Question

In: Accounting

Category Prior Year Current Year Accounts payable 3,183.00 5,905.00 Accounts receivable 6,928.00 9,015.00 Accruals 5,668.00 6,088.00...

Category Prior Year Current Year
Accounts payable 3,183.00 5,905.00
Accounts receivable 6,928.00 9,015.00
Accruals 5,668.00 6,088.00
Additional paid in capital 19,527.00 13,729.00
Cash ??? ???
Common Stock 2,850 2,850
COGS 22,853.00 18,239.00
Current portion long-term debt 500 500
Depreciation expense 951.00 1,039.00
Interest expense 1,281.00 1,153.00
Inventories 3,078.00 6,718.00
Long-term debt 16,682.00 22,603.00
Net fixed assets 75,744.00 74,220.00
Notes payable 4,015.00 6,579.00
Operating expenses (excl. depr.) 19,950 20,000
Retained earnings 35,085.00 34,335.00
Sales 46,360 45,232.00
Taxes 350 920

What is the firm's total change in cash from the prior year to the current year? (Round to 0 decimal places).

Solutions

Expert Solution

First we have to calculate Dividends paid:

Sales $   45,232
Less: Expenses
Taxes $      (920)
Operatng expenses $ (20,000)
Interest expenses $   (1,153)
Depreciation expenses $   (1,039)
COGS $ (18,239)
Total expenses $ (41,351)
Net income $     3,881
Add: Retained earnings previous years $   35,085
Less: Retained earnings current years $ (34,335)
Dividends paid $     4,631
Cash received from customers (45232+6928-9015) $   43,145
Cash paid to suppliers (18239+3183-5905+6718-3078) $ (19,157)
Cash paid for operating expenses (20000+5668-6088) $ (19,580)
Cash paid for interest expense      $   (1,153)
Cash paid for income tax expense $      (920)
Cash flow from operations $   2,335
Cash receievd from sale of fixed assets (75744-74220-1039) $        485
Net cash provided by investing activities $      485
Repayment of additional capital (13729-19527) $   (5,798)
Cash received from long term debt (22603-16682) $     5,921
Cash received from by issue of Notes (6579-4015) $     2,564
Cash paid for dividends (WN 1) $   (4,631)
Net cash used by financing activities $ (1,944)
Change in cash ($2,335+$485-$1,944) $      876

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ekkarill92 answered 2 years ago
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