Question
A. Calculate net cash provided by operating activities B. Calculate investing activities C. Calculate financing activities i. equipment bought for 97000, paid in cash ii.
A. Calculate net cash provided by operating activities
B. Calculate investing activities
C. Calculate financing activities
i. equipment bought for 97000, paid in cash
ii. securities sold at cost
iii. equipment sold for 15500, the original price when bought was 47000. The profit was 8750.
iv. dividends of the year was 83400
| Balance sheet
| ||
|
| 2015 | 2014 |
| Assets |
|
|
| Cash | 82700 | 47250 |
| Accounts receivable | 90800 | 57000 |
| Inventory | 126900 | 102650 |
| Investments | 84500 | 87000 |
| Equipment | 255000 | 205000 |
| Accumulated depreciation | (49500) | (40000) |
| Total | 590400 | 458900 |
|
|
|
|
| Liabilities & equity |
|
|
| Accounts payable | 57700 | 48280 |
| Other payable (unpaid cost) | 12100 | 18830 |
| Notes payable | 100000 | 70000 |
| Share capital | 250000 | 200000 |
| Retained earnings | 170600 | 121790 |
| Total | 590400 | 458900 |
|
|
|
|
| Income statement
| ||
| Sale | 297500 | |
| Cost of goods sold | 99460 | |
| Gross profit | 198040 | |
| Operation expense | 14670 | |
| Depreciation | 49700 | |
| Interest expense | 2940 | |
| Profit of sale of equipment | 8750 | |
| Profit before taxes | 139480 | |
| Income tax | 7270 | |
| Net income | 132210 | |
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather
8th Edition
0470929383, 978-0470929384
