Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Textbook Question
Chapter 14, Problem 32BEB
During 20X2, Evans Company had the following transactions:
- a. Cash dividends of $6,000 were paid.
- b. Equipment was sold for $2,880. It had an original cost of $10,800 and a book value of $5,400. The loss is included in operating expenses.
- c. Land with a fair market value of $15,000 was acquired by issuing common stock with a par value of $3,600.
- d. One thousand shares of
preferred stock (no par) were sold for $4.20 per share.
Evans provided the following income statement (for 20X2) and comparative
Required:
Prepare a worksheet for Evans Company.
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Madison Company's cash ledger reports the following for the month ending March 31.
Deposits:
Date
3/4
Amount
Number
Date
Amount
$1,100
Checks:
541
3/2
$5,900
3/11
1,200
542
3/8
500
3/18
3,700
543
3/12
2,400
3/25
3,100
544
3/19
1,100
Cash receipts:
3/26 to 3/31
2,800
545
3/27
800
$11,900
546
3/28
600
547
3/30
1,900
$13,200
Amount
Balance on March 1
$5,500
Receipts
11,900
Disbursements
(13,200)
Balance on March 31
$4,200
Information from March's bank statement and company records reveals the following additional information:
a. The ending cash balance recorded in the bank statement is $5,867.
b. Cash receipts of $2,800 from 3/26 - 3/31 are outstanding.
c. Checks 545 and 547 are outstanding.
d. The deposit on 3/11 included an NSF check from a customer in the amount of $470 that did not clear the bank.
e. Check 543 was written for $3,000 for office supplies in March. The bank properly recorded the check for this amount.
f. An electronic funds transfer (EFT) for March rent was made on March…
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Chapter 14 Solutions
Managerial Accounting: The Cornerstone of Business Decision-Making
Ch. 14 - Prob. 1DQCh. 14 - Prob. 2DQCh. 14 - Of the three categories on the statement of cash...Ch. 14 - Prob. 4DQCh. 14 - Why is it better to report the noncash investing...Ch. 14 - Prob. 6DQCh. 14 - Prob. 7DQCh. 14 - Explain how a company can report a loss and still...Ch. 14 - In computing the periods net operating cash flows,...Ch. 14 - Prob. 10DQ
Ch. 14 - In computing the periods net operating cash flows,...Ch. 14 - Explain the reasoning for including the payment of...Ch. 14 - What are the advantages in using worksheets when...Ch. 14 - Prob. 14DQCh. 14 - Cash inflows from operating activities come from...Ch. 14 - Prob. 2MCQCh. 14 - Prob. 3MCQCh. 14 - Sources of cash include a. profitable operations....Ch. 14 - Uses of cash include a. cash dividends. b. the...Ch. 14 - Prob. 6MCQCh. 14 - Prob. 7MCQCh. 14 - Which of the following adjustments to net income...Ch. 14 - An increase in accounts receivable is deducted...Ch. 14 - An increase in inventories is deducted from net...Ch. 14 - The gain on sale of equipment is deducted from net...Ch. 14 - Which of the following is an investing activity?...Ch. 14 - Which of the following is a financing activity? a....Ch. 14 - Prob. 14MCQCh. 14 - A worksheet approach to preparing the statement of...Ch. 14 - In a completed worksheet, a. the debit column...Ch. 14 - Prob. 17BEACh. 14 - Prob. 18BEACh. 14 - Prob. 19BEACh. 14 - Prob. 20BEACh. 14 - Swasey Company earned net income of 1,800,000 in...Ch. 14 - Prob. 22BEACh. 14 - Prob. 23BEACh. 14 - During 20X2, Norton Company had the following...Ch. 14 - Prob. 25BEBCh. 14 - Prob. 26BEBCh. 14 - Roberts Company provided the following partial...Ch. 14 - Prob. 28BEBCh. 14 - Prob. 29BEBCh. 14 - Prob. 30BEBCh. 14 - Prob. 31BEBCh. 14 - During 20X2, Evans Company had the following...Ch. 14 - Stillwater Designs is a private company and...Ch. 14 - Prob. 34ECh. 14 - Jarem Company showed 189,000 in prepaid rent on...Ch. 14 - During the year, Hepworth Company earned a net...Ch. 14 - During 20X1, Craig Company had the following...Ch. 14 - Tidwell Company experienced the following during...Ch. 14 - Prob. 39ECh. 14 - Oliver Company provided the following information...Ch. 14 - Prob. 41ECh. 14 - Prob. 42ECh. 14 - Prob. 43ECh. 14 - Solpoder Corporation has the following comparative...Ch. 14 - Solpoder Corporation has the following comparative...Ch. 14 - The following financial statements were provided...Ch. 14 - Prob. 47PCh. 14 - Prob. 48PCh. 14 - Booth Manufacturing has provided the following...Ch. 14 - The following balance sheets and income statement...Ch. 14 - The following balance sheets and income statement...Ch. 14 - Balance sheets for Brierwold Corporation follow:...Ch. 14 - Balance sheets for Brierwold Corporation follow:...Ch. 14 - Prob. 54PCh. 14 - Prob. 55PCh. 14 - The following balance sheets were taken from the...Ch. 14 - The following balance sheets were taken from the...Ch. 14 - The comparative balance sheets and income...
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