Question
In: Accounting
Complete the model and state the cash balance required to balance the balance sheet in Year...
Complete the model and state the cash balance required to balance the balance sheet in Year 1.
| Assumptions | Year 0 | Year 1 |
| Investments growth | 5.0 | |
| Accounts payable % net income | 50.0% | |
| Long term debt increase (decrease) | 1.0 | |
| Income statement | Year 0 | Year 1 |
| Net income | 12.0 | 14.0 |
| Balance sheet | Year 0 | Year 1 |
| Cash | 12.0 | |
| Investments | 60.0 | |
| Total assets | 72.0 | |
| Accounts payable | 12.0 | |
| Long term debt | 20.0 | |
| Equity | 40.0 | |
| Total liabilities and equity | 72.0 | |
| Check | OK | |
| Cash flow statement | ||
| Net income | ||
| Increase (decrease) in accounts payable | ||
| Cash flow from operations | ||
| (Increase) decrease in investments | ||
| Cash flow from investing activities | ||
| Inc (dec) in long term debt | ||
| Cash flow from financing activities | ||
| Beginning cash | ||
| Net cash flow | ||
| Ending cash | 12 |
Solutions
Expert Solution
By preparing the Cash Flow Statement using the assumptions and other information given, The closing balance of cash as at the end of Year-1 is calculated and the balance sheet is prepared using the same.
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