Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

any help on this? The company purchased equipment costing $48,400 by paying 18,400 cash and bar and 30,000 in long-term debt. paid 2,700 and short

any help on this? image text in transcribed
image text in transcribed
The company purchased equipment costing $48,400 by paying 18,400 cash and bar and 30,000 in long-term debt.
paid 2,700 and short term note payable
paid 20,000 of principle and long-term not payable
issued 20,500 shares of common stock for two dollars per share
declared and paid a cash dividend.
Cashflow Practice 2016 2015 2016 Assets Cash Accounts Receivable Inventory Prepaid Expenses Equipment Accum. Depr.- Equip 160,650 83.900 34.300 7.500 140,300 157.600 54,000 65.500 114,800 7.000 129.000 (19.000 Sales Cost of goods sold Gross Profit Depreciation Exp Other Exp Gain on sale of cuipment Income tax exp. Netincome 758.000 (490.000) 268.000 67,600 85.000 2.500 47.950 69.950 Total Assets 419.050 351.300 Labilities & Equity Accounts payable Wages payable Short-term notes payable Long-term note payable Comon Stock $2 par Retained earings Total Liabilities & Equity 33.200 22.900 4.500 102000 225.000 31.450 419.050 41,000 19.600 7.200 92.000 180.000 11.500 351.300 Additional Information a The company purchased equipment costing 548,400 by paying $18,400 cash and borrowing $30,000 in long-term debt. b Paid $2,700 on short-term note payable. c. Paid $20,000 of principal on long-term not payable. d Issued 22,500 shares of common stock for $2 per share. e. Declared and paid a cash dividend Use the information to prepare a complete statement of cash flows for Money Inc. including any noncash activities that should be disclosed in a note. Email me the completed cash flow statement on the attached form. Cash flows from Operation Netinkom Adatments to reconcile net income to recan provided by operating activities Income statement item not affecting anh Changes incurrent sets and liabilities NetCash by operating activities Cash flows from Investing Activities by investing Xtivities NetCath cash flows from Financing Activites by Financing activities NetCash Net in cash Cash balance at beginning of yea Cash balance at the end of yex Notes

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Return Jahrgang 2018 Magazin Fur Transformation Und Turnaround

Authors: Stefanie Burgmaier, Hans Haarmeyer, Thorsten Garber

3rd Edition

365825601X, 9783658256012

More Books

Students also viewed these Accounting questions

Question

What appraisal intervals are often used in appraisal reviews?

Answered: 1 week ago

Question

What are the various alternatives?

Answered: 1 week ago