FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Please complete the statement of cashflows as required below: A comparative balance sheet and an income statement for Burgess Company are given below: Burgess CompanyComparative Balance Sheet(dollars in millions) Ending Balance Beginning Balance Assets Current assets: Cash and cash equivalents $ 44 $ 91 Accounts receivable 690 633 Inventory 675 630 Total current assets 1,409 1,354 Property, plant, and equipment 1,555 1,529 Less accumulated depreciation 800 666 Net property,plant, and equipment 755 863 Total assets $ 2,164 $ 2,217 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 270 $ 165 Accrued liabilities 185 165 Income taxes payable 87 77 Total current liabilities 542 407 Bonds payable 440 650 Total liabilities 982 1,057 Stockholders' equity: Common stock 170 170 Retained earnings 1,012 990 Total stockholders' equity 1,182 1,160 Total liabilities and stockholders' equity $…arrow_forwardCalculate cash balances based on the information provided in the chart below and show me how you did it Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985 Additional Cash Spent Sales Tax,…arrow_forwardThe following information is available from the current period financial statements: Net income $133,833 Depreciation expense 22,491 Increase in accounts receivable 17,461 Decrease in accounts payable 28,059 The net cash flow from operating activities using the indirect method is:arrow_forward
- Sub : Accounting Pls answer ASAP. DONT CHATGPT.pls type the answer. i ll upvote . Thank Youarrow_forwardHighlight the Net cash provided by Operating Activities for the Statement of Cash Flows Highlight the Net cash provided by Financing Activities for the Statement of Cash Flows Highlight the net change in cash for the period on the Statement of Cash Flowsarrow_forwardCurrent Attempt in Progress Lee Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5180000 $3979520. $5180000. $6380480. $5706480. 704480 159000 337000 Lee should report cash provided by operating activities ofarrow_forward
- The following information is available from the current period financial statements: Net income $116,986 Depreciation expense 23,264 Increase in accounts receivable 14,950 Decrease in accounts payable 15,020 The net cash flow from operating activities using the indirect method isarrow_forwardplease answer. thanksarrow_forwardI need some assistance in Preparing the operating activities section of the statement of cash flows using the direct method. See attached images for the inputs. I have been getting "bounced" on the yellow sections for incorrect valuesarrow_forward
- 26arrow_forwardDetermining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income $384,200 Depreciation expense 71,300 Loss on disposal of equipment 26,300 Increase in accounts receivable 13,900 Increase in accounts payable 10,700 Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Yeoman Inc.Statement of Cash Flows (partial) Cash flows from (used for) operating activities: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: - Select - - Select - Changes in current operating assets and liabilities: - Select - - Select - Net cash flows from operating activities $fill in the blank 11arrow_forward125. accountigarrow_forward
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