Use the following balance sheet for problems 19 through 21: Dec 31st 2019 Dec 31st 2018 Cash 30,000 35,000 Accounts Receivable 55,000 45,000 Inventory 65,000 45,000 Prepaid expenses 15,000 25,000 Equipment 80,000 85,000 Accumulated Depreciation (8,000) (18,000) Land 40,000 40,000 Total Assets 277,000 257,000 Accounts Payable 65,000 52,000 Income tax payable 15,000 18,000 Long-term notes payable 0 23,000 Bonds payable 30,000 0 Common stock 159,000 159,000 R/E 8,000 5,000 Total Liabilities & Equity 277,000 257,000 Additional information: Equipment costing $10,000 with accumulated depreciation of $4,000 was sold for a loss of $3,000. All equipment purchases during the year were for cash. Net income for 2019 was $20,000. Depreciation expense for 2019 was $14,000. 19) Compute net cash flow from operations (in the excel submission workbook, enter net cash PROVIDED by operating activities as a POSITIVE number, and net cash USED by operating activities as a NEGATIVE number). 20) Compute net cash flow from investing activities (in the excel submission workbook, enter net cash PROVIDED by investing activities as a POSITIVE number, and net cash USED by investing activities as a NEGATIVE number). 21) Compute net cash flow from financing activities (in the excel submission workbook, enter net cash PROVIDED by financing activities as a POSITIVE number, and net cash USED by financing activities as a NEGATIVE number).
Use the following
Dec 31st 2019 Dec 31st 2018
Cash 30,000 35,000
Inventory 65,000 45,000
Prepaid expenses 15,000 25,000
Equipment 80,000 85,000
Land 40,000 40,000
Total Assets 277,000 257,000
Accounts Payable 65,000 52,000
Income tax payable 15,000 18,000
Long-term notes payable 0 23,000
Bonds payable 30,000 0
Common stock 159,000 159,000
R/E 8,000 5,000
Total Liabilities & Equity 277,000 257,000
Additional information:
- Equipment costing $10,000 with accumulated depreciation of $4,000 was sold for a loss of $3,000.
- All equipment purchases during the year were for cash.
- Net income for 2019 was $20,000. Depreciation expense for 2019 was $14,000.
19) Compute net
20) Compute net cash flow from investing activities (in the excel submission workbook, enter net cash PROVIDED by investing activities as a POSITIVE number, and net cash USED by investing activities as a NEGATIVE number).
21) Compute net cash flow from financing activities (in the excel submission workbook, enter net cash PROVIDED by financing activities as a POSITIVE number, and net cash USED by financing activities as a NEGATIVE number).
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