Can you do 1) CASH FLOW FROM OPERATION ACTIVITIES 2)CASH FLOWS FROM FINANCING ACTIVITIES 3)CASH FLOW FROM INVESTMENT ACTIVITIES tables from the information attached in images. The cash flow system is indirectly JUPITER TRADING CO. BALANCE SHEET31.12.2018 - 31.12.2019ASSETSLIABILITIES AND EQUITY2018201920182019Current AssetsCurrent Liabilities84.180 Accounts Payable42.000 Salaries and Wages PayableCash41.00029.00043.00032.000Accounts Receivable24.00041.000(-) Allowance for Doubtful Accounts-6.0001.280ruedbilities81.00067.400Trading SecuritiesPrepaid Expenses52.00065.500 Unearned Revenue42.00060.00033.000 Taxes Payable42.00065.000 124.000 Total Current Liabilities13.20019.800Inventory203.200 220.200Total Current Assets223.000 337.400Noncurrent LiabilitiesLong Term AssetsLandNotes Payable134.000 102.00076.800100.000 100.000 Lease Liabilities109.400 149.600 Total Noncurrent Liabilities92.600PP&E210.800 194.600(-) Accumulated Depreciation-32.400-46.200 Shareholders's EquityGoodwill200.000 200.000 Share Capital120.000 180.000-40.000 Retained Earnings377.000 363.400 Total Shareholders's Equity600.000 700.800 Total Liabilities and Equity(-) Accumuated Impairment Loss66.000 106.000Total Long Term Assets186.000 286.000Total Assets600.000 700.800 JUPITER TRADING COINCOME STATEMENT FOR THE YEAR 2019Net Sales564.020Cost of Goods Sold-332.340Gross MarginOperating Expenses231.680-117.080Depreciation Expenses-13.800Salaries & Wages-60.000Insurance ExpenseTravel Expense-12.000-26.000Bad Debt Expense-5.280Operating IncomeNon-operating Revenues and Expneses114.600-68.000Interest Expense-37.000Interest Revenue3.000Gain on Sale of Trading Securities6.000Impairmenet Loss on Goodwill-40.000Income Before Tax46.600Income Tax-6.600Net Income (Loss)40.000

1. Cash Flow from Operating activities (Indirect Method) Net Income 40,000 Adjustments:…

Can you do 1) CASH FLOW FROM OPERATION ACTIVITIES 2)CASH FLOWS FROM FINANCING ACTIVITIES 3)CASH FLOW FROM INVESTMENT ACTIVITIES tables from the information attached in images. The cash flow system is indirectly

Can you do 1) CASH FLOW FROM OPERATION ACTIVITIES 2)CASH FLOWS FROM FINANCING ACTIVITIES 3)CASH FLOW FROM INVESTMENT ACTIVITIES tables from the information attached in images. The cash flow system is indirectly

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.7P

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Recording Various Liabilities Glenview Hardware had the following transactions that produced liabilities during 2020: a. Purchased merchandise on credit for $30,000. ( Note: Assume a periodic inventory system.) b. Year-end wages of $10,000 were incurred, but not paid. Related federal income taxes of $1,200, Social Security of $620 (employee portion), and Medicare taxes of $145 were with-held from employees. c. Year-end estimated income taxes payable, but unpaid, for the year were $42,850. d. Sold merchandise on account for $1,262, including state sales taxes of S48. ( Note: Assume a periodic inventory system.) e. Employers share of Social Security and Medicare taxes for the period were $620 and $145, respectively. f. Borrowed cash under a 90-day, 9%, $25,000 note. Required: Prepare the entry to record each of these transactions (treat each transaction independently).
Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020. Prepare Hellers partial income statements (through gross profit) for 2019 and 2020. RE22-2 Heller Company began operations in 2019 and used the LIFO method to compute its 300,000 cost of goods sold for that year. At the beginning of 2020, Heller changed to the FIFO method. Heller determined that its cost of goods sold under FIFO would have been 250,000 in 2019. For 2020, Hellers cost of goods sold under FIFO was 360,000, while it would have been 410,000 under LIFO. Heller is subject to a 21% income tax rate. Compute the cumulative effect of the retrospective adjustment on prior years income (net of taxes) that Heller would report on its retained earnings statement for 2020.
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Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on the liquidity metric working capital and profitability metric gross profit percent. Indicate the gross profit percent for each sale (rounding to one decimal place) in parentheses next to the effect of the sale on the company’s ability to attain an overall gross profit percent of 30%.
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