Use the following excerpts from Brownstone Company's financial statements and complete the worksheet below to determine cash received from customers in2018.From Balance SheetsAccounts ReceivableDec. 31, 2018S 25,000Dec. 31, 2017$20,000From Income Statement:Sales2018220,000PLEASE NOTE: You are to follow the format shown in the textbook.Cash Collected from Sales Revenue| Select )[ Select ]| Select ][ Select ][ Select ][ Select ][ Select ][ Select ][ Select ][ Select ]>>>>>>>>

Cash received from customer: When the goods are sold on credit to a customer and after some time the…

Use the following excerpts from Brownstone Company's financial statements and complete the worksheet below to determine cash received from customers in 2018. From Balance Sheets Accounts Receivable Dec. 31, 2018 $ 25,000 Dec. 31, 2017 $20,000 From Income Statement: Sales 2018 220,000 PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue I Select ) | Select 1 | Select ] | Select ) [ Select ] | Select ) | Select 1 | Select ] | Select ] | Select ) > > > >

Use the following excerpts from Brownstone Company's financial statements and complete the worksheet below to determine cash received from customers in 2018. From Balance Sheets Accounts Receivable Dec. 31, 2018 $ 25,000 Dec. 31, 2017 $20,000 From Income Statement: Sales 2018 220,000 PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue I Select ) | Select 1 | Select ] | Select ) [ Select ] | Select ) | Select 1 | Select ] | Select ] | Select ) > > > >

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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X vog /webapps/blackboard/execute/displaylearningUnit?course_id=_15367_18content_id=_1799353_18. Complete the following problem on an EXCEL spreadsheet. PA9.) Use the following excerpts from Yardley Company's financial information to prepare a statement of cash flows (indirect method) for the year 2018. 2018 Income Statement Balance Sheets $ 455,000 (221,500) Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets Net Income (24,000) 23,500 174,400 (o09'es) Dec. 31, 2018 Cash $321,450 39,750 Accounts Receivable Inventory Accounts Payable Accrued Liabilities 000'EE 00S'E Dec. 31, 2017 $133,500 yse) Accounts Receivable Inventory Accounts Payable Accrued Liabilities 00s'9E 000'SE 19,550 00z Additional information: Plant assets were sold for $40,000; book value $16,500 Dividends of $25,000 were declared and paid 73"F Sunny
Check my work For each of the three independent situations determine the amount of cash received from the customers and prepare journal entries that summarize the selling and collection activities for the reporting period. All dollars are in millions. Complete this question by entering your answers in the tabs below. Cash Recd General from Cust Journal Determine the amount of cash received from the customers. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Sales Accounts Receivable Cash Received from Situation Revenue Increase (Decrease) Customers 1 170 2 170 23 3 170 (23) Cash Recd from Cust General Journal
Use the following excerpts from Brownstone Company's financial statements and complete the worksheet below to determine cash received from customers in 2018. From Balance Sheets Accounts Receivable Dec. 31, 2018 $ 25,000 Dec. 31, 2017 $20,000 2018 220,000 From Income Statement: Sales PLEASE NOTE: You are to follow the format shown in the textbook. Cash Collected from Sales Revenue [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ] [ Select ]
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The folowing show the cash book and bank statement respectively for Material Plus Co. Lid for August 31, 2011. Date Details Foli Amount Date Details Folio Amount 2011 Aug 1 Aug 3 Balance bif 8 100 June 1 V. Nelson 500 Aug 4 Aug 11 Aug 14 Aug 19 Aug 22 Aug 25 Aug 27 Aug 31 Peter Lucas 5 300 Materials& More 300 Aug 6 Aug 16 Aug 20 Aug 31 Trevor Miller Sales George Lee Lenna Smith 2 000 3 500 4 700 3 050 Fagan Ray Jay's Garments Sandra Henry Perfect Wear Ltd Y Willis Andrew Collins Balance 540 900 750 290 880 1 900 18 590 cid 26 650 26 650 Sepe I Balance b'd 18 590 Cash Book for Material Plus Date Details Debit Credat Aug 1 Aug 4 Aug 4 Aug 13 Aug 14 Aug 20 Aug 24 Balance Peter Lucas Material & More Fagan Ray Trevor Miller Lodgments Standing Order - insurance Perfect Wear Ltd |Balance 8 100 13 400 13 100 12 560 14 560 19 260 5 300 300 540 2 000 4 700 I 790 470 7ו Aug 26 Aug 30 June 20 | Trader's Credit Bank Statement for Material Plus 80ו 17 16 815 60ר ךן 290 Bank charges 365 945 You are…
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P2-50. Compare Cash Flows Across Retailers Following are selected accounts from the income statement and the statement of cash flows for several retailers, for their fiscal years ended in 2018. Cash Flows from Net $ millions Sales Income Operating Investing Financing Macy's..... Home Depot Best Buy. Target..... Walmart Stores..... $ 25,739 $ 1,108 108,203 11,121 42,879 $ (1,544) (12,420) (2,018) (3,644) (2,537) $ 1,735 13,038 $ ( 456) (2,416) 1,464 2,937 2,408 5,973 508 .... 75,356 511,729 (3,416) (24,036) 6,670 27,753 Required a. Compute the ratio of net income to sales for each company. Rank the companies on the basis of this ratio. Do their respective business models give insight into these differences? b. Compute net cash flows from operating activities as a percentage of sales. Rank the companies on the basis of this ratio. Does this ranking coincide with the ratio rankings from part a? Suggest one or more reasons for any differences observed. c. Compute net cash flows from…
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Prepare the statement of cash glows using the indirect method. Please show all work Please don't provide answer in image format thank you
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