Forecast Cash Flow Statement for 2020 183Excrcise 5-7The beginning and ending balances in each of the balance sheet accountsof the Mexico Company are as follows:Dec. 31, 2019P260,000180,000400,00050,000P890,000P1,200,0001,000,000(400,000)P1,800,000Dec. 31, 2020P100,000360,000460,00030,000P950,000P1,500,0001,400,000(500,000)P2,400,000CashAccounts receivableInventoryPrepaid insuranceTotal current assetsLandPlant & equipmentAccumulated depreciationTotal non-current assetsTotal assetsP2,690,000P3,350,000Accounts payableAccrued operating expensesInterest payableIncome taxes payableP 300,000200,000P 260,000132,00030,00020,000122,000P 642,000150.000P 572,000700,000Total current liabilitiesBonds payable600,000800,000648,000Common stock1,100,000Retained earnings978,000Total liabilities & equityP2,690,000P3,350,000The forecast income statement for the Mexico Company for 2020 ispresented below:P2,500,0001,400,000P1,100,000300,000P 800,00050,000P 750,000300,000P 450,000SalesCost of salesGross profitOperating expensesIncome before interest & taxInterest expenseIncome before taxIncome taxNet incomeREQUIRED:1. Prepare a forecast cash flow statement for 2020,

CFS: The cash that is flowing in and out of the entity is to be recorded in a statement called cash…

Exercise 5- The beginning and ending balances in each of the balance sheet accounts of the Mexico Company are as follows: Dec. 31, 2019 P260,000 180,000 Dec. 31, 2020 P100,000 Cash 360,000 Accounts receivable 460,000 400,000 50,000 P890,000 P1,200,000 1,000,000 Inventory Prepaid insurance 30,000 P950,000 P1,500,000 1,400,000 Total current assets Land Plant & equipment Accumulated depreciation (400,000) P1,800,000 (500,000) P2,400,000 Total non-current assets Total assets P2,690,000 P3,350,000 P 260,000 132,000 30,000 150.000 P 572,000 700,000 P 300,000 Accounts payable Accrued operating expenses Interest payable Income taxes payabie 200,000 20,000 122,000 P 642,000 600,000 800,000 648.000 Total curret liabilities Bonds payable 1,100,000 Common stock 978,000 Retained earnings P2,690,000 P3,350,000 Total liabilities & equity The forecast income statement for the Mexico Company for 2020 i presented below: P2,500,000 1,400,000 P1,100,000 300,000 Sales Cost of sales Gross profit Operating expenses P 800,000 50,000 P 750,000 300,000 Income before interest & tax Interest expense Income before tax Income tax P 450,000 Net income REQUIRED: 1. Prepare a forecast cash flow stateRIent for 2020.

Exercise 5- The beginning and ending balances in each of the balance sheet accounts of the Mexico Company are as follows: Dec. 31, 2019 P260,000 180,000 Dec. 31, 2020 P100,000 Cash 360,000 Accounts receivable 460,000 400,000 50,000 P890,000 P1,200,000 1,000,000 Inventory Prepaid insurance 30,000 P950,000 P1,500,000 1,400,000 Total current assets Land Plant & equipment Accumulated depreciation (400,000) P1,800,000 (500,000) P2,400,000 Total non-current assets Total assets P2,690,000 P3,350,000 P 260,000 132,000 30,000 150.000 P 572,000 700,000 P 300,000 Accounts payable Accrued operating expenses Interest payable Income taxes payabie 200,000 20,000 122,000 P 642,000 600,000 800,000 648.000 Total curret liabilities Bonds payable 1,100,000 Common stock 978,000 Retained earnings P2,690,000 P3,350,000 Total liabilities & equity The forecast income statement for the Mexico Company for 2020 i presented below: P2,500,000 1,400,000 P1,100,000 300,000 Sales Cost of sales Gross profit Operating expenses P 800,000 50,000 P 750,000 300,000 Income before interest & tax Interest expense Income before tax Income tax P 450,000 Net income REQUIRED: 1. Prepare a forecast cash flow stateRIent for 2020.

Accounting (Text Only)

26th Edition

ISBN:9781285743615

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 16.3APE: Changes in current operating assets and liabilities-indirect method Alpenrose Corporations...

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(Appendix 21.1) Comprehensive The following are Adair Companys December 31, 2018, post-closing trial balance and the December 31, 2019, adjusted trial balance: A review of the accounting records reveals the following additional information for 2019: Investments in bonds to be held to maturity were purchased at year-end for 8,600. A building was purchased for 28,000. A note payable was issued for 9,000. Common stock was issued for 14,500. Dividends of 6,500 were declared and paid. Required: 1. Using the direct method for operating cash flows, prepare a spreadsheet to support the 2019 statement of cash flows for Adair. 2. Prepare the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
Changes in current operating assets and liabilities-indirect method Alpenrose Corporations comparative balance sheet for current assets and liabilities was as follows: Dec. 31, 2016 Dec. 31, 2015 Accounts receivable 27,000 32,400 Inventory 18,000 15,480 Accounts payable 16,200 14,220 Dividends payable 49,500 53,100 Adjust net income of 207,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Working capital and current ratio Current assets and current liabilities for Brimstone Company follow: 2019 2018 Current assets 1,586,250 1,210,000 Current liabilities 705,000 550,000 a.Determine the working capital and current ratio for 2019 and 2018. b.Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change?
(Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson Companys adjusted trial balance at the end of 2019: In addition, the following information was obtained from the companys records: Land was sold, at cost, for 1,900. Dividends of 4,000 were declared and paid. Equipment was purchased for 10,400. Common stock was issued for 9,000. Beginning cash balance was 17,000. Required: Using visual inspection and the direct method, prepare Walsons 2019 statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
CC18 The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31, 2024, follows. COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, 2024 Assets Current assets Cash $28,355 Accounts receivable 2,860 Inventory 15,750 Prepaid rent 5544 $52,509 Property, plant, and equipment Equipment $87,736 Accumulated depreciation—equipment (8,668) 79,068 Total assets $131,577 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $5,093 Income taxes payable 16280 Dividends payable 616 Salaries and wages payable 1,980 Interest payable 220 Notes payable—current portion 3,520 $27,709 Long-term liabilities Notes payable—long-term portion 5,280 Total liabilities 32,989…
CC18 The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October 31, 2024, follows. COOKIE & COFFEE CREATIONS INC. Balance Sheet October 31, 2024 Assets Current assets Cash $28,355 Accounts receivable 2,860 Inventory 15,750 Prepaid rent 5544 $52,509 Property, plant, and equipment Equipment $87,736 Accumulated depreciation—equipment (8,668) 79,068 Total assets $131,577 Liabilities and Stockholders’ Equity Current liabilities Accounts payable $5,093 Income taxes payable 16280 Dividends payable 616 Salaries and wages payable 1,980 Interest payable 220 Notes payable—current portion 3,520 $27,709 Long-term liabilities Notes payable—long-term portion 5,280 Total liabilities 32,989…
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Exercise 4. Selected account balance before adjustments for Kiss Me Again Company on December 31, 2020 are as follows: Debit CreditAccounts Receivable P84,625Supplies 11,375Equipment 215,000Module 4 10- NABAccumulated Depreciation P34,450Wages payable 0Unearned fees 23,500Fees earned 348,975Wages expense 79,700Rent expense 48,000Depreciation Expense 0Supplies expense 0The data needed for year-end adjustments are as follows:a. Fees earned but not yet collected on December 31, P31,575.b. Supplies on hand on December 31, P2,785c. Rent expired during the year, P36,000d. Depreciation for equipment during the year, P5,000e. Wages accrued but unpaid on December 31, P13,800f. Accounts receivable of P10,000 is doubtful of being collected.Date Description PR Debit Credit
kk.2 The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2023 disclosed the following:
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5. Prepare the company’s classified balance sheet at June 30, 2022.
Q.4 From the following balances prepare Final Accounts as at 31st March, 2019: - Particulars ₹ Particulars ₹ Stock 1-4-2018 23,500 Freight In 1100 Purchases 46,800 Freight Out 3000 Sales 1,30,000 Rent (factory 1/3, Office 2/3) 7500 Productive Expenses 27000 Legal Expenses 800 Unproductive Expenses 5800 Miscellaneous Receipts 500 Trade Expenses 1200 Sundry Debtors 30,000 Returns In 6600 Sundry Creditors 16,100 Returns Out 2800 Donation 600 Loose Tools 7200 Bad Debts 4750 Trade Marks 5000 Bad Debts Recovered 4000 Discount Cr. 2100 Bank charges 2800 Salaries 9600 Loan on Mortgage 20,000 Fixed Deposit 10,000 Interest on Loan 2400 Cash in Hand 1300 Motor Vehicles 50,000 Leasehold Land 60,000 Capital 1,37,450 Life Insurance Premium 6000 12 marks Value of Closing Stock was ₹36,500 on 31st March, 2019.