Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Attempt NaN Mit Using info below, what is the net cash flow for Fox's 2020 SCFs Investing activities? 2020 Income Stmt BS Assets 12/31/20 12/31/20

image text in transcribed
Attempt NaN Mit Using info below, what is the net cash flow for Fox's 2020 SCFs Investing activities? 2020 Income Stmt BS Assets 12/31/20 12/31/20 12/31/19 Sales: $900,000 Cash: $ 12.000 $ 12.000 $ 80,000 CGS: (350,000) Accts Rec: 124.000 8,000 12.000 Gross Profit $550,000 AFS Secs 70,000 BS Liabs 12/31/19 & SE Accts $ 14,000 Payable: Taxes 102,000 Payable: 36,000 Divs Payable: Wages 120,000 Payable: Interest 8,000 Payable Notes 180,000 Payable: 16,000 20,000 Op. Exp (240.000) Inventory: 80,000 16.000 8,000 Gain Equip: 5.000 Prepaid Rent: 10,000 2.000 Interest Rev: 3,000 Land: 250,000 120,000 138,000 Interest Exp: (6,000) Equipment: 180,000 260,000 Commen 16.000 15,000 Pre-Tax NI: Accum $312.000 Depr (70,000) (50,000) 160.000 147.000 Stock: Additional PIC: Retained Earnings: Totals: Income Tax (80,000) Patents: 94,000 100,000 400,000 350,000 NI: $232,000 Totals: $750,000 $770,000 $750,000 $770,000

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

More Books

Students also viewed these Accounting questions