1. Gain/loss on disposal of equipment is $100. On CS, do I add it to the amt listed or subtract it? If you are working with the end of 12/31/2017, do you involved 2016 also, besides the ending balance
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Peyton's approval Statement cash flow.
1. Gain/loss on disposal of equipment is $100. On CS, do I add it to the amt listed or subtract it?
If you are working with the end of 12/31/2017, do you involved 2016 also, besides the ending balance
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- Partially Completed Spreadsheet Hanks Company has prepared the following changes in account balances for the spreadsheet to support its 2019 statement of cash flows: Additional information: The net income was 1,300. Depreciation expense was 350, and patent amortization expense was 100. At the end of 2019, long-term investments were purchased at a cost of 1,550. Land that cost 700 was sold for 900. On December 31, 2019, bonds payable with a face value of 2,000 were issued for equipment valued at 2,300. Two hundred shares of common stock were issued at 7 per share. Forty shares of common stock were issued as a small stock dividend, the relevant market price being 5 per share. Cash dividends declared and paid totaled 600. Required: On the basis of the preceding information, complete the spreadsheet.Determining Cash Flows 1from Investing Activities Airco owns several aircraft and its balance sheet indicated the following amounts for its aircraft accounts at the end of 2019 and 2018: Required: 1. Assume that Airco did not sell any aircraft during 2019. Determine the amount of depreciation expense for 2019 and the cash spent for aircraft purchases in 2019. 2. If Airco sold for cash aircraft that cost $4,100,000 with accumulated depreciation of $3,825,000 producing a gain of $193,000, determine (a) the amount of depreciation expense, (b) the cash paid for aircraft purchases in 2019, and (c) the cash inflow from the disposal of aircraft.AFN EQUATION Refer to Problem 16-1 and assume that the company had 3 million in assets at the end of 2019. However, now assume that the company pays no dividends. Under these assumptions, what additional funds would be needed for the coming year? Why is this AFN different from the one you found in Problem 16-1?
- Selected information from Brook Corporations accounting records and financial statements for 2019 follows: On the statement of cash flows for the year ended December 31, 2019, Brook should disclose a net increase in cash in the amount of: a. 1,700,000 b. 2,400,000 c. 3,700,000 d. 4,200,000View the balance sheet and cash flows, and write a 100 word minimum analysis in complete sentences. Period Ending: 12/31/2020 12/31/2019 12/31/2018 12/31/2017 Net Income $690,000 -$870,000 -$976,000 -$1,962,000 Cash Flows-Operating Activities Depreciation $2,502,000 $2,342,000 $2,060,000 $1,727,000 Net Income Adjustments $2,395,000 $1,187,000 $1,043,000 $950,000 Changes in Operating Activities Accounts Receivable -$652,000 -$367,000 -$497,000 -$25,000 Changes in Inventories -$422,000 -$429,000 -$1,023,000 -$179,000 Other Operating Activities -$1,667,000 -$937,000 -$504,000 -$1,610,000 Liabilities $2,925,000 $1,384,000 $2,082,000 $1,317,000 Net Cash Flow-Operating $5,943,000 $2,405,000 $2,098,000 -$61,000 Cash Flows-Investing Activities Capital Expenditures -$3,232,000 -$1,432,000 -$2,319,000 -$4,081,000 Investments -- -- -- -- Other Investing Activities $100,000 -$4,000 -$18,000 -$115,000 Net Cash Flows-Investing -$3,132,000…I could only attach 2 pictures, the last picture has only one column "Cash and cash equivalents at the end of the year R36000". Questions based on the attachments.. Calculate the cash balance as at beginning of the year and state whether the balance is favorable or unfavorable. Calculate the amount of interest paid for the year ended 31 December 2020. Identify one item from the statement of cash flows below that increases cash flow but not profit. Explain why depreciation is added on the operating profit. Comment on the following cash flow of Mustang Limited: Cash flows from operating activities R292000 Increase in receivables (R76000) Cash flows from investing activities (R448000) Cash flow from financing activities (R160000)
- The HEYBM CORPORATION presented the following in order to aid the accountant in preparing the CFS: (December 2020) Required: Prepare a Statement of Cash Flow (how should be the Statement of Cash Flow look like) a.Net income: P200,000 b.Depreciation expense : P 25,000 c.Gain on sale of property and equipment: (P100,000) d.Decrease in trade and other receivables: P 70,000 e.Purchase of property and equipment: P200,000 f.Payment of loan from bank: P150,000 g.Ending Cash balance is 700,000.00 h.Beginning Cash is 855,00.00 Required: Prepare a Statement of Cash FlowAtkins Corporation has provided the following information for the year ended December 31, 2019:• The equipment account balance increased $200,000.• The equipment accumulated depreciation account increased $35,000.• Equipment costing $50,000 was sold during the year resulting in a $10,000 gain.• Depreciation expense on the equipment recorded during the year was $65,000. Which of the following statements is incorrect with respect to preparation of the statement of cash flows? Assume that the equipment purchase and sale resulted in cash flows. A. A $60,000 cash inflow is reported from the equipment sale. B. Using the indirect method, net income is increased by the $65,000 depreciation expense. C. Using the indirect method, net income is decreased by the $10,000 gain on the sale of the equipment. D. A $30,000 cash inflow is reported from the equipment sale.• create a cash flow statement The DRT COMPANY presented the following in order to aid the accountant in preparing the CFS: December 2021 a. Net income: P200,000 b. Depreciation expense : P 25,000 c. Gain on sale of property and equipment: (P100,000) d. Decrease in trade and other receivables: P 70,000 e. Purchase of property and equipment: P200,000 f. Payment of loan from bank: P150,000 g. Ending Cash balance is 700,000.00 h. Beginning Cash is 855,00.00
- Fearless Flying Squirrels Company collected the following data in its accounting records in 2022: From the income statement: Depreciation expense $1,100 Loss on sale of equipment 3,100 From the comparative balance sheet: Beginning balance, equipment $12,500 Ending balance, equipment 7,900 Beginning balance, accumulated depreciation 1,900 Ending balance, accumulated depreciation 2,300 No new equipment was purchased during the year. Required: What was the cash in-flow from the sale of equipment in 2022?Use the following information to prepare a statement of cash flows (indirect method) for Sink Industries for the year ended December 31, 2018, and calculate ending cash flows: Net income for the year 2018 was $5,000. Accounts receivable decreased $2,000, while inventories increased $4,000, and accounts payable decreased $7,000. Depreciation expense included in net income was $8,000. During the year, a piece of land held for future expansion was sold for its book value of $8,000, and a new service truck was purchased for $14,000. The company borrowed $18,000 on a two-year note from the bank. Dividends of $6,000 were paid in cash. preferred stock was issued to retire $7,000 of long-term notes payable. The beginning cash balance was $10,000.
