Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2017 and 2018 Partial Statement of Financial Position Assets Liabilities and shareholders' equity Current

Consider the following abbreviated financial statements for Weston Enterprises: WESTON ENTERPRISES 2017 and 2018 Partial Statement of Financial Position Assets Liabilities and shareholders' equity Current assets Net fixed assets 2017 $922 3,887 201 $1,010 Current liabilities 4,552 Long term debt 2017 1376 2,003 2018 $392 2,137 WESTON ENTERPRISES 2018 Statement of Comprehensive Income Sales Costs Depreciation Interest paid $11,200 5,600 1,05 150 a. What is the shareholders' equity for 2017 and 2018? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) Shareholders equity 2017 Shareholders equity 2018 $ 2436 3033 b. What is the change in net working capital for 2018? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) Change in net working capital 66 c-1. In 2018, Weston Enterprises purchased $1,815 in new fixed assets. How much in fixed assets did Weston Enterprises sell? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) a. What is the shareholders' equity for 2017 and 2018? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) Shareholders' equity 2017 Shareholders' equity 2018 $ $ 2436 3033 b. What is the change in net working capital for 2018? (Omit S sign in your response. Negative amount should be indicated by a minus sign.) Change in net working capital e-1. In 2018, Weston Enterprises purchased $1,815 in new fixed assets. How much in fixed assets did Weston Enterprises sell? (Omit S sign in your response. Negative amount should be indicated by a minus sign.) Fixed assets sold c-2. In 2018, what is the cash flow from assets for the year? (The tax rate is 35 percent) (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) Cash flow from assets d-1. During 2018, Weston Enterprises raised $380 in new long-term debt. How much long-term debt must Weston Enterprises have paid off during the year? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) Debt retired $ d-2. What is the cash flow to creditors? (Omit $ sign in your response. Negative amount should be indicated by a minus sign.) 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

Students also viewed these Accounting questions

Question

Deepen

Answered: 1 week ago