Refer to the information below for CakePops Inc.a. Calculate the profit or loss for 2023.b. What caused common shares to change during 2023? Show your calculations.c. What caused the change in notes payable during 2023?d. Do share dividends affect the statement of cash flows? Explain your answer.CakePops Inc.Comparative Balance Sheet InformationCashAccounts receivable (net)Machinery (net)Franchise (net)Accounts payableNotes payable, long-termCommon sharesRetained earnings**$10 of share dividends were declared and distributed during 2023.Page 1180December 3120232022$ 25$51520300262200655270301609065115

Balance Sheet is a type of financial statement that shows the financial position of the entity. It…

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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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Indicate if the following transactions increase or decrease cash and classify the transactions as Operating, Investing or Financing Activities Enter I For increase and D for decrease. Enter O for Operating, I for Investing, and F for Financing. 1. Pay taxes D O 2. Collect cash from customers I O 3. Issue common stock F 4. Take out a loan from a bank 5. Purchase stock in another company I 6. Sell government debt security 7. Buy a patent 8. Retire a bonds payable 9. Pay dividends 10. Pay insurance 11. Pay interest on a loan 12. Pay principal on a loan 13. Pay salaries 14. Repurchase treasury stock 15. Sell a copyright to another firm 16. Pay suppliers for inventory 17. Dividend payments received from stock investment. 18. Interest payments received from investment in government debt securities.
Evaluating a firm’s financial performance requires multidimensional analysis and cannot be confined to the Accounting information only. Explain with respect to your analysis of the attached financial statements.
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4When a company issues new shares of common stock, which of the following is the correct reporting on the statement of cash flows? A source of cash in the financing section A use of cash in the financing section A source of cash in the investing section A use of cash in the investing section
Consider the financial statements alongside the notes presented by Simple Things Industries and prepare the statement of cash flows for the year ended December 31, 2014. Assets Current: Cash Accounts Receivable Inventory Plant assets, net Total Assets Liabilities Current: Accounts payable Accrued liabilities Long-term notes payable Stockholders' Equity Common S tock Retained earnings Treasury stock Total liabilities and stockholders' equity Revenues and gains: Sales revenue Interest revenue Dividend revenue Gain on sale of plant assets Total revenues and gains Simple Things Industries Ltd. Comparative Balance Sheet December 31, 2014 and 2013 Expenses Cost of goods sold Salary and wages expense Depreciation expense Other operating expense Interest expense Income tax expense Total expenses Net Income/(Loss) Simple Things Industries Ltd Income Statement Year Ended December 31,2014 Notes Acquisition of plant asset during 2014 Sale proceeds from sale of plant asset Receipt for issuance of…
1. What is the firm's cash flow from financing? 2. What is the firm's cash flow from investing? 3. What is the firm's total change in cash from the prior year to the current year?
Financial statements for Rundle Company follow. Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other Total noncurrent liabilities. Total liabilities Stockholders' equity. Preferred stock, (par value $10, 4% cumulative, non-participating; 7,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Revenues Sales (net) Other revenues RUNDLE COMPANY Statements of Income and Retained Earnings For the Years Ended December 31 Total revenues Expenses Cost of goods sold RUNDLE COMPANY Balance Sheets As of December 31 Selling, general, and administrative Interest expense…
The comparative balance sheets for Larkspur Corporation appear below: LARKSPUR CORPORATION Comparative Balance Sheet Cash Accounts receivable (net) Prepaid insurance Land Equipment Accumulated depreciation Liabilities and Stockholder's Equity Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholder's equity Additional information: 1. 2 3. 4. Total assets 5. 6. Cash Flows from Operating Activities Net Income/(Loss) Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Loss on Disposal of Plant Assets Increase in Accounts Receivable Proceeds from the Sale of Land Increase in Accounts Payable LARKSPUR CORPORATION Statement of Cash Flows For the Year Ended December 31, 2022 v Assets v ✓ 2022 ✓ $58,000 85,000 27,800 19,500 70,500 (19,100 ) $241,700 $19,700 Net loss for 2022 is $12,000. Net sales for 2022 are $320,000. Cash dividends of $16.200 were declared and paid in 2022. Land was sold for cash at a…
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Please answer the following questions based on attached image: 1. What is the cash flow from Operating Activities? 2. What is the cash flow from Financing Activities? 3. What is the cash flow from Investing Activities?
The following select information for Sarasota Inc. has been provided for the year ended December 31, 2023: Net Cash provided from Operating Activities Investing Activities: Sale of Long-term investments Purchase of PPE Net Cash Used by Investing Activities Financing Activities: Repayment of Loan Payable Issue of Common Shares Payment of dividends Net Cash Provided by Financing Activities Current Assets Non-Current Assets (net) Current Liabilities Non-Current Liabilities 2023 0.47 O 0.76 O 0.29 $676400 1252600 487300 765700 75900 155000 (26400) 61600 (18600) 2022 $664900 1119100 453700 700850 What is Sarasota's Current Cash Debt Coverage Ratio in 2023? $341000 79100 16600
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