i did most part, not sure if its correct.how do i find the cash at the begining of the year? i got $ -5500 as net decraese in cash Cougar Tree Services reports the following amounts on December 31, 2024.AssetsLiabilities and Stockholders' Equity$9,6003,7005,40091,000Accounts payableSalaries payableNotes payableCash$15,400SuppliesPrepaid insuranceBuilding5,40039,00040,0009,900Common stockRetained earningsIn addition, the company reported the following cash flows.Cash InflowsCash OutflowsEmployee salariesSuppliesCustomers$98,000$41,000Borrow from the bank (note)39,00037,50023,00016,000100,000Sale of investmentsDividendsPurchase buildingRequired:1. Prepare a balance sheet.2. Prepare a statement of cash flows.Complete this question by entering your answers in the tabs below.Statement ofBalance SheetCash FlowsPrepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.) Statement ofBalance SheetCash FlowsPrepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.)COUGAR TREE SERVICESStatement of Cash FlowsFor the year ended December 31, 2024Cash Flows from Operating ActivitiesFrom Customers$98,000For Salaries(41,000)For Supplies(23,000)Net Cash Flows from Operating Activities34,000Cash Flows from Investing ActivitiesSale of Investments37,500Purchase Building(100,000)Net cash flows used in investing activities(62,500)Cash Flows from Financing ActivitiesBorrow from Bank39,000Pay Dividends(16,000)Net Cash Flows from Financing Activities23,000Net Decrease in CashCash at the Beginning of the YearCash at the End of the Year2$Balance SheetStatement of Cash Flows >

Answered: Prepare a statement of cash flows.…

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

Haresh
During 2017, Simms Company redeemed $2,000,000 ofbonds payable for $1,880,000 cash. Indicate how thistransaction would be reported on a statement of cashflows, if at all.
I'm not sure what I'msupposed to do for this problem or how to go about solving it.
Muhammad opens a bank account paying i(4) = 7.250%. 1 year later, he has $5,139.38 in his account. How much money did he deposit in the account at the start? (No dates or daycount convention are given, so use theoretical time; i.e. 1 year = 365 days = 52 weeks = 12 months etc. and count time in periods. e.g. 3 weeks = 3/52 years; 3 months = 0.25 years, etc.) a. $4,825.83 b. $4,783.07 c. $4,775.94 d. $4,804.45 e. $4,818.70
Grier & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows: Grier & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2025 Cash receipts from customers $425,000 Cash payments: Salaries and wages $170,000 Income taxes 65,000 Insurance 40,000 Interest…
Please do not provide answer in image formate thank you.
Changes in all balance sheet account balances of E during the current year, EXCEPT the change in E’s retained earnings account follow. Compute E’s net income (or net loss) for the current year assuming the only 2 entries E made to her retained earnings account during the current year were for a cash dividend declared and paid of $165,000 and her net income (or net loss) for the current year. (This is NOT a statement of cash flows problem – do NOT format it like a statement of cash flows problem.) Cash increased $ 56,000 Accounts receivable decreased $ 43,000 Inventory decreased $105,000 Fixed assets increased $262,000 Accumulated depreciation increased $ 88,000 Accounts payable increased $117,000 Salaries payable decreased $ 64,000 Unearned revenue increased $ 23,000 Notes payable decreased $100,000 Common stock increased $ 75,000
On 2003-06-17 Keiko invests $2,800.00 in an account paying i(¹) = 10.000%. The account uses the compound interest method for computing interest for partial periods. How much money does she receive when she withdraws it on 2008-10-03? a. $2,912.21 b. $2,909.63 c. $4,638.41 d. $2,916.08 e. $2,939.30
Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…
I got a lot of my Statement of Cash Flows wrong... can someone help me? filling in the missing sections as well as notes is MUCH APPRECIATED! Thanks in Advance <3 .... I'll fill in all the parts I got write as well as put questions marks to the parts I got wrong. Metlock Inc., a greeting card company, had the following statements prepared as of December 31, 2020. METLOCK INC.COMPARATIVE BALANCE SHEETAS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $5,900 $6,900 Accounts receivable 61,400 51,200 Short-term debt investments (available-for-sale) 34,700 18,000 Inventory 40,200 59,700 Prepaid rent 5,000 4,100 Equipment 152,700 130,200 Accumulated depreciation—equipment (35,400 ) (25,000 ) Copyrights 45,700 49,900 Total assets $310,200 $295,000 Accounts payable $46,300 $40,400 Income…
I've asked the question regarding an Indirect Method of Wolff Cash Statement. I need to find the free cash flow and the answer you gave me said incorrect when I put it in. I am putting it as a negative answer.
At the beginning of the year, Oriole Company has a cash balance of $25300. During the year, the company expects cash disbursements of $176000, and cash receipts of $154000. If Oriole Company requires an ending cash balance of $22000, how much must the company borrow? O $0. O $44000. O $18700. O $22000.

SEE MORE QUESTIONS

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