Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Huimin Ltd, nad the following account balances at December 31, 2021: Account Name Amount Dividends $2,500 Prepaid expenses 1,500 Interest expense 750 Website expense 600

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Huimin Ltd, nad the following account balances at December 31, 2021: Account Name Amount Dividends $2,500 Prepaid expenses 1,500 Interest expense 750 Website expense 600 Accounts receivable 17,300 Deferred revenue 850 Income tax expense 3,750 Collections from customers 37,945 Purchase of intangibles 1,020 Payments to suppliers 35,600 Travel expense 1,800 Retained earnings (beginning of year) 3,700 Payment of dividends 2,500 Insurance expense 2,400 Office supplies expense Cash (beginning of year) 31,550 Service revenue 33,720 Cash received from debt 10.000 Prepaid insurance 1,200 Office supplies 975 Business licence 60 Cash (end of year) 47,875 Income tax payable 500 Owner's capital 21,000 Website design 960 Telephone expense 375 Contributions by owners 7,500 Accounts payable 12,625 Bank loan payable, due in 2025 10,000 350 Question 19 (2 points) What is total cash flow from investing activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a '+' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a '-' sign. For example, outflow of $10,485 enter as - 10485 A Question 20 (2 points) What is total cash flow from operating activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a '+' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a '-' sign. For example, outflow of $10,485 enter as - 10485 A/ Question 21 (2 points) What is total cash flow from financing activities on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a '+' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a '-' sign. For example, outflow of $10,485 enter as - 10485 A Question 22 (2 points) What is the net change in cash on this company's statement of cash flows? If the amount is an INFLOW enter the amount with a 't' sign. For example, inflow of $12,682 enter as +12682 If the amount is an OUTFLOW enter the amount with a '-' sign. For example, outflow of $10,485 enter as - 10485 A Question 10 (2 points) What is total current assets on this company's balance sheet? A/ Question 11 (2 points) What is total assets on this company's balance sheet? A/ Question 12 (2 points) What is total current liabilities on this company's balance sheet? A

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

Accounting Principles A Business Perspective Financial Accounting Chapters 9 To 18

Authors: Bill Buxton, Amy Sibiga

1st Edition

1461160863, 978-1461160861

More Books

Students also viewed these Accounting questions

Question

What is ergonomics? How can it be applied to office workers?

Answered: 1 week ago

Question

Exude confidence, not arrogance.

Answered: 1 week ago