12. Shown below are the accounts for Hoosier Co. in alphabetical order as of December 31, 2022. The amount for cash has been intentionally omitted. Accounts receivable Accounts payable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment 4.000 3,500 12,000 ? 25,000 12,000 5,000 35,000 Notes payable (due in 5 years) 8,000 Retained earnings (1/1/22) 15,000 Salaries expense 25,000 Service revenue 60,000 Prepare a balance sheet in good form and supply the missing amount for cash. I following information Prepare the odiu

12. Shown below are the accounts for Hoosier Co. in alphabetical order as of December 31, 2022. The amount for cash has been intentionally omitted. Accounts receivable Accounts payable Accumulated Depreciation Cash Common Stock Depreciation Expense Dividends Equipment 4.000 3,500 12,000 ? 25,000 12,000 5,000 35,000 Notes payable (due in 5 years) 8,000 Retained earnings (1/1/22) 15,000 Salaries expense 25,000 Service revenue 60,000 Prepare a balance sheet in good form and supply the missing amount for cash. I following information Prepare the odiu

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 47E

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Similar questions

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. 4,200,000
On December 31, Harrison Company reports the following assets: Which of these are included in, and excluded from, cash on the companys balance sheet?
Unusual income statement items Assume that the amount of each of the following items is material to the financial statements. Classify each item as either normally recurring (NR) or unusual (U) items. If unusual item, then specify if it is a discontinued operations item (DO). a. Interest revenue on notes receivable. b. Gain on sale of segment of the company's operations that manufactures bottling equipment. c.Loss on sale of investments in stocks and bonds. d. Uncollectible accounts expense. e. Uninsured flood loss. (Hood insurance is unavailable because of periodic Hooding in the area.)
Provide journal entries to record each of the following transactions. For each, also identify: *the appropriate section of the statement of cash flows, and **whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. reacquired $30,000 treasury stock B. purchased inventory for $20,000 C. issued common stock of $40,000 at par D. purchased land for $25,000 E. collected $22,000 from customers for accounts receivable F. paid $33,000 principal payment toward note payable to bank
Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2018. Someamounts, indicated by question marks, have been intentionally omitted.($ in thousands)Cash and cash equivalents $ 239,186Short-term investments 353,700Accounts receivable (net of allowance) 504,944Inventories ?Prepaid expenses (current) 83,259Total current assets 1,594,927Long-term receivables 110,800Property and equipment (net) ?Total assets ?Notes payable and short-term debt 31,116Accounts payable ?Accrued liabilities 421,772Other current liabilities 181,604Total current liabilities 693,564Long-term debt and deferred taxes ?Total liabilities 956,140Shareholders’ equity 1,370,627Required:1. Determine the missing amounts.2. Prepare Trident’s classified balance sheet.
The following are the changes in the accounts of BTS Co. during the period:· Accounts receivable- P240,000 increase· Prepaid assets- P600,000 increase· Inventory- P1,500,000 decrease· Notes payable- P800,000 decreaseAdditional information:During the year, BTS Co. obtained a bank loan of P2,000,000 and paid interest of P100,000. Interest of P80,000 is accrued on December 31, 2021. Interest payable at the end of 2020 amounted to P120,000. In 2021, a shareholder donated an equipment with historical cost of P1,000,000 and carrying amount of P800,000 to BTS Co. The fair value of the equipment is P600,000. BTS declared dividends in 2021 of P160,000.How much is the profit (loss) for the year?
The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000 OMR The following accounts decreased during 2020: Accounts receivable 24000 inventory 18000 OMR, Rent payable 15000, Machinery 15000 OMR The following accounts increased during 2020:Notes receivable 14000 Accounts Payable 8000 long term Bonds payable 30000 OMR Calculate cash flows from operating activities Select one: a. 149000 OMR b. 145000 OMR c. NONE OF THESE d. 136000 OMR