Chapter 2 Using the below information for ABC Inc. 2019 2020 Cost of Goods Sold $...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/6654d9c395067_8036654d9c39007c.jpg)
Transcribed Image Text:
Chapter 2 Using the below information for ABC Inc. 2019 2020 Cost of Goods Sold $ 255,605.00 $ 322,742.00 Cash $ 36,884.00 $ 55,725.00 Depreciation $ 72,158.00 $ 81,559.00 Interest Expense S 15,687.00 $ 17,980.00 Selling & Administrative Expenses Accounts Payable Net Fixed Assets Sales $ SSSS S 50,268.00 $ 65,610.00 26,186.00 $ 44,318.00 $ 318,345.00 $ 387,855.00 501,441.00 $ 611,224.00 Accounts Receivable $ 26,136.00 $ 33,901.00 Notes Payable $ 29,712.00 $ 32,441.00 Long-Term Debt $ 160,689.00 $ 175,340.00 Inventory $ 50,318.00 $ 67,674.00 New Equity $ $ 19,500.00 Assuming that ABC Inc. pays out 40% of their net income as dividends and has a 21% tax rate, please answer the following questions in Excel. 1. Prepare a Income Statement for 2019 and 2020 2. Prepare a Balance Sheet for 2019 and 2020. 3. Calculate the Operating Cash Flows (OCF) for each year. 4. Using OCF approach, what is the CFFA in 2020? 5. Using the cash flow from creditors and stockholders approach, what is the CFFA for 2020? Chapter 2 Using the below information for ABC Inc. 2019 2020 Cost of Goods Sold $ 255,605.00 $ 322,742.00 Cash $ 36,884.00 $ 55,725.00 Depreciation $ 72,158.00 $ 81,559.00 Interest Expense S 15,687.00 $ 17,980.00 Selling & Administrative Expenses Accounts Payable Net Fixed Assets Sales $ SSSS S 50,268.00 $ 65,610.00 26,186.00 $ 44,318.00 $ 318,345.00 $ 387,855.00 501,441.00 $ 611,224.00 Accounts Receivable $ 26,136.00 $ 33,901.00 Notes Payable $ 29,712.00 $ 32,441.00 Long-Term Debt $ 160,689.00 $ 175,340.00 Inventory $ 50,318.00 $ 67,674.00 New Equity $ $ 19,500.00 Assuming that ABC Inc. pays out 40% of their net income as dividends and has a 21% tax rate, please answer the following questions in Excel. 1. Prepare a Income Statement for 2019 and 2020 2. Prepare a Balance Sheet for 2019 and 2020. 3. Calculate the Operating Cash Flows (OCF) for each year. 4. Using OCF approach, what is the CFFA in 2020? 5. Using the cash flow from creditors and stockholders approach, what is the CFFA for 2020?
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Refer to the data in Exercise 6-22A. Compute all ratio values to answer the following questions: Which company has the highest, and which company has the lowest, gross profit percentage? Which...
-
Amie and Lacey are partners. Lacey dies, and her son claims the right to take his mothers place in the partnership. Does he have this right? Why?
-
A business has capital of 20,000 and assets of 20,000. It then borrows 10,000 from the bank to finance the purchase of some new office equipment. How does this affect the accounting equation?
-
A Chicago manufacturer of office equipment is desperately attempting to control its profit and loss statement. The company currently manufactures 15 different products, each coded with a one-letter...
-
23. Find and sketch the curve y(a:), which passes through the points (1, 0) and (2, 1), and 2 along which the functional J [y(a:)] = f [(y')2 2mg] d1: is extremal. 1
-
An increase in a person's budget which will mean more of good A and/or good B can be consumed will be shown through the Budget Line as: a. A rightward shift in the budget line b. A leftward shift of...
-
Who would be involved in the process? What types of resources are needed to comply with the standard? How does the standard specifically relate to HIM and how should the HIM Department be involved in...
-
The R&D team requires a budget of 2 . 7 million dollars for completing a project and your marketing budget cannot cover these expenses, what can you do to reduce the R&D budget?
-
Using the Five Dysfunctions of a Team Model, what will be your new vision and emphasis for the organization and how will you communicate it? What will be your immediate and short-term strategy for...
-
Assume that late-night show production team members in the management in action case had differences of opinion on how to best virtually produce a show. However, they all had the show's best interest...
-
A customer service team responded to 120 customer inquiries in a day. The total time spent on responding was 4 hours and 30 minutes. Calculate the average response time per inquiry.
-
A manufacturing company is evaluating a lease-versus-buy decision for a new piece of equipment. The equipment costs $200,000 to purchase outright or $50,000 per year to lease for 5 years. If the...
-
Dodge Company had the following information relating to its accounts receivable at December 31, 2002, and for the year ended December 31, 2003: V Accounts racelvablerbalamcerateul2/ Oil) O2 sete...
-
The following data were associated with the accounts receivable and uncollectible accounts of Hilton, Inc., during 2003: a. The opening credit balance in Allowance for Bad Debts was $900,000 at...
-
The trial balance of Stardust Company at the end of its 2003 fiscal year included the follow- ing account balances: Accounts receivable Allowance for bad debts Account $48,900 2,500 (debit balance)...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App