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In: Accounting

Category Prior Year Current Year Accounts payable 3,131.00 5,938.00 Accounts receivable 6,885.00 8,936.00 Accruals 5,601.00 6,112.00...

Category Prior Year Current Year Accounts payable 3,131.00 5,938.00 Accounts receivable 6,885.00 8,936.00 Accruals 5,601.00 6,112.00 Additional paid in capital 19,755.00 13,391.00 Cash ??? ??? Common Stock 2,850 2,850 COGS 22,261.00 18,280.00 Current portion long-term debt 500 500 Depreciation expense 1,045.00 950.00 Interest expense 1,274.00 1,149.00 Inventories 3,002.00 6,674.00 Long-term debt 16,600.00 22,653.00 Net fixed assets 75,582.00 73,964.00 Notes payable 4,023.00 6,580.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,022.00 34,680.00 Sales 46,360 45,431.00 Taxes 350 920 What is the firm's total change in cash from the prior year to the current year?

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Expert Solution

Trial Balance
Prior Year Current Year
Debit Credit Debit Credit
Accounts payable       3,131.00       5,938.00
Accounts receivable       6,885.00       8,936.00
Accruals       5,601.00       6,112.00
Additional paid in capital     19,755.00     13,391.00
Cash       3,493.00       7,262.00
Common stock       2,850.00       2,850.00
Cost of goods sold     22,261.00     18,280.00
Current portion long-term debit           500.00           500.00
Depreciation expense       1,045.00           950.00
Interest expense       1,274.00       1,149.00
Inventories       3,002.00       6,674.00
Long term debt     16,600.00     22,653.00
Net fixed assets     75,582.00     73,964.00
Notes payable       4,023.00       6,580.00
Operating expense     19,950.00     20,000.00
Retained earnings     35,022.00     34,680.00
Sales     46,360.00     45,431.00
Taxes           350.00           920.00
Total 133,842.00 133,842.00 138,135.00 138,135.00

change in cash from prior year to current year = Current year cash - Prior year cash

= 7,262-3,493

= $3,769

Kindly give a positive rating if you are satisfied with this solution and please ask if you have any query.

Thanks

ekkarill92 answered 1 year ago
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