Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need forecast cash flow statement of the Mexico Company Cash Accounts receivable Inventory Prepaid insurance Total current assets Land Plant & equipment Accumulated depreciation

i need forecast cash flow statement image text in transcribed
of the Mexico Company Cash Accounts receivable Inventory Prepaid insurance Total current assets Land Plant & equipment Accumulated depreciation Total non-current assets The beginning and ending balances in each of the balance sheet accounts are as follows: Dec. 31. 2019 Dec 31, 2020 P260,000 P100,000 180.000 360,000 400,000 460,000 50,000 30,000 P890,000 P950,000 P1.200,000 P1,500,000 1,000,000 1,400.000 (400,000 (500.000) P1.800.000 P2.400.000 Total assets P2,690.000 P3,350,000 Accounts payable Accrued operating expenses Interest payable Income taxes payable Total current liabilities Bonds payable Common stock Retained earnings P 300,000 200.000 20,000 122.000 P 642.000 600,000 800,000 648.000 P 260,000 132.000 30,000 150,000 P 572.000 700,000 1,100,000 978.003 Total liabilities & equity P2.690,000 P3,350.000 The forecast income statement for the Mexico Company for 2020 is presented below: Sales Cost of sales Gross profit Operating expenses Income before interest & tax Interest expense Income before tax income tax Net income P2,500,000 1,400,000 P1,100,000 300,000 P800,000 50,000 P750,000 300,000 P450,000 REQUIRED: 1. Prepare a forecast cash flow statement for 2020

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_2

Step: 3

blur-text-image_3

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

Montgomery Auditing Continuing Professional Education

Authors: Patrick J. McDonnell, Barry N. Winograd, James S. Gerson, Henry R. Jaenicke, Vincent M. O'Reilly

12th Edition

0471346055, 978-0471346050

More Books

Students also viewed these Accounting questions