FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Given the following information about Sandhill Sporting Goods, Inc., construct a balance sheet for June 30, 2017. On that date the firm had cash and marketable securities of $25,135, accounts receivables of $43,758, inventory of $168,500, net fixed assets of $320,700, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $224,500, and common stock of $150,000. How much retained earnings did the firm have?arrow_forwardStatement of Cash FlowPresented below are the financial statements for the Amphlett Corporation, as of year-end 2012 and 2013. AMPHLETT CORPORATIONConsolidated Balance Sheets As of Year-End ($ thousands) 2013 2012 Assets Current Cash $18,000 $108,000 Marketable securities 240,000 - Accounts receivable (net) 708,000 528,000 Inventory 720,000 738,000 Total current assets 1,686,000 1,374,000 Noncurrent Long-term investments 372,000 468,000 Property & equipment 2,160,000 1,320,000 Less: Accumulated depreciation (600,000) (600,000) Property & equipment (net) 1,560,000 720,000 Intangibles (net) 114,000 126,000 Total noncurrent assets 2,046,000 1,314,000 Total assets $3,732,000 $2,688,000 Liabilities & Shareholders' Equity Accounts payable $1,080,000 $1,020,000 Short-term bank debt 228,000 - Total liabilities 1,308,000 1,020,000…arrow_forwardJones Industries received $800,000 from issuing shares of its common stock and $650,000 from issuing bonds. During the year, Jones Industries also paid dividends of $110,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank.arrow_forward
- Super Grocers, Inc. provided the following financial information for the quarter ending September 30, 2016. Find the net cash flow from operating activites. Depreciation and amortization: $133,414 Net Income: $341,463 Increase in receivables: $112,709 Increase in inventory: $81,336 Increase in accounts payables: $62,411 Decrease in marketable securities: $31,225 Issued new common stock: $3,500 O $343,243 ○ $374,468 O $308,458 O $312,018arrow_forwardIn 2018 Calvia Corporation had cash receipts of $35,000 and cash disbursments of $20,000. Calvia's ending cash balance at December 31,2018 was $65,000. What was Calvia's beginning cash balance?arrow_forwardThe following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 Cash flows from investing activities: -50,000 30,000 100,000 Net cash flows from investing activities 160,000 5,000 85,000 90,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $ 0arrow_forward
- Tyler, Inc.’s cash balance at December 31, 2011, the end of its financial reporting year, was $155,000. During 2011, cash provided by operations was $145,000, cash used in investing activi-ties was $67,000, and cash provided by financing activities was $10,000. Calculate the amount of Tyler’s beginning cash balance at January 1, 2011.arrow_forwardThe Coneflower Company had $312,000 in cash at the beginning of the year (January 1, 2020). Using the data in the chart, prepare a statement of Cash Flows. Cash paid for other operating activities $1,291,000 Cash paid for dividends 16,900 Cash received from selling equipment and other assets 16,300 Cash paid on notes payable 412,000 Cash paid to suppliers and employees 1,258,900 Cash collected from customers 3,840, 700 Cash paid to purchase equipment and other assets 140, 200arrow_forward
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