FINANCIAL ACCOUNTINGLL W/CONNECT >IC<
4th Edition
ISBN: 9781259934773
Author: SPICELAND
Publisher: MCG
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Chapter 1, Problem 1.9E
Tiger Trade has the following cash transactions for the period.
| Accounts | Amounts |
| Cash received from sale of products to customers | $ 40,000 |
| Cash received from the bank for long-term loan | 45,000 |
| Cash paid to purchase factory equipment | (50,000) |
| Cash paid to merchandise suppliers | (12,000) |
| Cash received from the sale of an unused warehouse | 13,000 |
| Cash paid to workers | (24,000) |
| Cash paid for advertisement | (4,000) |
| Cash received for sale of services to customers | 30,000 |
| Cash paid for dividends to stockholders | (6,000) |
Required:
1. Calculate the ending balance of cash, assuming the balance of cash at the beginning of the period is $5,000.
2. Prepare a statement of
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Tiger Trade has the following cash transactions for the period. Accounts AmountsCash received from sale of products to customers $ 40,000Cash received from the bank for long-term loan 45,000Cash paid to purchase factory equipment (50,000)Cash paid to merchandise suppliers (12,000)Cash received from the sale of an unused warehouse 13,000Cash paid to workers (24,000)Cash paid for advertisement (4,000)Cash received for sale of services to customers 30,000Cash paid for dividends to stockholders (6,000)Required: 1. Calculate the ending balance of…
Tiger Trade has the following cash transactions for the period.
Accounts
Amounts
Cash received from sale of products to customers
$
36,000
Cash received from the bank for long-term loan
41,000
Cash paid to purchase factory equipment
(46,000
)
Cash paid to merchandise suppliers
(11,200
)
Cash received from the sale of an unused warehouse
12,200
Cash paid to workers
(23,200
)
Cash paid for advertisement
(3,200
)
Cash received for sale of services to customers
26,000
Cash paid for dividends to stockholders
(5,200
)
Assume the balance of cash at the beginning of the period is $4,200.
Required:
1. Calculate the ending balance of cash.
Ending Balance: _____________________
2. Prepare a statement of cash flows. (Cash outflows should be indicated by a minus sign.)
Garcia Trade has the following cash transactions for the period.
Accounts
Amounts
Cash received from sale of products to customers
$31,000
Cash received from the bank for long-term loan
36,000
Cash paid to purchase factory equipment
(41,000)
Cash paid to merchandise suppliers
(10,200)
Cash received from the sale of an unused warehouse
11,200
Cash paid to workers
(22,200)
Cash paid for advertisement
(2,200)
Cash received for sale of services to customers
21,000
Cash paid for dividends to stockholders
(4,200)
Assume the balance of cash at the beginning of the period is $3,200.
Required:
1. Calculate the ending balance of cash.2. Prepare a statement of cash flows.
Chapter 1 Solutions
FINANCIAL ACCOUNTINGLL W/CONNECT >IC<
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Ch. 1 - Prob. 11RQCh. 1 - What are the four primary financial statements?...Ch. 1 - What does it mean to say that the income...Ch. 1 - Prob. 14RQCh. 1 - What is the accounting equation? Which financial...Ch. 1 - Prob. 16RQCh. 1 - The retained earnings account is a link between...Ch. 1 - Prob. 18RQCh. 1 - Prob. 19RQCh. 1 - Prob. 20RQCh. 1 - Prob. 21RQCh. 1 - Prob. 22RQCh. 1 - Prob. 23RQCh. 1 - Prob. 24RQCh. 1 - Prob. 25RQCh. 1 - What are the three primary objectives of financial...Ch. 1 - Prob. 27RQCh. 1 - Prob. 28RQCh. 1 - Prob. 29RQCh. 1 - What is meant by the term cost effectiveness in...Ch. 1 - Prob. 31RQCh. 1 - Prob. 1.1BECh. 1 - Match each business activity with its description....Ch. 1 - Prob. 1.3BECh. 1 - Match each account type with its description....Ch. 1 - For each transaction, indicate whether each...Ch. 1 - For each transaction, indicate whether each...Ch. 1 - Describe each financial statement (LO13) Match...Ch. 1 - Determine the location of items in financial...Ch. 1 - Prob. 1.9BECh. 1 - Indicate which of the following are objectives of...Ch. 1 - Prob. 1.11BECh. 1 - Prob. 1.12BECh. 1 - Prob. 1.13BECh. 1 - The following provides a list of transactions and...Ch. 1 - Falcon Incorporated has the following transactions...Ch. 1 - Prob. 1.3ECh. 1 - Eagle Corp. operates magnetic resonance imaging...Ch. 1 - Prob. 1.5ECh. 1 - Below are the account balances for Cowboy Law Firm...Ch. 1 - At the beginning of the year (January 1), Buffalo...Ch. 1 - Wolfpack Construction has the following account...Ch. 1 - Tiger Trade has the following cash transactions...Ch. 1 - Prob. 1.10ECh. 1 - At the beginning of 2018, Artichoke Academy...Ch. 1 - Squirrel Tree Services reports the following...Ch. 1 - Prob. 1.13ECh. 1 - During its first five years of operations, Red...Ch. 1 - Below are approximate amounts related to retained...Ch. 1 - Below are approximate amounts related to balance...Ch. 1 - Below are approximate amounts related to cash flow...Ch. 1 - Prob. 1.18ECh. 1 - Prob. 1.19ECh. 1 - Prob. 1.20ECh. 1 - A Below are typical transactions for...Ch. 1 - Account classifications include assets,...Ch. 1 - Longhorn Corporation provides low-cost food...Ch. 1 - Below are-incomplete financial statements for...Ch. 1 - Cornhusker Company provides the following...Ch. 1 - Prob. 1.6APCh. 1 - Listed below are nine terms and definitions...Ch. 1 - Below are typical transactions for Caterpillar...Ch. 1 - Prob. 1.2BPCh. 1 - Prob. 1.3BPCh. 1 - Prob. 1.4BPCh. 1 - Tar Heel Corporation provides the following...Ch. 1 - Prob. 1.6BPCh. 1 - Prob. 1.7BPCh. 1 - Great Adventures (The Great Adventures problem...Ch. 1 - Financial Analysis American Eagle Outfitters, Inc....Ch. 1 - The Buckle, Inc. Financial Analysis Financial...Ch. 1 - Prob. 1.4APCACh. 1 - Prob. 1.5APECh. 1 - Prob. 1.7APWC
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