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ACCOUNTING PROBLEM, please help ASAP. Thank you Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data,
ACCOUNTING PROBLEM, please help ASAP. Thank you
Below are balance sheet and income statement data for Howard Bannister Company. Note: For the balance sheet data, the end-of-year information is in the left column MCQ1: Compute cash flow from operating activities for 20X2 ... .. MCQ2: Compute cash flow from investing activities for 20X2 Balance Sheet Data 20X2 20X1 Accounts Payable. ...165. Accumulated Depreciation ...... . ..... ....................520 ............ Cash ............... 200... Common Stock .............. ................. 1,000..... DIVIDENDS PAYABLE ................ Equipment........ ..........2,700...........2,395 Income Tax Payable ........ .. ......... 100 ................. 135 Inventory........ ................ 1,120..............890 Mortgage Payable.. ............. 900 ................ 1,265 Prepaid General Expenses ............ .................... 300 ...................350 Retained Earnings (ending balance, after closing) Unearned Sales Revenue ....... .....................50 .....................78 MCQ3: Compute paid for dividend in 20X2 ... 10,000 Income Statement Data (for 20x2) Sales .................................................... Cost of Goods Sold..................... ..................6,000 General Expenses.. ............... 2,000 Depreciation Expense ....................... ................... 330 Loss on Sale of PPE............ Income Tax Expense................... Total Expenses Net Income ............... 100 .................. 9,130 ...870 Additional Information: a. Equipment with a (net) book value of $300 was sold during 20x2. b. All accounts payable relate to inventory purchases. c. Equipment costing $160 was purchased with a mortgage during 20x2. This fact is already reflected in the balance sheet numbers reported above. All other purchases of Equipment in 20x2 were cash transactions
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