Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following abbreviated financial statements for Weston Enterprises: (Do not round intermediate calculations.) WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets Assets Liabilities and

Consider the following abbreviated financial statements for Weston Enterprises: (Do not round intermediate calculations.)

WESTON ENTERPRISES 2011 and 2012 Partial Balance Sheets
Assets Liabilities and Owners Equity
2011 2012 2011 2012
Current assets $ 932 $ 980 Current liabilities $ 375 $ 400
Net fixed assets 3,867 4,572 Long-term debt 2,018 2,162

WESTON ENTERPRISES 2012 Income Statement
Sales $ 11,675
Costs 5,675
Depreciation 1,050
Interest paid 170

a. What is owners' equity for 2011 and 2012?

Owners' equity 2011 $
Owners' equity 2012 $

b. What is the change in net working capital for 2012?

Change in NWC $

c-1.

In 2012, Weston Enterprises purchased $1,840 in new fixed assets. How much in fixed assets did Weston Enterprises sell?

Fixed assets sold $

c-2.

In 2012, what is the cash flow from assets for the year? (The tax rate is 35 percent.)

Cash flow from assets $

d-1.

During 2012, Weston Enterprises raised $380 in new long-term debt. What is the cash flow to creditors?

Debt retired $

d-2.

What is the cash flow to creditors?

Cash flow to creditors $

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

Global Finance

Authors: Robert Holton

1st Edition

0415619165, 978-0415619165

More Books

Students also viewed these Finance questions