Accounting: What the Numbers Mean
11th Edition
ISBN: 9781259535314
Author: David Marshall, Wayne William McManus, Daniel Viele
Publisher: McGraw-Hill Education
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Chapter 9, Problem 9.28P
Problem 9.28
LO 10. 11
Complete
| HARTFORD, INC. |
Statement of Cash Flows
For the Year Ended December 31, 2017
30,000
Required:
- Complete the December 31, 2017 and 2016 balance sheets.
- Prepare a statement of changes in retained earnings for the year ended December 31, 2017.
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Problem 9-28 (Algo) Complete balance sheet and prepare a statement of changes in retained earnings LO 10, 11
Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended December 31, 2020. Also shown is a partially completed comparative balance sheet as of December 31, 2020 and 2019:
HARTFORD INC.
Statement of Cash Flows
For the year Ended December 31, 2020
Cash Flows from Operating Activities:
Net income
$
13,500
Add (deduct) items not affecting cash:
Depreciation expense
67,500
Decrease in accounts receivable
34,500
Increase in Inventory
(10,500
)
Increase in notes payable
18,000
Decrease in accounts payable
(9,000
)
Net cash provided by operating activities
$
114,000
Cash Flows from Investing Activities:
Purchase of equipment
$
(75,000
)
Purchase of buildings
(72,000
)
Net cash used by investing activities
$
(147,000
)
Cash Flows from Financing Activities:
Proceeds…
GIVE THE COMPARATIVE BALANCE SHEET HORIZONTAL AND VERTICAL ANALYSIS FROM THE GIVEN BALANCE SHEET BELOW
JOLLIBEE BALANCE SHEET
ASSETS
ITEM
2016
2017
2018
2019
2020
Cash & Short Term Investments
17.46B
22.52B
24.17B
23.02B
57.46B
Cash & Short Term Investments Growth
-
28.99%
7.32%
-4.75%
149.59%
Cash Only
16.73B
21.11B
23.29B
20.89B
21.36B
Short-Term Investments
726M
1.41B
883.2M
2.13B
36.1B
Cash & ST Investments / Total Assets
23.96%
25.08%
16.06%
12.28%
27.26%
Total Accounts Receivable
3.59B
4.02B
4.86B
5.91B
7.05B
Total Accounts Receivable Growth
-
11.86%
21.04%
21.46%
19.36%
Accounts Receivables, Net
3.03B
3.39B
4.41B
5.37B
5.8B
Accounts Receivables, Gross
3.61B
4.08B
5.09B
5.76B
6.46B
Bad Debt/Doubtful Accounts
(579.79M)
(690.12M)
(676.91M)
(392.36M)
(658.63M)
Other Receivable
562.75M
630.06M
451.73M…
REQUIRED
Study the statement of cash flows of Mantis Limited for the year ended 31 December 2021 and answer the following questions:
Comment on the following:
1.3.1
Cash flows from operating activities (R181 800)
1.3.2. Increase in inventory (R808 000)
1.3.3 Increase in receivables (R606 000)
1.3.4 Interest paid (R80 800)
1.3.5 Cash flows from investing activities (R2 343 200)
INFORMATION
MANTIS LIMITED
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021
R
Cash flows from operating activities
(181 800)
Operating profit
979 700
Depreciation
?
Profit before working capital changes
?
Working capital changes
(808 000)
Increase in inventory
(808 000)
Increase in receivables
(606 000)
Increase in payables
606 000
Cash generated from operations
494 900
Interest paid
(80 800)
Dividends paid
?
Income tax paid
(272 700)
Cash flows from investing activities
(2…
Chapter 9 Solutions
Accounting: What the Numbers Mean
Ch. 9 - Prob. 9.1MECh. 9 - Mini-Exercise 9.2 LO 5 Calculate operating income...Ch. 9 - Mini-Exercise 9.3 LO 6 Calculate basic EPS Net...Ch. 9 - Mini-Exercise 9.4
LO 10
Calculate cash flows from...Ch. 9 - Exercise 9.5
LO 1
Calculate earned revenues Big...Ch. 9 - Exercise 9.6 LO 1 Calculate earned revenues...Ch. 9 - Exercise 9.7 LO 2 Effects of inventory error If...Ch. 9 - Exercise 9.8 LO 2 Effects of inventory error...Ch. 9 - Prob. 9.9ECh. 9 - Prob. 9.10E
Ch. 9 - Exercise 9.11 LO 5 Operating income versus net...Ch. 9 - Prob. 9.12ECh. 9 - Prob. 9.13ECh. 9 - Prob. 9.14ECh. 9 - Prob. 9.15ECh. 9 - Prob. 9.16ECh. 9 - Prob. 9.17ECh. 9 - Prob. 9.18ECh. 9 - Problem 9.19 LO 5 Calculate operating income and...Ch. 9 - Prob. 9.20PCh. 9 - Problem 9.21
LO 3
Use gross profit ratio to...Ch. 9 - Prob. 9.22PCh. 9 - Prob. 9.23PCh. 9 - Problem 9.24
LO 10
Prepare a statement of cash...Ch. 9 - Problem 9.25
LO 10
Cash flows from operating,...Ch. 9 - Prob. 9.26PCh. 9 - Prob. 9.27PCh. 9 - Problem 9.28 LO 10. 11 Complete balance sheet and...Ch. 9 - Prob. 9.29PCh. 9 - Prob. 9.30PCh. 9 - Prob. 9.31CCh. 9 - Prob. 9.32CCh. 9 - Prob. 9.33C
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