Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 13,343.00 ??? 20,212.00 ??? 2,850 2,850 22,826.00 18,751.00 500 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.

Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 13,343.00 ??? 20,212.00 ??? 2,850 2,850 22,826.00 18,751.00 500 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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14 BALANCE SHEET 15 ASSETS 16 Cash and marketable securities 17 Accounts receivable O 0.27 O 1.37 A 3.68 18 Inventory 19 Current assets 20 Land, buildings, plant, and equipment 21 Accumulated depreciation 22 Net fixed assets 23 Total assets 24 LIABILITIES AND EQUITIES 25 Short-term bank loans 26 Accounts payable 27 Accruals 28 Current liabilities 29 Long-term debt 30 Common stock 31 Retained earnings 32 Total equity 33 Total liabilities and equity 34 Current Ratio Based on the balance sheet shown above, what is the current ratio at C34 cell for the current ratio in 2015? Onone of the answers is correct. 3.16 B 2016 C 2015 $37,974 $154,550 10,000 6,000 250,000 135,000 $297,974 $295,550 $250,000 $125,000 50,000 25,000 $200,000 $100,000 $497,974 $395,550 $70,000 $72,500 9,999 5,253 3,666 2,550 $83,665 $80,303 $233,500 $135,500 $160,000 $160,000 20,810 19,747 $180,810 $179,747 $497,974 $395,550 ?
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Problem 2 You are the controller for 21" Century Technologies. Your staff has prepared an income statement for the current year and has developed the following additional information by analyzing changes in the company's balance sheet accounts. 21 Century Technologies Income Statement For the year ended December 31, 2009 Revenue: Net Sales Interest Revenue Gain on sales of marketable securities Costs and expenses: Costs of goods sold Operating expenses (including depreciation of $225 000) Interest expense Income tax expense Loss on sales of plant assets Net Income 4,800,000 60,000 $1,000 2,430,000 1,860,000 63,000 150,000 18,000 390,000 Additional information: 1. Accounts receivable increased by $90 000 2. Accrued interest receivable decreased by $3 000 3. Inventory decreased by $90 000 and accounts payable to suppliers of merchandise decreased by $24 000 4. Short-term prepayments of operating expenses increased by $9 000 and accrued liabilities for operating expenses decreased by $12…
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