Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jeffersonson, Inc. Balance Sheets For the years ending December 31, 2011 and 2012) Cash Accounts receivable Inventory Current assets Net fixed assets Land Total assets

image text in transcribed
Jeffersonson, Inc. Balance Sheets For the years ending December 31, 2011 and 2012) Cash Accounts receivable Inventory Current assets Net fixed assets Land Total assets 2011 500 2,800 9,300 12,600 48,200 11,600 72,400 2012 500 2,400 9900 12,800 61,400 12,900 87,100 Notes payable 1,200 1,000 Accounts payable 1,900 1,700 Accruals 100 Current portion of LT Debt 3,200 4,200 Current liabilities 6,400 6,900 Long-term debt 12,600 28,300 Common stock 21,000 20,000 Additional paid in capital 18,400 17,400 Retained earnings 14,000 14,500 Total liabilities and equity 72,400 87,100 In its 2011 income statement. Jefferson Inc. reported net income of $1,140 and depreciation expense of $500. On its 2012 income statement, the company reported net income of $1.710 and depreciation expense of $510. Based on this information (and given the company's balance sheets for 2011 and 2012 in the chart above). compute Net Cash Flows from Investing Activities for Jefferson in 2012. Record your answer as a dollar rounded (if necessary) to the nearest whole dollar, but do not include a dollar sign or any commas in your answer. Also, if your answer is a negative value, place a hyphen (.e. -) before your answer with no space between the - and the number. For example, record - $23,426.9234 as -23427

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

More Books

Students also viewed these Finance questions