Share
Explore BrainMass

Statement of Cash Flows

Prepare a statement of cash - ERNEST BANKS COMPANY

ERNEST BANKS COMPANY Comparative Balance Sheets December 31 Assets 2006 2005 Cash $ 23,000 $ 13,000 Accounts receivable 24,000 33,000 Merchandise inventory 20,000 27,000 Prepaid expenses 20,000 13,000 Land 40,000 40,000 Property, plant, and equipment 200,000 225,000 Less: Accumulated depreciation (50,000) (67

Mostert Music Company had the following transactions in March:

Help answering these attached questions. Chapter 3: Mini-Exercise M3-2 Mostert Music Company had the following transactions in March: 1. Sold instruments to customers for $10,000; received $6,000 in cash and the rest on account. The cost of the instruments was $7,000 2. Purchased $4,000 of new instruments inventory; paid

Cash flows from operating activities (indirect)

Please see pdf file. Exercise 12-4: Cash flows from operating activities (indirect) L.O. P2 Olhstead Company's calendar-year 2008 income statement shows the following: Net Income, $374,000; Depreciation Expense, $44,000; Amortization Expense, $7,200; Gain on Sale of Plant Assets, $6,000. An examination of the company's cur

Statement of cash flows (indirect method)

Please see pdf file. Forten Company, a merchandiser, recently completed its calendar-year 2008 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash p

Prepare a Sources-and-uses-of-cash Statement

Prepare a Sources-and-uses-of-cash Statement. ?Explain what conclusions you are able to make regarding the cash position of this firm after reviewing the information you prepared. S/B CORPORATION Balance Sheet December 31, 20X2 (in thousands) 20X2 20X1 Assets Cash . . . . . . . . . . . . . . . . . . . . . . . . .. . .

Statement of Cash Flows for Taguchi Company

I need help with the attached information. Here are comparative balance sheets for Taguchi Company. TAGUCHI COMPANY Comparative Balance Sheets December 31 Assets 2007 2006 Cash $ 73,000 $ 22,000 Accounts receivable 85,000 76,000 Inventories 170,000 189,000 Land 75,000

Tovar Corporation: Cash Flow Statement

Please note that values are different here than on the attachment problem 14-4B. Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2008, using the indirect method. The three accounts shown below appear in the general ledger of Tovar Corp.

Iridium Corp: Sunk cost, opportunity cost and relevant cash flow

Iridium Corp. has spent $3.5 billion over the past decade developing a satellite based telecommunication system. It is currently trying to decide whether to spend an additional $350 million on the project. The firm expects that this outlay will finish the project and will generate cash flow of $15 million per year over the nex

Logan Company: Statement of cash flows

The comparative balance sheets for Logan Company appear below: LOGAN COMPANY Comparative Balance Sheet Dec. 31, 2003 Dec. 31, 2002 Assets Cash $61,000 $12,000 Accounts receivable 5,000 8,000 Inventory 11,000

Problem 8: Prepare a cash flow statement using the direct method

Please see attached file. Problem 8: The owner of a small business has asked you to prepare a statement that will show him where his firm's cash came from and how it was used this year. He gives you the following information based on the Cash account in his general ledger. Balance at beginning of year $3,450 Collecti

Prepare a cash flow statement using the indirect method

Prepare statement of cash flows -indirect method The comparative balance sheets at January 31 and February 28, 2004 Balance Sheets February 28 and January 31, 2004 February 28, 2004 January 31, 2004 Assets Cash $42,000 $30,000 Accounts receivable

Indirect and Direct Method: Calculate Cash Flows

1. The 2007 accounting records of Verlander Transport reveal these transactions and events. Payment of interest $ 10,000 Collection of accounts receivable $182,000 Cash sales 48,000 Payment of salaries and wages 53,000 Receipt of dividend revenue 18,000 Depreciation expense 16,000 Payment of income taxes 12,000 Proceeds fr

Bryers Corporation: Statement of Cash Flows

Presented below is information related to the operations of Bryers Corporation. December 2006 2005 2006_ Cash $ 63,000 $ 40,000 Sales $420,000 Accounts receivable 58,000 48,000 Cost of goods sold 190,000 Inventory 37,000 22,000 Gross profit 230,000 Prepaid expenses 16,000 20,000 Depreciation expense 14,

Statement of cash flows - operating activities

Prepare the operating activities section of the statement of cash flows using the indirect and direct method. P17-5A Grania Company's income statement contained the condensed information below. GRANIA COMPANY Income Statement For the Year Ended December 31, 2008 Revenue $970,000

Cash Flow

Explain the value of separating cash flows into operating activities, investing activities, and financing activities to financial statement users in analyzing cash flows and the company's financial performance and condition.

Analysis of Cash Flows for Lamb Corporation

Analysis of Cash Flows In its consolidated cash flow statement for the year ended December 31, 20X2, Lamb Corporation reported operating cash inflows of $284,000, cash outflows of $230,000, and $80,000 for investing and financing activities, respectively, and an ending cash balance of $57,000. Lamb purchased 70 percent of Mint

Exercise: Integrative-Determining Relevant Cash Flow

Stanforth Research is evaluating the purchase of a highly sensitive temperature measurement equipment (TME) device. The new device will replace an existing piece of equipment that was purchased two years ago for $60,000 and is being depreciated using a five-year recovery period under ACRS. This equipment has 5 years of useful li

Statement of cash flows

A work in process account for a company contained the following entries: Work in process account Debit of $40,000 for direct raw materials Debit of $60,000 for direct labor Debit of $30,000 for manufacturing overhead Ending balance, $42,000, associated with job #2 The company uses a job-order cost system. Work was on

Statement of cash flow

Prepare statement of cash flows (indirect method) using balance sheet data. Presented below are comparative balance sheets for Branco, Inc., at January 31 and February 28, 2004. Please provide simple step by step explanations. BRANCO, INC. Balance Sheets February 28 and January 31, 2004 F

Statement of Cash Flows: operating, investing, financing activities

1. Which of the following is a cash flow from an investing activity? payment for advertising cash receipt from a customer for a previous credit sale cash received from sale of equipment payment of dividends 2. Sonny's Liquors, Inc. had the following cash flows during March: Paid for in