Presented below is a condensed version of the comparative balance sheets for Pronghorn Corporation for the last two years atDecember 31.20172016Cash$ 176,700$ 45,000Accounts receivable118,90078,400Investments69,90098,300Equipment349,900176,100Accumulated depreciation-equipment( 95,300)(65,300)Current liabilities135,50094,300Common stock138,10063,700Retained earnings345,300173,300Additional information:Investments were sold at a gain of $ 9,300; no investments were purchased; no equipment was sold; cash dividends paid were $42,500; and net income was $ 214,500. Determine Pronghorn Corporation's free cash flow. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or inparenthesis e.g. (15,000).)Free cash flow$

The movement of money in and out of a business is referred to as cash flow. The cash flow statement…

Answered: December 31. 2017 2016 Cash $ 176,700 $…

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

Question 66 Using Financial Statements for 2018-2019. Net asset value per share of preferred stock for 2019 is $685.71. TRUE OR FALSE?
Exercise 5-9 During the next fiscal year ending June 30. 2020, Texas Company will mmake substantial investments in new product lines and in a modernization program. Significant changes to be made during the year are listed below: 1. Equipment with a net b0ok value of P86,000 will be sold during the year. 2. All of the capital stock of Ohio Company will be exchanged with 5,000 shares of Texas Company at a time when the market value is P40 per share. P250,000 cash will also be given as part payment. 3. Bonds having a face value of P1,000,000 will be issued on June 30, 2020 at 98%. 4. Trading securities carried at market value of P200,000 will be sold for P215,000. 5. New equipment will be purchased during the year. 6. A new building will be purchased at a cost of P1,000,000, although there are no building retirements. 7. Cash dividends will be paid to stockholders. The financial statements forccast for the year ended June 30, 2020 are given next page:
None
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353
Genatron Manufacturing Corporatio Balancs Sh出出t 2017 216 ASSETS Cach $41,752 $51,878 Accts. recelvable 260, 499 200,543 Inventory 450,460 Total current assets B02, 735 702,181 Fixed asset, nct 300, 100 $1,202, 735 $1,002, 381 LIABILITIES AND EQUITY Accts. paysble $172,648 $131,068 Bank loan 91,013 91,013 Accrusis 70,000 50, 000 Total current Isbllties 333,661 272.081 Long-term deot, 12% 398,220 290,301 Common stock, $10 par 300,000 Capital surplus 44,555 44,555 Retained crninga 126,299 95,444 Total liabiliiti &oulty 51.202,735 51,002,381 2017 2016 Net sales Cost of peocS So0 388,411 Gross profit E72.274 Experses: General ancasm nistrative 50.000 Market ng cod ost rer cs 44.5E5 Ceprec at cn v (a) Calculate Genatron's dollar amount of net working capital in each year. Interest E5.024 Earnings tetsre taxes 267.055 227.266 2017 2016 Incometaxes 75 145 Net working capital et ncome %24
Tara Co. Statement of Financial Position As at December 31, 2021 2021 2020 Cash 4,400 6,000 Accounts receivable (net) 9,400 10,600 6,040 4,000 Inventory Prepaid rent 520 1,200 64,840 48,040 - 6,400 - 8,000 960 FVTOCI Investments 800 Property, Plant and Equipment Accumulated depreciation 80.000 62,400 Accounts payable 4,095 3,700 Wages payable Interest payable 365 710 360 300 Unearned revenues 500 700 Dividends payable 560 Long term Note Payable 10,300 52,000 39,000 12,000 8,300 Common shares Retained earnings Accumulated OCI – FVTOCI Investments 9,600 180 90 80,000 62,400 Additional Information for 2021: Machinery costing $10,000 was acquired by issuing a long-term note for the full amount. Machinery with original cost of $5,500 was sold during the year. One FVTOCI investment was sold for $400 during the year. This investment's original cost was $160 and had a carrying value of $360 at the beginning of 2021. Required : Prepare the following parts of the Statement of Cash Flow for the…
Q4 Corporation financial statements at December 31 (in millions) ASSETS Cash LIABILITIES Accounts payable Notes payable Accrued wages Accrued taxes Total current liabilities 20X9 S10 5. 3. 2. 20X8 20X9 $5 10 15 20X8 $ 8 5. 2. 3. $ 4 Accounts receivable Inventory 12 Total current assets Long-term debt Common stock Retained carnings Total Net fixed assets 40 40 20 10 20 10 15 20 Total Sales $95, Cost of goods sold $50, Selling, general, and administrative expenses S15. Depreciation $3,Interest $2, Taxes $10 (a) Prepare a flow of funds statement for 20X9 for the Corporation (b) Prepare a cash flow statement using the indircct method for Corporation.
2021 2$ Cash Available-for-sale debt securities (not cash equivalents) Accounts receivable Inventory Prepaid insurance Land, buildings, and equipment Accumulated depreciation 94,025 23,000 95,000 180,000 2,850 1,280,000 (625,000) $1,049,875 2020 31,955 100,000 81,750 158,500 3,500 1,140,000 (587,000) $ 928,705 $ 163,670 32,000 90,000 Total assets Accounts payable Salaries payable Notes payable (current) Bonds payable Common stock Retained earnings 2$ 89,840 26,000 38,500 215,000 300,000 380,535 300,000 343,035 $ 928,705 ces Total liabilities and shareholders' equity $1,049,875 Additional information for 2021: (1) Sold available-for-sale debt securities costing $77,000 for $83,000. (2) Equipment costing $20,000 with a book value of $6,500 was sold for $8,250. (3) Issued 6% bonds payable at face value, $215,000. (4) Purchased new equipment for $160,000 cash. (5) Paid cash dividends of $27,500. (6) Net income was $65,000. Required: Prepare a statement of cash flows for 2021 in good form…
Quick BQtio all Yearh As Reported Annual Balance Sheet Report Date Scale 2019 2018 2017 2016 Thousands Thousands Thousands Thousands Assets 9,465,000 6,284,000 7,722,000 Cash & cash equivalents Receivables, net 6,756,000 6,867,000 6,283,000 5,614,000 5,835,000 44,269.000 3,623,000 61,897,000 104,317.000 Inventories 44.435,000 1,622,000 61,806,000 105,208,000 17,424,000 4,417,000 43,783,000 43,046,000 Prepaid expenses & other current assets Total current assets 3,511,000 59,664,000 107,675,000 1,941,000 57,689,000 107.710,000 Property & equipment, net Operating lease right-of-use assets Finance lease right-of-use assets, net Property under capital lease & financing obligations, net Goodwill Other long-term assets Total assets 7,078,000 31,181,000 14,822,000 219,295,000 7,143,000 18,242,000 31,073,000 16,567,000 236,495,000 6.468,000 17.037,000 9,921,000 198,825,000 11,798,000 204,522,000 Liabilities & Equity Short-term borrowings Accounts payable Accrued liabilities 575,000 46,973,000…
Could you please help me
The following data is given: December 31, 2021 2020 Cash $59,000 $49,500 Accounts receivable (net) 103,000 59,000 Inventories 93,000 102,000 Plant assets (net) 381,500 320,000 Accounts payable 55,500 40,500 Salaries and wages payable 9,500 5,000 Bonds payable 71,500 68,000 8% Preferred stock, $40 par 100,000 100,000 Common stock, $10 par 120,000 90,000 Paid-in capital in excess of par 80,000 65,000 Retained earnings 200,000 162,000 Net credit sales 940,000 Cost of goods sold 750,000 Net income 82,000 Compute the following ratios: (Round answers to 2 decimal places e.g. 15.25.) (a) Acid-test ratio at 12/31/21 :1 (b) Accounts receivable turnover in 2021 times (c) Inventory turnover in 2021 times (d) Profit margin on sales in 2021 (e) Return on common stockholders' equity in 2021 % (f) Book value per share of common stock at 12/31/21
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

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

December 31. 2017 2016 Cash $ 176,700 $ 45,000 Accounts receivable 118,900 78,400 Investments 69,900 98,300 Equipment 349,900 176,100 Accumulated depreciation-equipment ( 95,300) (65,300) Current liabilities 135,500 94,300 Common stock 138,100 63,700