Note: If numbers are part of your answer, use this format without leading Os: Positive numbers: $xxx,xxx. Negative numbers: $(xxx.xxx). Example: Positive number: $6,000 Negative number: $(6,000) You need spell out the month. Say, January (not Jan.) Answer the following questions: 1) What is the beginning balance of cash on January 1? (Hint: Look at the first line of the Daily Cash Balance) 2) What are net cash flows for all activities for the year? 3) Based on your responses in Required 1 and 2, what is the ending balance of cash on December 31? (Verify your answer by scrolling to the bottom of the Daily Cash Balance) 4) Employee salaries and wages are paid at the end of each month. The company's Chief Financial Officer (CFO) is concerned with payments being made to fictitious employees (sometimes referred to as ghost employees). For which month should the CFO be most suspicious of these fictitious employee payments? (Hint: hover your cursor over the numbers. Do NOT just read the labels of the dates.) > AJ > Note: If numbers are part of your answer, use this format without leading Os: Positive numbers: $xxx,xxx. Negative numbers: $(xxx.xxx). Example: Positive number: $6,000 Negative number: $(6,000) You need spell out the month. Say, January (not Jan.) Answer the following questions: Calculate the amounts to reports as cash flows from: (a) operating activities, (b) investing activities, and (c) financing activities. (Hint: De-select All under Cash Transaction Type, and then select the transaction by activity type. The Operating section uses the Direct method.) A/ A Net Cash Flows Daily Cash Balance $0 Day of Date January 1 (51.000) ($2,000) ($3,000) Cash Transaction Type (A) Borrow from the bank Collect from customers Issue common stock Pay dividends to stockholders Pay interst on borrowing Pay salaries and wages to employees Purchase equipment Purchase inventory Receive interest on investment Repay borrowing to the bank Sell Investments January 4 January 5 January 6 January January 8 January 11 (54,000) Transaction Beginning Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from custos Collect from customers issue common stock Collect from customers Collect from customers Collect from customers Collect from customers Purchase inventory Collect from customers Collect from customers Amount $125.000 $7.773 $7.722 $8,073 $2,341 $8,203 57.496 $7888 $300,000 $3,027 $6,882 57,546 57,209 $123.994) $6,893 $8.067 Balance $125,000 $132.723 $140,495 $148 568 $155.909 $164,112 $171,608 $179,496 $479,496 5487,522 $494,405 5501,951 $509,160 $385,166 $392,059 $400, 126 ($5,000) ($6.000) January 12 January 13 January 14 January 15 (57.000) ($8,000) January 18 January 19 8,076 Daily Net Increase/Decrease in Cash $300,000 $200,000 $100,000 50 TITIT ($100,000) Doco Nov 03 Jan 03 Oct 03 Sep 03 Mar 03 Aug 03 Apr 03 Jan 31 Jun 03 May 03 Julos Decal Date Amount Balance Day of Date January 19 January 20 January 21 January 22 January 25 January 26 January 27 January 28 January 29 January 31 February 1 February 2 Transaction Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Pay salaries and wages to Collect from customers Borrow from the bank Collect from customers Collect from customers Collect from customers Collect from customers $8,067 $7,253 $8,014 $7,662 $7,633 $7,931 $8,092 $8,068 $7,626 ($96,849) $7,936 $80,000 $7,413 $7,526 $7,347 $7,433 $400,126 $407,379 $415,393 $423,055 $430,688 $438,619 $446,711 $454,779 $462,405 $365,556 $373,492 $453,492 $460,905 $468,431 $475,778 $483,211 February 3 February 4 February 5 Note: If numbers are part of your answer, use this format without leading Os: Positive numbers: $xxx,xxx. Negative numbers: $(xxx.xxx). Example: Positive number: $6,000 Negative number: $(6,000) You need spell out the month. Say, January (not Jan.) Answer the following questions: 1) What is the beginning balance of cash on January 1? (Hint: Look at the first line of the Daily Cash Balance) 2) What are net cash flows for all activities for the year? 3) Based on your responses in Required 1 and 2, what is the ending balance of cash on December 31? (Verify your answer by scrolling to the bottom of the Daily Cash Balance) 4) Employee salaries and wages are paid at the end of each month. The company's Chief Financial Officer (CFO) is concerned with payments being made to fictitious employees (sometimes referred to as ghost employees). For which month should the CFO be most suspicious of these fictitious employee payments? (Hint: hover your cursor over the numbers. Do NOT just read the labels of the dates.) > AJ > Note: If numbers are part of your answer, use this format without leading Os: Positive numbers: $xxx,xxx. Negative numbers: $(xxx.xxx). Example: Positive number: $6,000 Negative number: $(6,000) You need spell out the month. Say, January (not Jan.) Answer the following questions: Calculate the amounts to reports as cash flows from: (a) operating activities, (b) investing activities, and (c) financing activities. (Hint: De-select All under Cash Transaction Type, and then select the transaction by activity type. The Operating section uses the Direct method.) A/ A Net Cash Flows Daily Cash Balance $0 Day of Date January 1 (51.000) ($2,000) ($3,000) Cash Transaction Type (A) Borrow from the bank Collect from customers Issue common stock Pay dividends to stockholders Pay interst on borrowing Pay salaries and wages to employees Purchase equipment Purchase inventory Receive interest on investment Repay borrowing to the bank Sell Investments January 4 January 5 January 6 January January 8 January 11 (54,000) Transaction Beginning Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from custos Collect from customers issue common stock Collect from customers Collect from customers Collect from customers Collect from customers Purchase inventory Collect from customers Collect from customers Amount $125.000 $7.773 $7.722 $8,073 $2,341 $8,203 57.496 $7888 $300,000 $3,027 $6,882 57,546 57,209 $123.994) $6,893 $8.067 Balance $125,000 $132.723 $140,495 $148 568 $155.909 $164,112 $171,608 $179,496 $479,496 5487,522 $494,405 5501,951 $509,160 $385,166 $392,059 $400, 126 ($5,000) ($6.000) January 12 January 13 January 14 January 15 (57.000) ($8,000) January 18 January 19 8,076 Daily Net Increase/Decrease in Cash $300,000 $200,000 $100,000 50 TITIT ($100,000) Doco Nov 03 Jan 03 Oct 03 Sep 03 Mar 03 Aug 03 Apr 03 Jan 31 Jun 03 May 03 Julos Decal Date Amount Balance Day of Date January 19 January 20 January 21 January 22 January 25 January 26 January 27 January 28 January 29 January 31 February 1 February 2 Transaction Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Collect from customers Pay salaries and wages to Collect from customers Borrow from the bank Collect from customers Collect from customers Collect from customers Collect from customers $8,067 $7,253 $8,014 $7,662 $7,633 $7,931 $8,092 $8,068 $7,626 ($96,849) $7,936 $80,000 $7,413 $7,526 $7,347 $7,433 $400,126 $407,379 $415,393 $423,055 $430,688 $438,619 $446,711 $454,779 $462,405 $365,556 $373,492 $453,492 $460,905 $468,431 $475,778 $483,211 February 3 February 4 February 5