Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the data in the tables below, compute Net Cash Flow from Financing Activities for Auburn Tangerine, Inc. for Year 2: Auburn Tangerine, Incorporated

image text in transcribed

Using the data in the tables below, compute Net Cash Flow from Financing Activities for Auburn Tangerine, Inc. for Year 2: Auburn Tangerine, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 Year 2 Cash 16,200 17,600 Accounts receivable 97,200 96,800 Inventory 153,900 176,000 Total current assets 267,300 290,400 Gross fixed assets" 631,800 686,400 (Accumulated depreciation) (121,500) (132,000) Net fixed assets 510,300 554,400 Land 32,400 35,200 Total assets 810,000 880,000 Notes payable 24,300 17,600 Accounts payable 72,900 70,400 Accruals 8,100 26,400 Current portion of LT Debt 56,700 70,400 Total current liabilities 162,000 184,800 Long-term debt 178,200 184,800 Common stock 145,800 158,400 Paid in capital 40,500 44,000 Retained earnings 283,500 308,000 Total liabilities and equity 810,000 880,000 Additional Data from Company Income Statement(s); Sales in Year 2 = 1,892,000 .Net income in Year 2 = 38,380 Record your answer as a dollar amount with no decimal places, but do not record a dollar sign or any commas. For example, record $10,280.38 as 10280. If your answer is a negative amount, put a hyphen before the number with no space between the number and the hyphen. For example, record negative 38 as -38.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Managerial Accounting Tools for Business Decision Making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

4th Canadian edition

1118856996, 978-1118856994

Students also viewed these Accounting questions

Question

Why do some employees work well in teams and others do not?

Answered: 1 week ago