Question
In: Accounting
Below is the related information: Net income $200,000 Increase in unearned revenue 12,000 Proceeds from issuance...
|
Below is the related information: Net income |
$200,000 |
|
Increase in unearned revenue |
12,000 |
|
Proceeds from issuance of common stock |
103,000 |
|
Increase in prepaid expense |
27,000 |
|
Sale of building at a $15,000 gain, cash proceed: |
80,000 |
|
Increase in accounts payable |
15,000 |
|
Purchase of equipment |
100,000 |
|
Payment of cash dividends |
24,000 |
|
Depreciation expense |
55,000 |
|
Decrease in accounts receivable |
23,000 |
|
Payment of long-term bonds |
75,000 |
|
Increase in short-term notes payable |
8,000 |
|
Sale of land at a $5,000 loss, cash proceed: |
40,000 |
|
Purchase of delivery van |
33,000 |
|
Cash at beginning of year |
205,000 |
Prepare the statement of cash flow.
Solutions
ekkarill92 answered 3 years agoRelated Solutions
QUESTION 32 Cash increase due to the proceeds from the bond issuance would be found in...
QUESTION 32
Cash increase due to the proceeds from the bond issuance would
be found in which section of the statement of cash flows?
The accrual activities section
The operating activities section
The investing activities section
The financing activities section
QUESTION 33
Which of the following would most likely be classified as a
profit center?
The automotive division of a large, decentralized
corporation
The Mt Pleasant branch of the Kohl's department store chain
The Parks and Resorts business segment of...
The information related to interest expense of classic music, inc. is given below: Net Income
The information related to interest expense of classic music,
inc. is given below:
Net
Income $265,000
Income tax
expense 105,000
Interest
expense 66,000
Based on the above data, which of the following is the times-
interest- earned ratio? (round the final answer to two decimal
places)
A)6.61 times
B)4.15 times
C)5.02 times
D)4.02 times
A contingency was evaluated at year- end and considered to have
a reasonable possibility of becoming an actual liability. Reported
in the notes to the financial statements, what is...
Identify the $ value impact from the errors below on ending inventory, revenue, net income and...
Identify the $ value impact from the errors below on
ending inventory, revenue, net income and ending retained earnings
in the current year. Identify if the errors are an overstatement or
an understatement. Each scenario is an independent case, the year
end is December 31.
$1,500 of goods held on consignment were included in
the inventory count and recorded in the purchases
account.
Merchandise received during the year costing $4,600
was missed in the inventory count and therefore not included...
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr Company.
1.
Net Income [including a discontinued operations
gain (net of tax) of $117,000]
$325,500
2.
Capital Structure
a.
Cumulative 5% preferred stock, $100 par, 6,300 shares issued
and outstanding
$630,000
b.
$10 par common stock, 74,000 shares outstanding on January 1.
On April 1, 40,000 shares were issued for cash. On October 1,
16,000 shares were purchased and retired.
$1,000,000
c.
On January 2 of the current year, Starr purchased Oslo
Corporation....
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr
Company.
1.
Net Income [including a discontinued operations
gain (net of tax) of $66,000]
$221,000
2.
Capital Structure
a.
Cumulative 5% preferred stock, $100 par, 5,800 shares issued
and outstanding
$580,000
b.
$10 par common stock, 74,000 shares outstanding on January 1.
On April 1, 40,000 shares were issued for cash. On October 1,
16,000 shares were purchased and retired.
$1,000,000
c.
On January 2 of the current year, Starr purchased Oslo
Corporation....
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr
Company.
1.
Net Income [including a discontinued operations
gain (net of tax) of $112,000]
$318,500
2.
Capital Structure
a.
Cumulative 5% preferred stock, $100 par, 6,100 shares issued
and outstanding
$610,000
b.
$10 par common stock, 74,000 shares outstanding on January 1.
On April 1, 40,000 shares were issued for cash. On October 1,
16,000 shares were purchased and retired.
$1,000,000
c.
On January 2 of the current year, Starr purchased Oslo
Corporation....
Presented below is information related to Starr Company. 1. Net Income [including a discontinued operations gain...
Presented below is information related to Starr Company.
1.
Net Income [including a discontinued operations
gain (net of tax) of $84,000]
$258,500
2.
Capital Structure
a.
Cumulative 5% preferred stock, $100 par, 6,100 shares issued
and outstanding
$610,000
b.
$10 par common stock, 74,000 shares outstanding on January 1.
On April 1, 40,000 shares were issued for cash. On October 1,
16,000 shares were purchased and retired.
$1,000,000
c.
On January 2 of the current year, Starr purchased Oslo
Corporation....
Consider the following: Net income, $285,000 Depreciation Expense $33,000 Increase in accounts receivable, $12,000 Decrease in...
Consider the following: Net income, $285,000 Depreciation
Expense $33,000 Increase in accounts receivable, $12,000 Decrease
in merchandise inventory, $60,000 Decrease in accounts payable,
$24,000 Increase in income taxes payable, $9,000 Using the Indirect
Method, the Net Cash provided by Operating Activities was: Group of
answer choices $351,000 $303,000 $318,000 $270,000
O'MALLEY CORPORATION INCOME STATEMENT Sales revenue $850,000 Dividends 32,300 Gain on recovery of insurance proceeds from...
O'MALLEY CORPORATION
INCOME STATEMENT
Sales revenue
$850,000
Dividends
32,300
Gain on recovery of insurance proceeds from earthquake loss
38,500
920,800
Less:
Selling expenses
$101,100
Cost of goods sold
510,000
Advertising expense
13,700
Loss on obsolescence of inventories
34,000
Loss on discontinued operations
48,600
Administrative expense
73,400
780,800
Income before income tax
140,000
Income tax
56,000
Net income
$84,000
CA 4-2, p. 190
Instructions
Indicate the deficiencies in the income statement presented
above. Assume that the corporation desires a single-step income...
The following information is related to Tobey Corporation for 2020: Net Income: $2,500,000 Common...
The following information is related to Tobey Corporation for
2020:
Net Income: $2,500,000
Common Stock Activities
1/1/20: 700,000 common shares outstanding
3/1/20: Purchased 60,000 treasury shares
7/1/20: 3-for-1 stock split
11/1/20: 120,000 new shares issued for cash
8% Cumulative Preferred Stock
10,000 shares at $100 par
Required
a. Compute weighted average common shares outstanding (WACSO) for
2020.
b. Compute basic earnings per share for 2020. (Round to no fewer
than four decimal places.)
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