A comparative balance sheet for Tiger Company appears below: TIGER COMPANY Comparative Balance Sheet 12/31/2008 12/31/2007 Assets Cash $23,000 $10,000 Accounts receivable 18,000 14,000 Inventory 27,000 18,000 Prepaid expenses 6,000 9,000 Long-term investments -0- 18,000 Equipment 60,000 32,000 Accumulat
Andrews Inc., a greeting card company, had the following statements prepared as of December 31, 2010. ANDREWS INC. Comparative Balance Sheet as of December 31, 2010 and 2009 12/31/10 12/31/09 Cash $ 5,819 $ 8,975 Accounts Receivable 61,872 48,801 Short-term investments (Available-for-sale) 35,033 18,107 Inventories 3
Rapture Company's 2011 income statement and selected balance sheet data at December 31, 2010 and 2011 follow. Prepare the Statement of Cashs - Only the operating section is required. RAPTURE COMPANY Selected Balance Sheet Accounts At December 31 2011 2010 Accounts receivable ........
The Operating Cash Flow Section of the Cash flow statement using the Indirect Method and Calculation of the amount of dividends paid
Condensed financial statements for Dragon Enterprises follow. (A) Calculate the amount of dividends Dragon paid using the information given. (B) Prepare the Operating Cash Flow Section of the statement of cash flows using the indirect method. Comparative Balance sheets Dec 31, 2009 and 2008 2009 2008 Cash 1,2
4.7 Indicate whether each of the following items would result in net cash flow from operating activities being higher (H) or lower (L) than net income. (A) Decrease in accounts payable. (B) Depreciation expense. (C) Decrease in Inventory. (D) Gain on sale of assets. (E) Increase in accounts receivable. (F) Increase in defe
4. Free cash flow can be utilized to A. retire stock or debt. B. acquire new assets. C. pay additional dividends. D. All of the above are correct. 5. The payment of cash dividends will A. Increase the operating section of the statement of cash flows. B. Decrease the operating
How does the income statement articulate with the Balance sheet? 2. Comment on the major changes in expenses between the two financial years. 3. Distinguish between depreciation and amortisation 4. When is hospital service income regconised in the income statement? please explain. 5. There was a significiant increase in"other operation income" from 2008 to 2009. What was the main contributing factors that explains this increase? 6. An asset is similar to an expense. Do you agreed? please explain with reason. 7. Although the income statement is a record of past achievement, the calculations required for certain expenses involce estimates of the future". what is meant by this statement? Can you think of examples where estimates of the future are used??? 8." Depreciation is a process of allocation and not valuation" what it meant? 9. How would you suggest a bunsiness determine the bad and doubful debts' expenses for a given period? 10. The cash flow statement provides an explanation of the change in cash for the reporting entity. what is included in cash? 11. In what ways is the cash flow: - Similar to the income statment? - different from the income statement? 12. For the three categories of sources / uses of cash summarised in the cash flow statement, comment on the significant changes between 2009 and 2010. 13. What factors could give rise to the accounting "accrual profit" exceeding the cash flow from operating activites? 14. If you reviewed the cash flow statement for an organisation over several years and what would you expect to observe about the net flow from each of the three different activites?
Please help ( refer to the attachment) as unable to explain with the balance sheet. 1. How does the income statement articulate with the Balance sheet? 2. Comment on the major changes in expenses between the two financial years. 3. Distinguish between depreciation and amortisation 4. When is hospital service income r
The following balances are available for Chrisman Company. December 31 Cash 2010=$8,000 2009=$10,000 Accounts receivable 2010=$20,000 2009=$15,000 Inventory 2010=$15,000 2009=$25,000 Prepaid rent 2010=$9,000 2009=$6,000 Land 2010=$75,000 2009=$75,000 Plant and equipment 2010= $400,000 2009=$300,000 Totals= 2010=$462,00
See attached file for proper format. Number 1 Compute the present value of the following periodic amounts due at the end of the designated periods. a) $57,500 receivable at the end of each period for 8 periods compounded at 12%. b) $77,700 payments to be made at the end of each period for 16 periods at 9%. c) $85,100 pa
Statement of cash flows For each event listed below, select the appropriate category which describes the effect of the event on the statement of cash flows a) Cash provided/ used by operating activities b) cash provided/ used by investing activities c) cash provided/ used by financing activities d) not a cash flow 1
9. Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales ........................................................................................................... $ 600,000 Shares outstanding .............................................
This solution assists in determining cash flows for specific problems. E14-2 An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Gagliano Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary. Instruct
Commerce Company provides the following comparative data: 12.31.09 12.31.10 Cash $ 93 $ 127 Accounts Receivable
Indicate in which part of the statement of cash flows each item would appear: Operating activities Investing activities Financing activities Operating Investing Financing (a) Cash received from customers. Financing Operating Investing (b) Cash paid to stockholders (dividends). Financing Operating Investing (c) Ca
The comparative balance sheets for Hinckley Corporation show the following information: December 31 2010 2009 Cash $33,500 $13,000 Accounts receivable 12,250 10,000 Inventory 12,000 9,000 Investments
See attached file. As contained in the Week Four electronic reserve readings article readings, this article, Broome, O. W. (2004, March/April). Statement of cash flows: Time for change! Financial Analysts Journal, 60(2), 16. , describes the current SFAS No. 95 requirements for the statement of cash flows, cites recent cases o
The cash flow data of Greenleaf Company for the year ended December 31, 2004 are as follows: Cash payment of dividends $ 50,000 Purchase of land $ 48,000 Cash payments for interest $ 20,000 Cash payments for salaries $ 90,000 Sale of equipment $ 76,000 Retirement of common stock
Bloom Corporation had the following 2010 income statement. Sales $200,000 Cost of goods sold 120,000 Gross profit 80,000 Operating expense (including depreciation of $21,000) 50,000 Net income $30,000 The following accounts increased during 2011: accounts receivable $12,000; inventory $11,000; accoun
Illustrate the process for moving from transactions to the development of the income statement. The relationship between the balance sheet and the statement of cash flows. In what sense is the statement of cash flows a derivative statement of the balance sheet? The linkages between the income statement and the balance sh
See attached files. Case 7-1 Analysis of Cash Flows Refer to the annual report of Dell in Appendix A: Required: a. Explain how the following items create differences between Dell's earnings from continuing operations and its net cash provided by operating activities: (1) Depreciation and amortization (2) Change in
(Preparation of Operating Activities Section-Indirect Method) Norman Company's income statement for the year ended December 31, 2010, contained the following condensed information. Revenue from fees $840,000 cr Operating expenses (excl. depreciation) $624,000 db Depreciation expense 60,000 db Loss on sale of
(Preparation of Operating Activities Section-Direct Method) Norman Company's income statement for the year ended December 31, 2010, contained the following condensed information. Revenue from fees $840,000 cr Operating expenses (excl. depreciation) $624,000 db Depreciation expense 60,000 db Loss on sale of e
1. The Johnson Company bought a truck costing $24,000 two and a half years ago. The truck's estimated life was four years at the time of purchase. It was accounted for by using straight line depreciation with zero salvage value. The truck was sold yesterday for $19,000. What taxable gain must be reported on the sale of the tr
For each of the transactions, identify: 1. If the transaction is a cash inflow (CI), or a cash outflow (CO), or a non cash flow transaction (NT). 2. Each transaction as an operating activity (OA), an investing activity (IA), or a financing activity (FA), or a non cash flow transaction (NT). 1. Proceeds from issuance of de
The following transactions occurred during March 2011 for Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 30,000 shares of capital stock in exchange for $300,000 in cash 2. Purchased equipment at a cost of $40,000. $10,000 cash was paid and a note payable was signed for the balance
Please help with attached cash flow question. Income statement 2010 2009 Sales $880,000.00 $801,000.00 Cost of goods sold -$590,000.00 -$490,000.00 Gross profit $290,000.00 $311,000.00 Gain on disposal of assets $5,000.00 Loss on sale of long term inv
The following account information is available for Park Company for 2004. Account Title Beginning of year End of Year Accounts Receivable $26,000 $24,000 Merchandise Inventory 52,000 56,0
SHOEBOX ENTERPRISES INC. sells personalized items such as mugs, key chains, and plaques to the public. The company was started by two high school friends....(see case study pdf files attached): Complete the statement of cash flows for 2010. Data: SHOEBOX ENTERPRISES INC. BALANCE SHEETS AS AT DECEMBER 31, 20
1. Indicate whether the transaction is an operating activity, a financing activity, or an investing activity. Assume all purchase and sale transactions are for cash unless otherwise stated. Depreciation expense operating activity financing activity investing activity 2. Dairy Delights reported the fol
McGro & Associates public accounting firm. In your organization, identify at least four significant decisions that must consider cash flow. For each decision, explain why cash flow is important.