Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $23,400 $22,600 Inventory 78,800 79,500 Accounts payable 20,700 20,400 Dividends payable 18,000 17,000 Adjust net income of $77,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. %24

Victor Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $23,400 $22,600 Inventory 78,800 79,500 Accounts payable 20,700 20,400 Dividends payable 18,000 17,000 Adjust net income of $77,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. %24

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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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Changes in Current Operating Assets and Liabilities-Indirect Method Mohammed Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y1 Accounts receivable Inventory Accounts payable Dec. 31, 20Y2 $19,900 53,400 10,800 $19,100 21,000 54,100 9,600 Dividends payable Adjust net income of $104,400 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. 23,000
Question Content Area Cash and accounts receivable for Adams Company are as follows: Current Year Prior Year Cash $63,104 $54,400 Accounts receivable (net) 34,736 66,800 What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis? Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %
Statement of cash flow for the following: The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: 1 Dec. 31, 20Y2 Dec. 31, 20Y1 2 Assets 3 Cash $918,000.00 $964,800.00 4 Accounts receivable (net) 828,900.00 761,940.00 5 Inventories 1,268,460.00 1,162,980.00 6 Prepaid expenses 29,340.00 35,100.00 7 Land 315,900.00 479,700.00 8 Buildings 1,462,500.00 900,900.00 9 Accumulated depreciation-buildings (408,600.00) (382,320.00) 10 Equipment 512,280.00 454,680.00 11 Accumulated depreciation-equipment (141,300.00) (158,760.00) 12 Total assets $4,785,480.00 $4,219,020.00 13 Liabilities and Stockholders’ Equity 14 Accounts payable (merchandise creditors) $922,500.00 $958,320.00 15 Bonds payable 270,000.00 0.00 16 Common stock, $25 par 317,000.00 117,000.00 17 Paid-in capital in…
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable. Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 30,800 89,600 110,000 10,400 281,000 $ 521,800 Interest expense Income tax expense Total costs and expenses Net income Earnings per share 1 Year Ago $ 128,800 $ 75,750 99,000 95,500 162,000 135,500 162,000 106,650 $ 521,800 $ 443,400 Current Year $ 36,000 63,000 83,600 9,300 251,500 $ 443,400 $ 421,850 221,650 12,100 9,400 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses $ 715,000 665,000 $ 50,000 $3.09 2 Years Ago $ 38,400 49,500 53,500 4,300 235,000 $ 380,700 For both the Current Year and 1 Year Ago, compute the following ratios: $ 51,000 80, 200 162,000 87,500…
Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $14,000 $13,400 Inventory 70,500 71,200 Accounts payable 11,900 10,600 Dividends payable 15,000 16,000 Adjust net income of $74,900 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
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The Cash and Accounts Receivable end-of-year balances for a company are provided below. Current Year Prior Year Cash $46,280 $35,600 Accounts receivable (net) 17,050 31,000 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 % increase,decrease
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