The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows:Accounts receivable4InventoryPrepaid expensesTotalsAccounts payableSalaries payableInterest payableTotalsDecember 312023$131,00093,10055,200$279,300$ 89,00026,70050,600$166,300Cash flows from operating activities:2022$110,100125,10050,600$285,800$ 68,40038,90041,700$149,000During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on account. Profit for2023 was $257,000.KID-GAME SOFTWARE INC.Statement of Cash FlowsFor Year Ended December 31, 2023Required:1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any deduction in cash andcash outflows as negative amounts.)002₁00Check my work#Next

The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as foll Accounts receivable A Inventory Prepaid expenses Totals Accounts payable Salaries payable Interest payable Totals December 31 2023 $131,000 2022 $110,100 93,100 125,100 55,200 50,600 $279,300 $285,800 $ 89,000 $ 68,400 26,700 38,900 50,600 41,700 $166,300 $149,000 During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on 2023 was $257,000. Cash flows from operating activities: Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any ded cash outflows as negative amounts.) KID-GAME SOFTWARE INC. Statement of Cash Flows For Year Ended December 31, 2023 00 2 00 # Next

The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as foll Accounts receivable A Inventory Prepaid expenses Totals Accounts payable Salaries payable Interest payable Totals December 31 2023 $131,000 2022 $110,100 93,100 125,100 55,200 50,600 $279,300 $285,800 $ 89,000 $ 68,400 26,700 38,900 50,600 41,700 $166,300 $149,000 During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on 2023 was $257,000. Cash flows from operating activities: Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any ded cash outflows as negative amounts.) KID-GAME SOFTWARE INC. Statement of Cash Flows For Year Ended December 31, 2023 00 2 00 # Next

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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Kotin Company has prepared the following financial statements for 2022 and 2021: Kotin Company Balance Sheet As of December 31, 2022 and 2021 Cash Accounts Receivable Inventory Prepaid expenses LT Investments Land Plant assets Accumulated depreciation Accounts payable Wages payable Notes payable Common stock-no par Retained earnings Additional Information: A new note was issued for $18,000. 2022 $ 69,600 19,080 18,800 1,000 15,000 14,000 59,000 (24,600) $171,880 $ 21,600 1,080 26,600 21,600 101,000 $171.880 2021 35,400 16,800 28,800 500 6,000 9,000 46,800 (23,400) $119.900 $ 14,400 1,800 12,800 18,000 72,900 $119.900
Topic: Cash and Cash Equivalents / Intermediate Accounting 1
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Please answer both questions
Net income for the year 2022
a.Prepare the Current Assests section of the balance sheet b. Prepare the Current Liabiloties Section of the Balance sheet
You observe a company with the following items on the balance sheet (in thousands): Cash and equivalents 2018: $22 Cash and equivalents 2017: $23 Inventory 2018: $26 Inventory 2017: $21 Accounts receivable 2018: $144 Accounts receivable 2017: $129 Property, Plant, and Equipment 2018: $1,584 Property, Plant, and Equipment 2017: $1,663 Current Liabilities 2018: $247 Current Liabilities 2017: $291 Long-term debt 2018: $857 Long-term debt 2017: $1,494 What is the change in net working capital for the firm for these years. Answer in thousands (the same as how the numbers are presented).
The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows: December 31 2023 2022 Accounts receivable $ 117,000 $ 92,500 Inventory 83,200 105,000 Prepaid expenses 49,400 42,500 Totals $ 249,600 $ 240,000 Accounts payable $ 75,000 $ 57,500 Salaries payable 22,500 32,500 Interest payable 42,500 35,000 Totals $ 140,000 $ 125,000 During 2023, Kid-game Software Inc. reported depreciation expense of $47,000. All purchases and sales are on account. Profit for 2023 was $243,000. Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any deduction in cash and cash outflows as negative amounts.)
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How do you find the red numbers on the balance sheet and income statement?
Wildhorse Inc, a greeting card company, had the following statements prepared as of December 31, 2020. WILDHORSE INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6.000 $6,900 Accounts receivable 62,500 50,900 Short-term debt investments (available-for-sale) 35,200 17.900 Inventory 40,300 59,500 Prepaid rent 4,900 4,100 Equipment 153,100 129,600 Accumulated depreciation-equipment (35.200 ) 45.600 (24,700 ) Copyrights 50,500 Total assets $312.400 $294,700 Accounts payable $45,500 $40,000 Income taxes payable 4,000 6,100 Salaries and wages payable 8,000 3,900 Short-term loans payable 8,000 9.900 Long-term loans payable 59.400 68.800 Common stock, $10 par 100,000 100,000 Contributed capital, common stock 30,000 30,000 Retained earnings 57,500 36,000 Total liabilities & stockholders' equity $312,400 $294,700 WILDHORSE INC. INCOMESTATEMENT FOR THE YEAR ENDING DECEMBER 31, 2020 Sales revenue $337,300 Cost of goods sold 174,000 Gross profit 163,300…