CP 148 Assume the following income statement and balance sheet information:
I have attached the full question and workbook for the answers to be filled into below. The answers MUST BE PUT INTO THIS WORKBOOK FORMAT or I won't understand them. Also, I can't understand handwriting that's not my own, so please DO NOT GIVE HANDWRITTEN ANSWERS. Need this ASAP. Thank you! :)
Edit: I don't understand the comment. The first picture is of the questions that need to be answered. The next 2 pictures is the workbook that the answers must be put into. Put the correct answer on each line until all lines are filled out. Thank you.
i dont understand the comments being made. This is the part in the textbook with the questions that need to be answered:
These are the 2 pages in the workbook in the textbook that were given in order to complete all questions:
Im sorry, but there is nothing Im capable of adding. This is all the information my textbook has given me, so its all that can be worked with.
CP 14-8 Assume the following income statement and balance sheet information $175 Service revenue (all cash) Operating expenses Salaries (all cash) Net income 90 2020 2019 Current assets $1,600 200 Cash Short-term invest. $1,250 100 $1350$1,800 Liabilities Borrowings Stockholders' equity Common stock Retained earnings 200 300 500 550 $1,350 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non current. No gain or loss occurred when common stock was repurchased Required. 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity 3. Calculate cash flow from financing activities 4. (Appendix) Prepare a cash flow table. Show that cash effects netto $450 outflow CHAPTER FOURTEEN The Statement of Cash Flows CP 14-8 1. Adjustments to net income Name 2. The statement of changes in equity would show Common Retained Total shares earnings equity Analysis of borrowings: 3. The journal entry to construct the SCF would be: Debit Credit Date Description CHAPTER FOURTEEN The Statement of Cash Flows Name CP 14-8 continued Cash used by financing activities: 4. (Appendix) Cash flow table: Balance Change Cash Effect 2020 2019 Dr(Cr) Dr(Cr)Dr CInflow OutflowActivity Account net cash flow CP 14-8 Assume the following income statement and balance sheet information Service revenue (all cash) Operating expenses $175 Salaries (all cash) Net income 85 2020 2019 $1,600 $1,800 Current assets Cash Short-term invest. $1,250 Liabilities Borrowings 1,000 Stockholders' equity 300 Common stock Retained earnings 200 50 500 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non- current. No gain or loss occurred when common stock was repurchased Required 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to CHAPTER FOURTEEN The Statement of Cash Flows CP 14-8 1 Adjustments to net income: Name 2. The statement of changes in equity would show: Common Retained Total shares earnings equity 3. Analysis of borrowings: The journal entry to construct the SCF would be Date Description Debit Credit CHAPTER FOURTEEN The Statement of Cash Flows Name CP 14-8 continued Cash used by financing activities: 4. (Appendix) Cash flow table: Balance 2020 2019 Dr(Cr) Dr(Cr)Dr Change Cash Effect Cr Inflow Outflow Activity Account Snet cash flow CP 14-8 Assume the following income statement and balance sheet information $175 Service revenue (all cash) Operating expenses Salaries (all cash) Net income 90 2020 2019 Current assets $1,600 200 Cash Short-term invest. $1,250 100 $1350$1,800 Liabilities Borrowings Stockholders' equity Common stock Retained earnings 200 300 500 550 $1,350 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non current. No gain or loss occurred when common stock was repurchased Required. 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity 3. Calculate cash flow from financing activities 4. (Appendix) Prepare a cash flow table. Show that cash effects netto $450 outflow CHAPTER FOURTEEN The Statement of Cash Flows CP 14-8 1. Adjustments to net income Name 2. The statement of changes in equity would show Common Retained Total shares earnings equity Analysis of borrowings: 3. The journal entry to construct the SCF would be: Debit Credit Date Description CHAPTER FOURTEEN The Statement of Cash Flows Name CP 14-8 continued Cash used by financing activities: 4. (Appendix) Cash flow table: Balance Change Cash Effect 2020 2019 Dr(Cr) Dr(Cr)Dr CInflow OutflowActivity Account net cash flow CP 14-8 Assume the following income statement and balance sheet information Service revenue (all cash) Operating expenses $175 Salaries (all cash) Net income 85 2020 2019 $1,600 $1,800 Current assets Cash Short-term invest. $1,250 Liabilities Borrowings 1,000 Stockholders' equity 300 Common stock Retained earnings 200 50 500 $1,800 Other information: The short-term investments are riskless and will be converted to a known amount of cash in 60 days. Borrowings are non- current. No gain or loss occurred when common stock was repurchased Required 1. Calculate cash flow from operating activities. 2. Prepare the 2020 statement of changes in equity 3. Calculate cash flow from financing activities. 4. (Appendix) Prepare a cash flow table. Show that cash effects net to CHAPTER FOURTEEN The Statement of Cash Flows CP 14-8 1 Adjustments to net income: Name 2. The statement of changes in equity would show: Common Retained Total shares earnings equity 3. Analysis of borrowings: The journal entry to construct the SCF would be Date Description Debit Credit CHAPTER FOURTEEN The Statement of Cash Flows Name CP 14-8 continued Cash used by financing activities: 4. (Appendix) Cash flow table: Balance 2020 2019 Dr(Cr) Dr(Cr)Dr Change Cash Effect Cr Inflow Outflow Activity Account Snet cash flow
