FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Saxe Banners reported the following figures in its financial statements: Cash $ 25,000 Cash Equivalents Total Current Liabilities 33,000 40.000 Compute the cash ratio for Saxe Banners. Determine the formula, then calculate the cash ratio. (Enter the cash ratio to two decimal places, X.XX.) + )÷ Question Viewer = = Cash ratioarrow_forwardEffect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $340,000 of bonds, on which there was $3,400 of unamortized discount, for $354,000. b. Sold 7,000 shares of $25 par common stock for $56 per share. c. Sold equipment with a book value of $65,500 for $94,300. d. Purchased land for $326,000 cash. e. Purchased a building by paying $81,000 cash and issuing a $90,000 mortgage note payable. f. Sold a new issue of $280,000 of bonds at 97. g. Purchased 2,800 shares of $20 par common stock as treasury stock at $39 per share. h. Paid dividends of $2.50 per share. There were 21,000 shares issued and 3,000 shares of treasury stock. Effect Amount Cash payment а. b. Cash receipt Cash receipt C. d. Cash payment $1 Cash payment е. f. Cash receipt Cash payment g. h. Cash paymentarrow_forwardActivity From the following balances, prepare a balance sheet for Nikea Corp. as of December 31, 2014. Cash in bank: $12,000 Bonds payable: $32,000 Accounts receivable: $17,000 Inventories: $ 40,000 Supplies: Common stock: $15,200 $52,000 Buildings: Accounts payable: Additional paid-in capital: $25,000 Retained earnings: $75,000 $15,000 $ 25,200 Loans Payable: $10,000 Font Sizes = E EE三三 A 4.arrow_forward
- The following is the Comparative Balance Sheet of M/s Manish Ltd. Prepare a Funds Flow Statement and verify your answer. Liabilities Assets 31st Dec., 31st Dec., 31st Dec., 31st Dec., 2013 2014 2013 2014 Creditors 40,000 344,000 Cash 10,000 37,000 Loan 25,000 Debtor's 330,000 350,000 Loan from S.B.I 40,000 50,000 Stock 335,000 25,000 Capital 31,25,000 31,53,000 Machinery 380,000 355,000 2,30,000 32,47,000 Land 40,000 350,000 Building 35.000 360.000 2,30,000 32,47,000 During the year machine costing 10,000 (accumulated depreciation 3,000) was sold for 35,000. The provision for depreciation against machinery as on 31.12.13 was 25,000 and on 31.12.14 was 40,000. Net profit for the year amounted to 345,000. you are required to prepare Funds Flow statement.arrow_forward(30) Bonds with a face value of $270,000 are issued at 103. The statement of cash flows would report a cash inflow of: A. $278,100 in the financing activities section B. $270,000 in the investing activities section C. $270,000 in the financing activities section D. $8,100 in the financing activities sectionarrow_forwarda corporation reported cash of 15,200 and total assets of 179,500 on its balance sheet its common size percent for cash equals 8.47% 20.44% 13.97% 11.81% 6.47%arrow_forward
- Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $300,000 of bonds, on which there was $3,000 of unamortized discount, for $312,000. b. Sold 12,000 shares of $10 par common stock for $25 per share. c. Sold equipment with a book value of $61,500 for $88,600. d. Purchased land for $462,000 cash. e. Purchased a building by paying $45,000 cash and issuing a $100,000 mortgage note payable. f. Sold a new issue of $170,000 of bonds at 98. g. Purchased 3,600 shares of $35 par common stock as treasury stock at $68 per share. h. Paid dividends of $1.80 per share. There were 27,000 shares issued and 4,000 shares of treasury stock. a. b. C. d. e. f. g. h. Effect ▼ $ $ $ $ $ $ Amountarrow_forwardHh1. Accountarrow_forwardEffect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $210,000 of bonds, on which there was $2,100 of unamortized discount, for $218,000. b. Sold 7,000 shares of $20 par common stock for $43 per share. c. Sold equipment with a book value of $56,600 for $81,500. d. Purchased land for $391,000 cash. e. Purchased a building by paying $80,000 cash and issuing a $110,000 mortgage note payable. f. Sold a new issue of $180,000 of bonds at 97. g. Purchased 2,400 shares of $20 par common stock as treasury stock at $37 per share. h. Paid dividends of $1.70 per share. There were 20,000 shares issued and 3,000 shares of treasury stock. Effect Amount а. $ b. c. d. $ е. f. $ g. $ h.arrow_forward
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