The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,420,000, $144,000 in thecommon stock account, and $2,690,000 in the additional paid-in surplus account. The December 31, 2022, balancesheet showed long-term debt of $1,620,000, $154,000 in the common stock account and $2,990,000 in the additionalpaid-in surplus account. The 2022 income statement showed an interest expense of $96,000 and the company paidout $149,000 in cash dividends during 2022. The firm's net capital spending for 2022 was $1,000,000, and the firmreduced its net working capital investment by $129,000. What was the firm's 2022 operating cash flow, or OCF?Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and roundyour answer to the nearest whole number, e.g., 32.Operating cash flow$556,500

OCF is One of the most important financial metrics, This shows the amount of money earned or spent…

Answered: The December 31, 2021, balance sheet of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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At the financial statement date of December 31, 2020, the liabilities outstanding of Chizkeyk Co. included the following:1. Cash dividends on ordinary shares, P60,000, payable on January 15, 2021.2. Note payable to China Bank, P470,000, due January 20, 2021.3. Serial bonds, P1,000,000, of which P250,000 mature during 2021.4. Note payable to Eastwest Bank, P300,000, due January 27, 2022. In addition to the transactions above, the following activities occurred early in 2021: January 25: The company entered into a financing agreement with China Bank, enabling it to borrow up to P500,000 at any time through the end of 2023. Amounts borrowed under the agreement would bear interest at 1% above the bank's prime rate and would mature 3 years from the date of the loan. The company immediately borrowed P400,000 to replace the cash used in paying its January 20 note to the bank. February 1: The financial statements for 2020 were issued. 1. Compute for the total current liabilities 2. Compute for…
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,400,000, $140,000 in the common stock account and $2,650,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,580,000, $150,000 in the common stock account and $2,950,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $94,000 and the company paid out $145,000 in cash dividends during 2014. The firm's net capital spending for 2014 was $960,000, and the firm reduced its net working capital investment by $125,000. What was the firm's operating cash flow during 2014?
Bingo Corporation’s board of directors declared a P950,000 cash dividend on March 1, 2018, payable on June 1, to shareholders of record on March 15. Prepare all appropriate entries needed on the declaration, record, and payment dates.
The December 31, 2021, balance sheet of Chen, Incorporated, showed long-term debt of $1,425,000, $145,000 in the common stock account, and $2,700,000 in the additional paid-in surplus account. The December 31, 2022, balance sheet showed long-term debt of $1,630,000, $155,000 in the common stock account and $3,000,000 in the additional paid-in surplus account. The 2022 income statement showed an interest expense of $96,500 and the company paid out $150,000 in cash dividends during 2022. The firm's net capital spending for 2022 was $1,010,000, and the firm reduced its net working capital investment by $130,000. What was the firm's 2022 operating cash flow, or OCF? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Please answer in good accounting form. Thankyou What is the retained earnings balance ending December 31, 2021?
Detroit Inc reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,500 Common stock 3,400 Paid-in capital—share repurchase 1,900 Treasury stock (at cost) 220 Paid-in capital—excess of par 30,300 During 2022 ($ in thousands), net income was $9,100; 25% of the treasury stock was resold for $510; cash dividends declared were $700; cash dividends paid were $450. What ($ in thousands) was shareholders' equity as of December 31, 2022?
Loxery Ltd initially issued 300,000 of OMR1 par value common stock for OMR 1,000,000 in 2017. In 2018, the company repurchased 30,000 shares for OMR 120,000. In 2019, 10,000 of the repurchased shares were resold for OMR50,000. In its statement of financial position dated December 31, 2019, Loxery 's treasury stock account shows a balance of: Select one: a. OMR 60,000 b. OMR 70,000 c. OMR 80,000 d. OMR 50,000
The JHONG Corporation had the following balances in its Shareholders' Equity accounts as of December 31, 2019: Ordinary Share Capital, P10, par, 20,000 shares issued P200,000; Additional Paid In Capital P80,000; Retained Earnings P100,000; Treasury Shares at cost (2,000 shares) P24,000. The following shareholders' equity transactions took place in 2020 and 2021: 1. Dividends declared in 2020 were P22,000 and in 2021 were P 35,000. 2. Sold 1,000 Treasury shares at P15 per share in 2020 and 600 shares at P28 per share in 2021. 3. Issued an additional 1,500 new shares at P18 per share in 2021. 4. Net profit for 2020 was P80,000 and for 2021 was P98,000. How much is the balance of the Treasury Shares account as of December 31, 2021? *
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Sunland Rental Corporation had the following balances in its shareholders' equity accounts at January 1, 2021: Accumulated other comprehensive income (loss) Contributed surplus-reacquisition of common shares Retained earnings Common shares (25,000 shares) Feb. 2 Sunland had the following transactions and events during 2021: Apr. 17 Oct. 29 $ (26,000) Dec. 31 559,000 1,600,000 625.000 Repurchased 1.200 shares for $57,600. Declared and paid cash dividends of $71,000. Issued 1,900 shares for $106,000 cash. Reported comprehensive income of $415,000, which included other comprehensive income of $31.000.
Fall Corporation's capital structure consists of 500,000 authorized shares of common stock, of which 100,000 have been issued and are still outstanding. At December 31, 2022, an analysis of the accounts and discussions with company officials revealed the following information: Accounts payable...... Accounts receivable (trade accounts). Accumulated depreciation..... Accumulated other comprehensive income. Allowance for uncollectible accounts. Amortization expense.. Cash....... Common stock ($1 par value) Cost of goods sold Deferred revenue.. Depreciation expense. Dividend revenue.. Fair value adjustment (trading securities - debit balance). Gain on investments (Unrealized, NI).... General and administrative expenses. Interest expense... Interest payable..... Inventory, December 31, 2022. Investments in trading securities (cost)... Land held for future plant site.... 4% Notes payable (maturity 7/1/26 - $40,000 due July 1, 2023)... Paid in capital in excess of par.. Patents...... Pension…
The following activities relate to Merrill Company during the years 2018 and 2019: 2018: Feb. 15 Merrill purchased 10,000 shares of Hendershot Equipment stock for $40 per share. Dec. 1 Merrill received an $0.80-per-share cash dividend from Hendershot Equipment. Dec. 31 Hendershot Equipment common stock had a closing market price of $97 per share. Hendershot’s 2018 net income was $120,000. 2019: July 1 Merrill sold all 10,000 shares of Hendershot Equipment stock for $42 per share. Additional information: Hendershot Equipment had 50,000 shares of common stock outstanding on January 1, 2018. Required: Prepare journal entries to record the transactions assuming: a.) The securities are classified as FVTOCI financial assets-equity. b.)The equity method is used. Show the amounts that would be reported on the financial statements of Merrill Company at December 31, 2018, under each assumption. Can Merrill use the equity method to account for its investment in Hendershot Equipment?

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