Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone help me with this cash flow statement V Condensed nancial data for NextWave Company appear below: NEXIWAVE COMPANY Comparative Balance sheet Decemb 31

can someone help me with this cash flow statement

image text in transcribed
V Condensed nancial data for NextWave Company appear below: NEXIWAVE COMPANY Comparative Balance sheet Decemb 31 2000 2007 Asset: Cash 5 86.700 5 47,250 Accounts receivable 76.800 57,000 Inventories 121.900 92.650 long-term investments 84,500 97,000 Capital assets 280,000 235,000 Accumulated amortization 179.500) 70,000) $570,400 $450,900 liabilities and shareholders' equity Accounts payable S 52,700 $ 48,230 Income taxes payable 12.100 18,020 Bonds payable 100,000 70.000 Common shares 230,000 200,000 Retained earnings 175,600 121,700 $570,400 5453.900 NEIH'WAVE comm Income Statement Data For them Ended December 31, 2008 Sales revenue $427,500 Gain on sale of capital assets 3,700 431,200 Less Cost of goods sold $199500 Operating expenses (excluding amortization expense) 14,700 Amortization expense 49.700 Income boxer ' - 40,100 304.000 Net income $127,200 Additional information: - Some of the long-term investments were sold at their book value (or carrying .value]. As a result, there was no gain or loss on this transaction. - Capital assets costing $47,000 were sold for $10,500. which was $3,700 more than their book value at the time of disposal

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

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Lawrence A. Tomassini

4th Edition

0072994029, 9780072994025

More Books

Students also viewed these Accounting questions

Question

What is the benefit of the 65-day rule?

Answered: 1 week ago

Question

1. To understand how to set goals in a communication process

Answered: 1 week ago