Problem 10-5 (IAA) Oakwood Company provided the following data for the year: Cash balance, beginning of year Cash flow from financing activities Cash flow from operating activities Cash flow from investing activities Total shareholders' equity, beginning of year 1,300,000 1,000,000 400,000 (1,500,000) 2,000,000 What is the cash balance at the end of current year? a. 1,200,000 b. 1,600,000 c. 1,400,000 d. 1,700,000
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- Financing Activities on the Statement of Cash Flows Cosmat Inc. reported net income of $128,000 for 20Y9. The liability and equity accounts from the company’s comparative balance sheet are as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Accounts payable $57,920 $53,810 Dividends payable 20,000 16,000 Bonds payable 290,000 450,000 Common stock, $10 par value 180,000 120,000 Paid-in capital in excess of par—common stock 328,000 232,000 Retained earnings 488,000 375,000 During the year, the company retired bonds payable at their face amount, declared dividends of $15,000, and issued 6,000 shares of common stock for $26 per share. Prepare the Cash Flows from (used for) Financing Activities section of the statement of cash flows. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Cosmat Inc.Statement of Cash Flows (partial) Cash flows from (used for)…The Cash and Accounts Receivable end-of-year balances for a company are provided below. Current Year Prior Year Cash $45,537 $35,300 Accounts receivable (net) 35,900 71,800 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 % increase,decreaseSelected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 Year 7 Year 6 Current Assets Cash and cash equivalents $ 634,527 $ 335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430 Current Liabilities Short-term borrowings $ 306,376 $ 170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…
- Brief Exercise 11-14 (Algo) Calculate the cash return on assets (LO11-6) The balance sheet of Cranium Gaming reports total assets of $480,000 and $780,000 at the beginning and end of the year, respectively. Sales revenues are $1.90 million, net income is $73,000, and operating cash flows are $59,000. Calculate the cash return on assets, cash flow to sales, and asset turnover for Cranium Gaming. (Enter your answers in dollars, not millions (i.e., $10.1 million should be entered as 10,100,000).) Cash Return on Assets Numerator/Denominator Cash Flow to Sales Numerator/Denominator Numerator/Denominator Amounts Asset Turnover Amounts Amounts times11-13) Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $37,500; net cash used in investing activities was $13,800 and net cash used in financing activities was $17,700. If the beginning cash balance is $6,900, what is the ending cash balance? Multiple Choice $75,900. $62,100. $40,500.Huluduey Corporation’s comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $31,340 $27,670 Inventory 17,180 16,090 Accounts payable 16,510 14,340 Dividends payable 51,850 49,250 Adjust net income of $211,930 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. Amount Descriptions Cash paid for dividends Decrease in accounts payable Decrease in accounts receivable Decrease in dividends payable Decrease in inventory Increase in accounts payable Increase in accounts receivable Increase in dividends payable Increase in inventory Net cash flow from operating…
- Cash Flow RatiosSpencer Company reports the following amounts in its annual financial statements: Cash flow from operating activities $90,000 Capital expenditures $59,500* Cash flow from investing activities (68,000) Average current assets 136,000 Cash flow from financing activities (8,500) Average current liabilities 102,000 Net income 42,500 Total assets 255,000 * This amount is a cash outflowa. Compute Spencer's free cash flow.b. Compute Spencer's operating-cash-flow-to-current-liabilities ratio.c. Compute Spencer's operating-cash-flow-to-capital-expenditures ratio. Round ratios to two decimal points. a. Free cash flow Answer b. Operating-cash-flow-to-current-liabilities ratio Answer c. Operating-cash-flow-to-current-expenditures ratio AnswerFree cash flow Dillin Inc. reported the following on the company's statement of cash flows in 20Y2 and 20Y1: 20Y2 20Y1 Net cash flow from operating activities $476,200 $456,200 Net cash flow used for investing activities (429,000) (379,000) Net cash flow used for financing activities (41,000) (57,000) Eighty percent of the net cash flow used for investing activities was used for the purchase of property, plant, and equipment. a. Determine Dillin's free cash flow for both years. 20Y2 20Y1 Free cash flow $ b. Has Dillin's free cash flow improved or declined from 20Y1 to 20Y2?Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Financing Activities Madison Company reported the following information: 12/31/2019 12/31/2018 Notes payable $95,000 $75,000 Common stock 120,000 80,000 Retained earnings 20,000 36,000 Madison reported net income of $39,000 for the year ended December 31, 2019. In addition, Madison repaid $27,000 of the notes payable during 2019. Required: Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows). $
- Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable. Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 30,800 88,100 111,000 10,900 280,000 $ 520,800 $ 128,400 98,000 163,500 130,900 $ 520,800 Current Year 1 Year Ago $ 35,000 61,500 82,400 9,300 250,500 $ 438,700 $ 478,850 243,350 12,100 9,550 $73,750 101,750 163,500 99,700 $438,700 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses $785,000 Interest expense Income tax expense Total costs and expenses Net income Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: 743,850 $ 41,150 $ 2.52 2…Required information [The following information applies to the questions displayed below] Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit. (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. Assets Cash Accounts receivable. Inventory Total current assets GOLDEN CORPORATION Comparative Balance Sheets December 31 Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable. Income taxes payable. Total current liabilities Equity Common stock, $2 par value Paid-in capital in excess of par value, common stock Retained earnings Total liabilities and equity GOLDEN CORPORATION Income Statement For Current Year Ended…Cash Flow RatiosSpencer Company reports the following amounts in its annual financial statements: Cash flow from operating activities $65,000 Capital expenditures $42,000* Cash flow from investing activities (48,000) Average current assets 96,000 Cash flow from financing activities (6,000) Average current liabilities 72,000 Net income 30,000 Total assets 180,000 * This amount is a cash outflowa. Compute Spencer's free cash flow.b. Compute Spencer's operating-cash-flow-to-current-liabilities ratio.c. Compute Spencer's operating-cash-flow-to-capital-expenditures ratio. Round ratios to two decimal points. a. Free cash flow Answer b. Operating-cash-flow-to-current-liabilities ratio Answer c. Operating-cash-flow-to-current-expenditures ratio Answer