Problem 5--Use the following information to prepare the Statement of Cash Flows uck Corporation For the Year Ended De cember 31, 2020 S 13,640,000 S 1,300,000 Net Income Depredialton Expense Amortization of Patent 150,000 $1,000,000 $ 200,000 S 1,200,000 sale of land Gain Sale of bulding Loss 100,000 Proceeds from Issuance of Common Stock 2,000,000 Purchase of Equipment Payment of Cash DIvidend Sale of Equipment 350,000 400,000 $ 350,000 Loss 500,000 select Balance Sheet Information: 12/31/20 $ 31,320,000 1/1/20 $ 14,250,000 $ 5,900,000 $ 6,880,000 $ 4,650,000 Cash Accounts Re ce ivable 5,500,000 Inventory 7,350,000 Accounts Payable 5,100,000

Problem 5--Use the following information to prepare the Statement of Cash Flows uck Corporation For the Year Ended De cember 31, 2020 S 13,640,000 S 1,300,000 Net Income Depredialton Expense Amortization of Patent 150,000 $1,000,000 $ 200,000 S 1,200,000 sale of land Gain Sale of bulding Loss 100,000 Proceeds from Issuance of Common Stock 2,000,000 Purchase of Equipment Payment of Cash DIvidend Sale of Equipment 350,000 400,000 $ 350,000 Loss 500,000 select Balance Sheet Information: 12/31/20 $ 31,320,000 1/1/20 $ 14,250,000 $ 5,900,000 $ 6,880,000 $ 4,650,000 Cash Accounts Re ce ivable 5,500,000 Inventory 7,350,000 Accounts Payable 5,100,000

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

15. Each of the following items must be considered in preparing a statement of cash flows (indirect method) for Turbulent Indigo Inc. for the year ended December 31, 2020. State where each item is to be shown in the statement of cash flows, if at all. Items (a) Plant assets that had cost $20,000 6 years before and were being depreciated on a straight-line basis over 10 years with no estimated scrap value were sold for $5,300. select an option (b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $43 a share. select an option (c) Uncollectible accounts receivable in the amount of $27,000 were written off against Allowance for Doubtful Accounts. select an option (d) The company sustained a net loss for the…
Barakah Company Balance Sheet as at 31st December 2019 Financed by: Fixed Assets (net after depreciation) 2$ $ Paid-up: Share Capital Retained Earnings Reserves 350,500 200,500 150,000 50,000 Land & Buildings 600,000 155,500 75,000 830,500 Equipment Vehicles Fixtures & Fittings Long Term Liabilities 25,000 751,000 Current Assets 125,000 Accounts Receivable 215,000 10,000 110,000 20,000 1,231,000 Inventory Current Other payables Trade creditors Liabilities 100,000 245,500 Prepayments Cash at Bank Cash in Hand Accrued expense 30.000 375,500 1,231.000 Additional Information: i) Work-in-Progress is one sixth of the total Inventory. Prepayments is related to rental of buildings. ii) ii) Bad Debts is 5% for the year. iv) Non Muslim ownership is at 20%. Required: Determine the zakat base and due for the company using: (a) Net Current Assets method; and (b) Net Invested Fund Method.
Prepare a statement of cash flows using the information provided below and amounts indicated on the attached template. CD Corporation has the following for 2020: Net Income $145,000 Depreciation was $4,250 Sold Equipment with a Cost of $32,000, Accumulated Depreciation $15,000 for $22,500 Cash. Sold Common Stock of $250,000 Paid a Dividend of $6,500 Balance Sheet Balances 2020 2019 Cash 882,500 425,000 Accounts Receivable 575,500 275,500 Merchandise Inventory 445,000 900,000 Prepaid Expenses 67,500 82,500 Equipment 68,000 100,000 Accumulated Depreciation – Building (29,250) (40,000) Accounts Payable 590,100 737,350 Wages Payable 65,000 40,000 Retained Earnings 254,150 115,650 Common Stock 1,100,000 850,000
↓ The following table shows the projected free cash flows of an acquisition target. The potential acquirer wants to estimate its maximum acquisition price at an 8 percent discount rate and a terminal value in year 5 based on the perpetual growth equation with a 4 percent perpetual growth rate. Year Free cash flow 1 -950 2 3 -475 0 4 290 a. Estimate the target's maximum acquisition price. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. > Answer is complete but not entirely correct. Maximum acquisition price $ 8,640 x 5 880 b. Estimate the target's maximum acquisition price when the discount rate is 7 percent and the perpetual growth rate is 5 percent. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. X Answer is complete but not entirely correct. Maximum acquisition price $ 46,921 X
What is the net book value of asset
Free Cash Flows Rhodes Corporation’s financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019 Sales $ 13,000 $ 11,000 Operating costs excluding depreciation 11,604 9,684 Depreciation and amortization 340 320 Earnings before interest and taxes $ 1,056 $ 996 Less interest 180 100 Pre-tax income $ 876 $ 896 Taxes (25%) 219 224 Net income available to common stockholders $ 657 $ 672 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 550 $ 500 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,450 1,300 Total current assets $ 4,860 $ 4,400 Net plant and equipment 3,850 3,500 Total assets $ 8,710 $ 7,900 Liabilities and Equity Accounts payable $ 1,100 $ 1,000 Accruals 550…
Calculate the operating cash flows from the following data: Sales: $2,190,000 Cost: $815,000 Depreciation: $290,000 Tax rate: 21% Life: 3 years $857,150 O $1,147,150 O$1,085,000 O s1,375,00
Prepare a statement of cash flows for the Maness Coporation, using the infromation shown in the balance sheets. 2017 2018 Changes Assets Cash $150 $125 $(25) Accounts receiveable 350 375 25 Inventory 475 550 75 Total current assets 975 1,050 75 Gross fixed assets 2425 2750 325 Accumulated depreciation (1000) (1200) (200) Net fixed assets 1425 1550 125 TOTAL ASSETS 2400 2600…