Use the following information to perform the calculations below (using the indirect method). Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash 578,000 Issuance of stock for long-term assets 40,700 Purchase of treasury stock 46,400 Sale of long-term investment at cost $400,000 e Textbook and Media 91,000 429,000 433,000 514.000 Cash flows from operating activities $ $122,000 145,000 754,000 264,000 167,000 105,000 64,500 Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) 54,500 Calculate the amount of cash flows from investing activities. (Show amount that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Use the following information to perform the calculations below (using the indirect method). Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash 578,000 Issuance of stock for long-term assets 40,700 Purchase of treasury stock 46,400 Sale of long-term investment at cost $400,000 e Textbook and Media 91,000 429,000 433,000 514.000 Cash flows from operating activities $ $122,000 145,000 754,000 264,000 167,000 105,000 64,500 Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) 54,500 Calculate the amount of cash flows from investing activities. (Show amount that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)

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Description: Calculate the amount of Casi tows from Investitig alliviLICS. (Now Umount that útlitust Lusiflow with either a signit.y. -1,000in parenthesis e.g. (15,000).)Cash flows from investing activities $eTextbook and MediaCalculate the amount of cash flows

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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Financial Statements Prepare the Financial Statements for the fiscal year ended December 31, 2021 for MaBak Inc. Inc. Don't forget the statement dates and dollar signs. Complete the Horizontal and Vertical analysis. Round answers to the whole percent. Account Name Accounts Payable Accounts Receivable (net) Accrued Liabilities Administration Expense Bonds Payable Car (net) Cash Cost of Goods Sold Current Maturities of Long Term Debt Equipment (Net) Income Tax Expense Inventory Amount Account Name Investments - Long Term Land- not in use, to be sold in 5 Marketable Securities $ 42,000 30,000 3,000 30,000 Net Sales 20,000 Notes Payable - Long 32,000 Notes Receivable 50,000 20,000 Other Income Other Expense (interest) 12,250 Selling Expense 12,000 Supplies 4,400 Taxes Payable 40,000 Unearned Sales Revenue 12,000 25,000 5,000 135,000 13,000 2,000 7,600 4,000 44,000 7,500 17,750 13,000
Use the following data to create a complete balance sheet. All accounts must be correctly labeled and arranged in the proper order. Cash Accounts receivable Accounts payable Short-term notes payable Inventories Gross fixed assets Long-term debt Common stock Accumulated depreciation $150,000 54,000 72,000 20,000 80,000 2,400,000 650,000 1,200,000 500,000
Give answer with explanation
Prepare a blance sheet
Consider the following information: Assets Cash Accounts Receivable (less allowance) Inventories Property, Plant and Equipment Long-term Investments Total Assets Liabilities Accounts Payable Current Portion of Long-Term Debt Long-Term Notes Payable Total Liabilities. Gil's Fish and Tackle, Incorporated Dalance Sheet At December 31, 2021 Stockholders' Equity Contributed Capital Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Operating Expenses Operating Income Other Expenses Interest Expense Sales Revenue Operating Expenses Salaries and Wages Expense Operating and Administrative Expenses Depreciation Expense Net Income Gil's Fish and Tackle, Incorporated Income Statement For the year ending December 31, 2021 Income Before Income Tax Expense Income Tax Expense Debt-to-Assets Ratio Times Interest Earned $ 22,200 169,100 68,300 102,800 30,000 $ 392,400 % $ 49,200 68,800 100,000 218,000 100,000 74,400 174,400 $ 392,400 $ 2,765,000 1,850,500 286,700…
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Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 611,000 272,000 $ 52,500 22,500 178,000 290,000 $ 543,000 66,200 339,000 $948,200 $ 95,100 78,700 12,000 $ 185,800 159,400 $ 345,200 $ 100,000 80,000 190,000 233,000 $ 603,000 $948,200