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I need assistance answering questions 2-4, I have already answered question 1 Baffled Incorporated December 31, 2014 and 2015 Balance Sheets are as follows: Cash

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I need assistance answering questions 2-4, I have already answered question 1

image text in transcribed Baffled Incorporated December 31, 2014 and 2015 Balance Sheets are as follows: Cash Accounts Receivable Interest Receivable Inventory Prepaid Insurance TOTAL CURRENT ASSETS 2014 200,000 90,000 300,000 558,000 183,000 $1,331,000 2015 120,000 100,000 183,000 591,000 81,000 $1,075,000 Land 420,000 500,000 Equipment 1,940,000 1,810,000 Accumulated Depreciation (691,000) (705,000) ============================================================ TOTAL ASSETS $ 3,000,000 2,680,000 Accounts Payable Salaries Payable Taxes Payable Advance from Customer TOTAL CURRENT LIABILITIES Loan Payable Bonds Payable Note Payable 444,000 156,000 282,000 226,000 $1,108,000 90,000 324,000 173,000 200,000 195,000 177,000 162,000 $734,000 280,000 264,000 128,000 Common Stock 390,000 500,000 Treasury Stock (33,000) (46,000) $4.25 Preferred Stock 178,000 200,000 Retained Earnings 770,000 620,000 ============================================================ TOTAL LIABILITIES and OE $ 3,000,000 $ 2,680,000 Additional Information: 1. Baffled paid COMMON stock dividends of $ 153,000 on December 31, 2015. 2. Baffled paid the PREFERRED Stock dividends on December 31, 2015 3. As of Dec 31, 2015 Baffled had 70000 shares of common stock outstanding, 12000 shares of $4.25 preferred stock, and 6000 shares of treasury stock. 4. During 2015, Baffled sold equipment originally costing $240,000 for $125,000 cash and recorded a loss of $60,000. They did not sell any land during the year. 1) What was Baffled's total CASHFLOW for 2015 ? Statement of Cash Flow for 2015 Cash Flow from Operating Activities: Net Income 54,000 Add Depreciation 69,000 Add Loss on Sale of Equipment 60,000 Increase in Accounts Receivable (10,000) Decrease in Interest Receivable 117,000 Increase in Inventory (33,000) Decrease in Prepaid Insurance 102,000 Decrease in Accounts Payable (244,000) Decrease in Advance from Customers (64,000) Increase in Salaries Payable 39,000 Decrease in Taxes payable (105,000) Net Cash From /(Used by) Operating Activities Cash Flow from Investing Activities: (69,000) (15,000) Sale Of Equipment's 125,000 Purchase Of Land (80,000) Purchase of Equipment's (110,000) Net Cash used by Investing Activities Cash Flow from Financing Activities: (65,000) Increase in Loans payable 190,000 Repayment of Bonds (60,000) Repayment of Notes (45,000) Issue of Common Stock Purchase of Treasury Stock 110,000 (13,000) Issue of Preferred Stock 22,000 Payment of Common Stock Dividend (153,000) Payment of Preferred Stock Dividend Net Cash From Financing Activities (51,000) Net Decrease in Cash 0 (80,000) 2) What was the company's CASH FLOW FROM OPERATIONS for 2015. YOU MUST SHOW YOUR WORK and NOTE WHERE THE NUMBER COMES FROM. (for example: \"change in A/R\" or, \"increase inventory\Cash Flow from Operating Activities: Net Income Add Depreciation Add Loss on Sale of Equipment Increase in Accounts Receivable Decrease in Interest Receivable Increase in Inventory Decrease in Prepaid Insurance Decrease in Accounts Payable Decrease in Advance from Customers Increase in Salaries Payable Decrease in Taxes payable Net Cash From /(Used by) Operating Activities 54,000 69,000 60,000 -10,000 117,000 -33,000 102,000 -244,000 -64,000 39,000 -105,000 -69,000 -15,000 Cash Flow from Investing Activities: Sale Of Equipment's Purchase Of Land Purchase of Equipment's Net Cash used by Investing Activities 125,000 -80,000 -110,000 -65,000 Cash Flow from Financing Activities: Increase in Loans payable Repayment of Bonds Repayment of Notes Issue of Common Stock Purchase of Treasury Stock Issue of Preferred Stock Payment of Common Stock Dividend Payment of Preferred Stock Dividend Net Cash From Financing Activities 190,000 -60,000 -45,000 110,000 -13,000 22,000 -153,000 -51,000 0

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