (170) (140) $506 $407 Accounts payable Mortgage payable Preferred stock $ 74 $ 60 20 181 Additional Paid-In Capital - preferred 70 Common stock Retained earnings 100 61 ២៩៩៩88 100 100 $506 $407 1. On 8/1/23, Kerby sold a fixed asset with a cost of $91 and book value of $66 for $67. 2. Retained Earnings was adjusted by dividends and net income only. 3. Net Income in 2023 was $80. a. Net Cash Provided by Operations is $ b. Net Cash Used by Investments is $ c. Net Cash Provided by Financing is $
Cash Accounts receivable (net) Other current assets Investments Property, plant, and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Blue Corporation Balance Sheets December 31 Net income 2025 $31,000 $21,000 51,000 95,000 60,000 500,000 $86,000 150,000 370,000 $737,000 $612,000 $81,000 325,000 176,000 $737,000 Blue Corporation Income Statements For the Years Ended December 31 Sales revenue Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 2024 46,000 100.000 2025 75,000 90,000 315,000 $745,000 41,000 704,000 430,000 2023 $19,000 49,000 126,000 114,000 $612,000 $545,000 69,000 2024 50,000 358,000 $545,000 $71,000 55,000 305,000 $605,000 31,000 574,000 355,000 219,000 151,000 274,000 181,000 $93,000 $68,000
Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash For the Years Ended December 31 2025 $ 3,560,000 2,490,000 1,070,000 Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Problem 12-6A (Static) Part 1 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity Receivables turnover ratio Inventory turnover ratio Current ratio Debt to equity ratio 965,000 40,000 0 23,000 9,000 1,037,000 $ 33,000 2024 38.3 times 15.1 times % 2024 $ 3,086,000 1,960,000 1,126,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 2025 39.3 times 19.5 times 868,000 32,000 % 9,000 20,000…
Assets Cash $ 15,050 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable 8,260 13,400 11,100 165,500 (12,000) $201,310 $ 8,180 3,880 4,350 Common stock Retained earnings 21,480 113,900 49,520 $ 201,310 Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 880 shares. Net income for the year was $14,400. Required Compute each of the following: Note: Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45. a. Current ratio per share b. Earnings per share c. Quick (acid-test) ratio d. Return on investment + % % e. Return on equity f. Debt to equity ratio
RITTER CORPORATION Income Statement 2021 Revenue Expenses $ 860 620 Depreciation 101 Net income $ 139 Dividends $ 119 RITTER CORPORATION Balance Sheet December 31 2020 2021 Assets Cash $66 $ 87 Other current assets 176 192 Net fixed assets Total assets Liabilities and Equity Accounts payable 381 401 $ 623 $ 680 Long-term debt Stockholders' equity $ 126 $ 147 151 167 346 366 $ 680 Total liabilities and equity $623 a. What is the change in cash during 2021? b. Determine the change in net working capital in 2021. c. Determine the cash flow generated by the firm's assets during 2021. a. Change in cash b. Change in net working capital c. Cash flow from assets