Question

In: Accounting

Cash and cash equivalents balance, December 31, 2014 $ 38,000 Cash and cash equivalents balance, December...

Cash and cash equivalents balance, December 31, 2014 $ 38,000 Cash and cash equivalents balance, December 31, 2015 106,856 Cash received as interest 3,800 Cash paid for salaries 110,200 Bonds payable retired by issuing common stock (no gain or loss on retirement) 170,000 Cash paid to retire long-term notes payable 190,000 Cash received from sale of equipment 93,100 Cash received in exchange for six-month note payable 38,000 Land purchased by issuing long-term note payable 98,600 Cash paid for store equipment 36,100 Cash dividends paid 22,800 Cash paid for other expenses 60,800 Cash received from customers 737,200 Cash paid for inventory 383,344 Use the above information about the cash flows of Ferron Company to prepare a complete statement of cash flows (direct method) for the year ended December 31, 2015. Use a note disclosure for any noncash investing and financing activities. (Amounts to be deducted should be indicated with a minus sign.)

Solutions

Expert Solution

ferron company

statement of cash flows

for the year end of december 31 , 2015

particulars amount amount
CASH FLOWS FROM OPERATING ACTIVITES
receipts from customers 737200
payments for merchandise - 383344
payments for other expense - 60800
payment for salaries - 110200
receipt of interest 3800
NET CASH PROVIDED BY OPERATING ACTIVITIES 186656
CASH FLOWS FROM INVESTING ACTIVITES
receipts from sale of equipments 93100
payment for store equipments - 36100
NET CASH PROVIDED BY INVESTING ACTIVITIES 57000
CASH FLOWS FROM FINANCING ACTIVITIES
payment to retire long terms notes payable -190000
dividend payment -22800
receipts from exchange of six month notes payable 38000
NET CASH PROVIDED BY FINANCING ACTIVITIES - 174800
net cash flow from activities 68856
add; opening balance of cash & cash equivalents 38000
ENDING BALANCE OF CASH AND CASH EQUIVALENT 30856

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

Devin E Corporation Balance Sheet As of December 31, 2015 2014 Assets: Cash & Cash Equivalents...
Devin E Corporation Balance Sheet As of December 31, 2015 2014 Assets: Cash & Cash Equivalents $41,900 $25,000 Accounts Receivable 24,000 6,250 Inventory 30,000 36,000      Current Assets 95,900 67,250 Land 25,000 10,000 Equipment 42,000 38,500 Less: Accumulated Depreciation (14,000) (7,000) 53,000 41,500 Total Assets 148,900 108,750 Liabilities: Accounts Payable 17,500 22,500 Accrued Salaries Payable 5,500 8,000 Rent Expense Payable 2,200 1,000 Income Tax Payable 6,900 4,000 Current Liabilities 32,100 35,500 Long-term notes payable 50,000 30,000 Total Liabilities 82,100 65,500...
PHAROAH COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets    Cash and cash equivalents...
PHAROAH COMPANY Balance Sheets December 31 (in thousands) 2022 2021 Current assets    Cash and cash equivalents $330 $360    Accounts receivable (net) 570 500    Inventory 640 570    Prepaid expenses 130 160      Total current assets 1,670 1,590 Property, plant, and equipment (net) 410 380 Investments 110 110 Intangibles and other assets 530 510      Total assets $2,720 $2,590 Current liabilities $920 $890 Long-term liabilities 660 560 Stockholders’ equity—common 1,140 1,140      Total liabilities and stockholders’ equity $2,720 $2,590 PHAROAH COMPANY Income Statements For the...
Dec. 31, 2015 Dec. 31, 2014 Assets Cash and cash equivalents 129,852 593,175 Accounts receivable, net...
Dec. 31, 2015 Dec. 31, 2014 Assets Cash and cash equivalents 129,852 593,175 Accounts receivable, net 433,638 279,835 Inventories 783,031 536,714 Prepaid expenses and other current assets 152,242 87,177 Deferred income taxes 52,498 Total current assets 1,498,763 1,549,399 Property and equipment, net 538,531 305,564 Goodwill 585,181 123,256 Intangible assets, net 75,686 26,230 Deferred income taxes 92,157 33,570 Other long-term assets 78,582 57,064 Total assets 2,868,900 2,095,083 Liabilities and Stockholders Equity Accounts payable 200,460 210,432 Accrued expenses 192,935 147,681 Current maturities...
Dec. 31, 2015 Dec. 31, 2014 Assets Cash and cash equivalents 129,852 593,175 Accounts receivable, net...
Dec. 31, 2015 Dec. 31, 2014 Assets Cash and cash equivalents 129,852 593,175 Accounts receivable, net 433,638 279,835 Inventories 783,031 536,714 Prepaid expenses and other current assets 152,242 87,177 Deferred income taxes 52,498 Total current assets 1,498,763 1,549,399 Property and equipment, net 538,531 305,564 Goodwill 585,181 123,256 Intangible assets, net 75,686 26,230 Deferred income taxes 92,157 33,570 Other long-term assets 78,582 57,064 Total assets 2,868,900 2,095,083 Liabilities and Stockholders Equity Accounts payable 200,460 210,432 Accrued expenses 192,935 147,681 Current maturities...
Cash and cash equivalents, Dec. 31 prior year-end $ 45,000 Cash and cash equivalents, Dec. 31...
Cash and cash equivalents, Dec. 31 prior year-end $ 45,000 Cash and cash equivalents, Dec. 31 current year-end 126,540 Cash received as interest 4,500 Cash paid for salaries 130,500 Bonds payable retired by issuing common stock (no gain or loss on retirement) 140,000 Cash paid to retire long-term notes payable 225,000 Cash received from sale of equipment 110,250 Cash received in exchange for six-month note payable 45,000 Land purchased by issuing long-term note payable 81,200 Cash paid for store equipment...
Consider the following information: Cash and cash equivalents at 31 December 2010 = $1.50 million Cash...
Consider the following information: Cash and cash equivalents at 31 December 2010 = $1.50 million Cash and cash equivalents at 31 December 2011 = $1.85 million Interest expense = $0.48 million Net borrowings = $0.25 million Cash dividends = $1.25 million Given a tax rate of 40%, the firm's FCFF at the end of 2011 is closest to: Select one: a. $1,830,000 b. $1,638,000 c. $388,000 Question 13 Question text Assuming a tax rate of 40%, a $100 increase in...
Boatwig, Corp. Balance Sheet December 31, 2013 and December 31, 2014 2013 Dr. Cr. 2014 Assets...
Boatwig, Corp. Balance Sheet December 31, 2013 and December 31, 2014 2013 Dr. Cr. 2014 Assets Cash $19,000 $71,000 Accounts Receivable                 66,000                 84,000 Inventory               185,000               184,000 Land               113,000                 67,000 Equipment               195,000               256,000 Accummulated Depreciation                (42,000)                (69,000) Total $536,000 $593,000 Liabilities and Stockholders' Equity Accounts Payable $44,000 $36,000 Bonds Payable               198,000               143,000 Common Stock               167,000               222,000 Retained Earnings               127,000               192,000 Total $536,000                         -                          ...
The balance sheets of Dolan Company, for December 31, 2014 and 2013, are as follows: 2014...
The balance sheets of Dolan Company, for December 31, 2014 and 2013, are as follows: 2014 2013 Cash $  68,000 $  42,500 Accounts receivable (net) 61,000 70,200 Inventories 121,000 105,000 Investments ..... 100,000 Equipment 515,000 425,000 Accumulated depreciation-equipment (153,000) (175,000) $612,000 $567,700 Accounts payable $  59,750 $  47,250 Bonds payable, due 2010 ..... 75,000 Common stock, $20 par 375,000 325,000 Premium on common stock 50,000 25,000 Retained earnings   127,250     95,450 $612,000 $567,700 Additional information: (a) Net income, $71,800. (b) Depreciation reported on income statement,...
Boca Inc. Balance Sheets December 31 Assets 2018 2017 Cash 110,800 48,400 Accounts Receivable 38,000 87,800...
Boca Inc. Balance Sheets December 31 Assets 2018 2017 Cash 110,800 48,400 Accounts Receivable 38,000 87,800 Inventory 112,500 102,850 Prepaid Expenses 26,000 28,400 Long-term Investments 109,000 138,000 Plant Assets 397,000 242,500 Accumulated depreciation -50,000 -52,000 Total 743,300 595,950 Liabilities and Stockholders' Equity Accounts Payable 72,000 67,300 Accrued Expenses Payable 13,500 21,000 Dividends Payable 3,000          - Bonds Payable 170,000 146,000 Common Stock 262,000 175,000 Retained Earnings 222,800 186,650 Total 743,300 595,950 Additional Information: 1. Old plant assets having an original...
Boca Inc. Balance Sheets December 31 Assets 2018 2017 Cash 60,800 48,400 Accounts Receivable 87,800 38,000...
Boca Inc. Balance Sheets December 31 Assets 2018 2017 Cash 60,800 48,400 Accounts Receivable 87,800 38,000 Inventory 102,850 112,500 Prepaid Expenses 28,400 26,000 Long-term Investments 138,000 109,000 Plant Assets 347,000 242,500 Accumulated depreciation (50,000) (52,000) Total 714,850 524,400 Liabilities and Stockholders' Equity Accounts Payable 67,300 72,000 Accrued Expenses Payable 21,000 13,500 Dividends Payable 3,000 - Bonds Payable 170,000 146,000 Common Stock 262,000 175,000 Retained Earnings 191,550 117,900 Total 714,850 524,400 Additional Information: 1. Old plant assets having an original cost...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT