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Make a Summary of USES and SOURCES of Cash, then make a CASH FLOW STATEMENT, given the Income Statements and Balance Sheets for 2012 and 2013   XYZ Company,  Balance Sheet for 12/31/2012 and 12/31/2013.   2012 2013 Cash $15,000 $14,000 Marketable Securities 6,000 6,200 Accounts Receivable 42,000 33,000 Inventory 51,000 84,000 Prepaid Rent 1,200 1,100 Total Current Assets 115,200 138,300 Gross Plant & Equipment 346,000 360,000 Accumulated Depreciation -60,000 -90,000 Total Assets 401,200 408,300 Accounts Payable 48,000 57,000 Notes Payable 15,000 13,000 Accruals 6,000 5,000 Total Current Liabilities 69,000 75,000 Long Term Debt 160,000 150,000 Common Stockholders Equity 172,200 183,300  Total Liabilities & Equity 401,200 408,300       XYZ Company,  Income Statement  for the Year Ended 12/31/2013       Sales (all credit)   $600,000 Less: Cost Of Goods Sold   460,000 Gross Profit   140,000 Less Operating & Interest Expenses     General & Administrative 30,000   Interest 10,000   Depreciation 30,000   Total    70,000 Earnings Before taxes   70,000 Less: Taxes   27,100 Net Income Available to Common Stockholders   42,900 Less: cash Dividends   31,800 Change in Retained Earnings   11,100

Make a Summary of USES and SOURCES of Cash, then make a CASH FLOW STATEMENT, given the Income Statements and Balance Sheets for 2012 and 2013   XYZ Company,  Balance Sheet for 12/31/2012 and 12/31/2013.   2012 2013 Cash $15,000 $14,000 Marketable Securities 6,000 6,200 Accounts Receivable 42,000 33,000 Inventory 51,000 84,000 Prepaid Rent 1,200 1,100 Total Current Assets 115,200 138,300 Gross Plant & Equipment 346,000 360,000 Accumulated Depreciation -60,000 -90,000 Total Assets 401,200 408,300 Accounts Payable 48,000 57,000 Notes Payable 15,000 13,000 Accruals 6,000 5,000 Total Current Liabilities 69,000 75,000 Long Term Debt 160,000 150,000 Common Stockholders Equity 172,200 183,300  Total Liabilities & Equity 401,200 408,300       XYZ Company,  Income Statement  for the Year Ended 12/31/2013       Sales (all credit)   $600,000 Less: Cost Of Goods Sold   460,000 Gross Profit   140,000 Less Operating & Interest Expenses     General & Administrative 30,000   Interest 10,000   Depreciation 30,000   Total    70,000 Earnings Before taxes   70,000 Less: Taxes   27,100 Net Income Available to Common Stockholders   42,900 Less: cash Dividends   31,800 Change in Retained Earnings   11,100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Make a Summary of USES and SOURCES of Cash, then make a CASH FLOW STATEMENT, given the Income Statements and Balance Sheets for 2012 and 2013

 

XYZ Company,  Balance Sheet for 12/31/2012 and 12/31/2013.
  2012 2013
Cash $15,000 $14,000
Marketable Securities 6,000 6,200
Accounts Receivable 42,000 33,000
Inventory 51,000 84,000
Prepaid Rent 1,200 1,100
Total Current Assets 115,200 138,300
Gross Plant & Equipment 346,000 360,000
Accumulated Depreciation -60,000 -90,000
Total Assets 401,200 408,300
Accounts Payable 48,000 57,000
Notes Payable 15,000 13,000
Accruals 6,000 5,000
Total Current Liabilities 69,000 75,000
Long Term Debt 160,000 150,000
Common Stockholders Equity 172,200 183,300
 Total Liabilities & Equity 401,200 408,300
     
XYZ Company,  Income Statement  for the Year Ended 12/31/2013
     
Sales (all credit)   $600,000
Less: Cost Of Goods Sold   460,000
Gross Profit   140,000
Less Operating & Interest Expenses    
General & Administrative 30,000  
Interest 10,000  
Depreciation 30,000  
Total    70,000
Earnings Before taxes   70,000
Less: Taxes   27,100
Net Income Available to Common Stockholders   42,900
Less: cash Dividends   31,800
Change in Retained Earnings   11,100
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