Reconstruct the company’s comparative balance sheet for 2020/2021 using the information in line with your first name initial and compute and show the missing figures to include the appropriate sign as a positive or negative figure.Prepare a complete statement of cash flows for 2021 using the indirect method using the information in line with your first name initial Financial info to be used by first names with initials (S, W, G, Z)Auga Company LtdComparative Balance SheetDecember 31, 2021 and 202020212020 Increase/(Decrease)Assets15,000220,000340,00010,000105,000Cash175,000230,000310,00030,000105,000860,0001,710,000?Accounts ReceivableInventories?Prepaid expensesIntangible assetsEquipment, net??830,0001,520,000Total AssetsLiabilitiesAccounts payableAccrued liabilitiesIncome tax payableLong-term notes payableStockholders' Equity90,000190,000120,000360,000140,000160,000140,000450,000????Common Stock400,000640,000250,000400,000?Retained earningsTreasury stock(90,000)1,710,000(20,000)1,520,000Total liabilities and stockholders' equity Auga Company LtdIncome StatementYear Ended December 31,2021Revenues and gains:Sales revenue1,900,00020,000Gain on sale of plant assetsTotal revenues and gainsExpensesCost of goods soldDepreciation expenseOther operating expenseTotal expensesIncome before income taxesIncome tax expense1,920,000850,000190,000360,0001,400,000520,000180,000340,000Net IncomeNotesAcquisition of plant asset during 2021320,000Sale proceeds from sale of plant asset120,000Receipt for issuance of notes payable10,000Payment for note payable100,000Dividend paid100,000Book value of equipment sold100,000

Cash flow is the inflow and outflow of cash and helps in determining the net cash balance with the…

Answered: negative figure.

Business

Accounting

negative figure.

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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The is intended to reconcile changes in the balance sheet cash accounts. accounting statement of income accounting statement of changes in equity O capital budgeting cash flow calculation O accounting statement of cash flows Save for Later Attempts: 0 of 3 used Submit Answer
Complete each of the columns on the table below, indicating in which section each item would be reported on the statement of cash flows (operating, investing, or financing), the amount that would be reported, and whether the item would create an increase or decrease in cash. For item that affect more than one section of the statement, indicate all affected. Assume the indirect method of reporting cash flows from operating activities. Enter all amounts as positive numbers. The first item has been completed as an example. Item Statement Section (operating, financing, investing) Amount to Report +/- Effect on Cash Depreciation of $15,000 for the period Operating $15,000 Increase Issuance of common stock for $35,000 $ Increase in accounts payable of $7,000 $ Retirement of bonds at face value of $100,000 $ Purchase of long-term investments for $94,500 $ Dividends declared and paid of $8,300 $ Increase in Prepaid Rent of $4,500 $ Decrease in…
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Instructions: Using the following adjusted trial balance, complete the following for 2019: Use the Jaymie Corporation example in Chapter 3 for guidance. In the absence of other guidance, assume the circumstances for your project are similar to the example shown. 1) Income statement 2) Statement of shareholders' equity 3) Balance sheet 4) In place of completing a full statement of cash flows, review the Statement of Cash Flows within Example 3.9 in the text and advise an error (or at least a questionable treatment) of an item presented by the authors that you have discovered. Create the financial statements using Excel and submit for grading via the assignment in Blackboard. Add your answer to item 4) within the same Excel workbook clearly identified as the response to item 4).…
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How would you prepare a statement of Cash Flows using the following information? Maple Group Ltd Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Increase/Decrease Assets Cash and cash Equivalent $ 51,500.00 $ 45,400.00 $ 6,100.00 Accounts Receivable $ 51,100.00 $ 61,400.00 $ 10,000.00 Inventories $ 61,400.00 $ 51,900.00 $ 9,500.00 Fixed Assets, net $ 160,000.00 $ 110,000.00 $ 50,000.00 Total Assets $ 324,000.00 $ 268,700.00 $ 55,600.00 Liabilities Accounts Payable $ 35,450.00 $ 27,800.00 $ 7,650.00 Accrued liabilities $ 31,000.00 $ 37,550.00 -$ 6,550.00 Long-term notes payable $ 60,000.00 $ 78,540.00 -$ 18,540.00 Stockholders Equity: Common Stock $ 143,050.00 $ 105,110.00 $ 37,940.00 Retained Earnings $ 54,800.00 $ 19,700.00 $…
Title How will what you learned in this problem help you evaluate an investment? Description Preparing the statement of cash flows—direct method Use the Rolling Hills data from Problem 14-27A. Requirements 1. Prepare the 2012 statement of cash flows by the direct method. 2. How will what you learned in this problem help you evaluate an investment?