Question

In: Finance

Item Prior year Current year Accounts payable 8,182.00 7,934.00 Accounts receivable 6,069.00 6,515.00 Accruals 1,006.00 1,348.00...

Item Prior year Current year
Accounts payable 8,182.00 7,934.00
Accounts receivable 6,069.00 6,515.00
Accruals 1,006.00 1,348.00
Cash ??? ???
Common Stock 11,399.00 11,474.00
COGS 12,747.00 18,143.00
Current portion long-term debt 4,958.00 4,954.00
Depreciation expense 2,500 2,830.00
Interest expense 733 417
Inventories 4,233.00 4,808.00
Long-term debt 14,999.00 13,878.00
Net fixed assets 50,074.00 54,846.00
Notes payable 4,341.00 9,877.00
Operating expenses (excl. depr.) 13,977 18,172
Retained earnings 28,378.00 29,936.00
Sales 35,119 47,697.00
Taxes 2,084 2,775

What is the firm's total change in cash from the prior year to the current year?

Solutions

Expert Solution

Ans: Let cash for prior year and current year be Y and Z

Prior year Current year
Particulars Debit Credit Debit Credit
Accounts payable 8182 7934
Accounts receivable 6069 6515
Accruals 1006 1348
Cash Y Z
Common stock 11399 11474
COGS 12747 18143
current portion long term debt 4958 4954
Depreciation expenses 2500 2830
Interest expenses 733 417
Inventories 4233 4808
Long term debt 14999 13878
Net Fixed assets 50074 54846
Notes payable 4341 9877
Operating expenses (excluding depreciation) 13977 18172
Retained earnings 28378 29936
Sales 35119 47697
Taxes 2084 2775
Total 92417+Y 108382 108506+Z 127098

Cash for prior year (Y) = $ 108,382 - $ 92417

= $ 15,965

cash for current year (Z) = $ 127,098 - $ 108,506

= $ 18,592

Change in cash from prior year to current year = $ 15,965 - $ 18,592

= $ - 2627

jeff jeffy answered 1 year ago
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