Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 1, Problem 6BP
To determine
Prepare the 2019 year –end statement of
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How do you calculate a statement of Cash Flows using the below details:
Maple Group Ltd
Comparative Balance Sheet
December 31, 2020 and 2019
2020
2019
Increase/Decrease
Assets
Cash and cash Equivalent
$ 51,500.00
$ 45,400.00
$ 6,100.00
Accounts Receivable
$ 51,100.00
$ 61,400.00
$ 10,000.00
Inventories
$ 61,400.00
$ 51,900.00
$ 9,500.00
Fixed Assets, net
$ 160,000.00
$ 110,000.00
$ 50,000.00
Total Assets
$ 324,000.00
$ 268,700.00
$ 55,600.00
Liabilities
Accounts Payable
$ 35,450.00
$ 27,800.00
$ 7,650.00
Accrued liabilities
$ 31,000.00
$ 37,550.00
-$ 6,550.00
Long-term notes payable
$ 60,000.00
$ 78,540.00
-$ 18,540.00
Stockholders Equity:
Common Stock
$ 143,050.00
$ 105,110.00
$ 37,940.00
Retained Earnings
$ 54,800.00
$…
Accounting
Selected financial statement information and additional data for Stanislaus Co.
is presented below. Prepare a statement of cash flows for the year ending
December 31, 2022 and answer the question below and other questions from
the same statement of cash flows.
December 31
2021 2022
Cash..
Accounts receivable (net).
Inventory.
Land..
$39,000
84,000
168,000
61,800 32,000
504,000
$856,800
$84,000
$54,000
144,200
206,600
Equipment.
TOTAL.
Accumulated depreciation..
Accounts payable..
Notes payable - short-term.
Notes payable - long-term..
Common stock.
Retained earnings.
50,400
67,200
219,600
420,000
15,600
789,600
$1,226,400
$110,600
91,000
29,400
302,400
487,200
205,800
TOTAL..
$856,800
$1,226,400
Additional data for 2022:
1. Net income was $230,200.
2. Depreciation was $26,600.
3. Land was sold at its original cost.
4. Dividends of $40,000 were paid.
5. Equipment was purchased for $202,800 cash.
6. A long-term note for $82,800 was used to pay for an equipment purchase.
7.…
How would you prepare a statement of Cash Flows using the following information?
Maple Group Ltd
Comparative Balance Sheet
December 31, 2020 and 2019
2020
2019
Increase/Decrease
Assets
Cash and cash Equivalent
$ 51,500.00
$ 45,400.00
$ 6,100.00
Accounts Receivable
$ 51,100.00
$ 61,400.00
$ 10,000.00
Inventories
$ 61,400.00
$ 51,900.00
$ 9,500.00
Fixed Assets, net
$ 160,000.00
$ 110,000.00
$ 50,000.00
Total Assets
$ 324,000.00
$ 268,700.00
$ 55,600.00
Liabilities
Accounts Payable
$ 35,450.00
$ 27,800.00
$ 7,650.00
Accrued liabilities
$ 31,000.00
$ 37,550.00
-$ 6,550.00
Long-term notes payable
$ 60,000.00
$ 78,540.00
-$ 18,540.00
Stockholders Equity:
Common Stock
$ 143,050.00
$ 105,110.00
$ 37,940.00
Retained Earnings
$ 54,800.00
$ 19,700.00
$…
Chapter 1 Solutions
Principles of Financial Accounting.
Ch. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - If the assets of a company increase by 100,000...Ch. 1 - Brunswick borrows 50,000 cash from Third National...Ch. 1 - Geek Squad performs services for a customer and...Ch. 1 - Prob. 1DQCh. 1 - Technology is increasingly used to process...Ch. 1 - Identify four kinds of external users and describe...Ch. 1 - What are at least three questions business owners...Ch. 1 - Identify three actual businesses that offer...
Ch. 1 - Describe the internal role of accounting for...Ch. 1 - Prob. 7DQCh. 1 - What type of accounting information might be...Ch. 1 - Why is accounting described as a service activity?Ch. 1 - What are some accounting-related professions?Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - What does the concept of objectivity imply for...Ch. 1 - Prob. 14DQCh. 1 - Why is the revenue recognition principle needed?...Ch. 1 - Describe the three basic forms of business...Ch. 1 - Define (a) assets, (b) liabilities, (c) equity,...Ch. 1 - Prob. 18DQCh. 1 - Identify the two main categories of accounting...Ch. 1 - What do accountants mean by the term revenue?Ch. 1 - Prob. 21DQCh. 1 - Prob. 22DQCh. 1 - Prob. 23DQCh. 1 - Give two examples of expenses a business might...Ch. 1 - What is the purpose of the statement of retained...Ch. 1 - Prob. 26DQCh. 1 - Prob. 27DQCh. 1 - Define and explain return on assets.Ch. 1 - Define return and risk. Discuss the trade-off...Ch. 1 - Prob. 30DQCh. 1 - Prob. 31DQCh. 1 - Prob. 32DQCh. 1 - GOOGLE Access the SEC EDGAR database (SEC.gov) and...Ch. 1 - Understanding accounting Choose from the following...Ch. 1 - Identifying accounting users C2 Identify the...Ch. 1 - Prob. 3QSCh. 1 - Prob. 4QSCh. 1 - Prob. 5QSCh. 1 - Identifying accounting principles and assumptions...Ch. 1 - Applying the accounting equation A1 a. Total...Ch. 1 - Applying the accounting equation Use the...Ch. 1 - Use Google 's December 31, 2017, financial...Ch. 1 - Prob. 10QSCh. 1 - Prob. 11QSCh. 1 - Prob. 12QSCh. 1 - Prob. 13QSCh. 1 - Prob. 14QSCh. 1 - Prob. 15QSCh. 1 - Prob. 16QSCh. 1 - Prob. 17QSCh. 1 - Classifying activities reflected in the accounting...Ch. 1 - Prob. 2ECh. 1 - Prob. 3ECh. 1 - Prob. 4ECh. 1 - Prob. 5ECh. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Using the accounting equation Determine the...Ch. 1 - Using the accounting equation Answer the following...Ch. 1 - Analysis using the accounting equation Zen began a...Ch. 1 - Identifying effects of transactions on the...Ch. 1 - Identifying effects of transactions on the...Ch. 1 - Identifying effects of transactions using the...Ch. 1 - Prob. 14ECh. 1 - Preparing an income statement On October 1, Ebony...Ch. 1 - Preparing a statement of retained earnings Use the...Ch. 1 - Prob. 17ECh. 1 - Preparing a statement of cash flows Use the...Ch. 1 - Prob. 19ECh. 1 - Prob. 20ECh. 1 - Match each transaction a through e to one of tire...Ch. 1 - Prob. 22ECh. 1 - Using the accounting equation A1 Answer the...Ch. 1 - Identifying effects of transactions on financial...Ch. 1 - Computing missing information using accounting...Ch. 1 - Preparing an income statement P2 As of December...Ch. 1 - Prob. 4APCh. 1 - Prob. 5APCh. 1 - Preparing a statement of cash flows P2 Following...Ch. 1 - Prob. 7APCh. 1 - Prob. 8APCh. 1 - Determining expenses, liabilities. equity, and...Ch. 1 - Prob. 11APCh. 1 - Prob. 12APCh. 1 - Describing business activities C5 A start-up...Ch. 1 - Describing business activities An organization...Ch. 1 - Prob. 1BPCh. 1 - Prob. 3BPCh. 1 - Prob. 4BPCh. 1 - Prob. 5BPCh. 1 - Prob. 6BPCh. 1 - Prob. 8BPCh. 1 - Determining expenses, liabilities, equity, and...Ch. 1 - Prob. 11BPCh. 1 - Identifying risk and return All business decisions...Ch. 1 - Prob. 13BPCh. 1 - Prob. 14BPCh. 1 - Prob. 1SPCh. 1 - COMPANY ANALYSIS Key financial figures for Apple's...Ch. 1 - Prob. 2AACh. 1 - Prob. 3AACh. 1 - ETHICS CHALLENGE Tana Thorne works in a public...Ch. 1 - COMMUNICATING IN PRAC TICE APPLE Refer to this...Ch. 1 - TAKING IT TO THE NET A2 Visit the EDGAR database...Ch. 1 - ENTREPRENEURIAL DECISION APPLE Refer to this...
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