Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities:$ 4,235881Net incomePurchase of equipmentBorrowings under line of credit (bank)Proceeds from issuance of common stock1,42712Cash received from customers29,264Payments to reduce notes payable (long-term)Sale of investments47135Proceeds from sale of equipmentDividends paidInterest paid6,69427891Required:Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amountsto be deducted should be indicated with a minus sign.)MODERN MOVABLES CORPORATIONStatement of Cash Flows (Partial)Cash Flows from Investing Activities:Cash Flows from Financing Activities:

Lets understand the basics. Cashflow statement is divided into three parts which are, (1) Cashflow…

Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities: Net income $ 4,235 Purchase of equipment Borrowings under line of credit (bank) 881 1,427 Proceeds from issuance of common stock 12 Cash received from customers 29,264 Payments to reduce notes payable (long-term) Sale of investments Proceeds from sale of equipment Dividends paid Interest paid 47 135 6,694 278 91

Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities: Net income $ 4,235 Purchase of equipment Borrowings under line of credit (bank) 881 1,427 Proceeds from issuance of common stock 12 Cash received from customers 29,264 Payments to reduce notes payable (long-term) Sale of investments Proceeds from sale of equipment Dividends paid Interest paid 47 135 6,694 278 91

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 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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Modern Movables Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities: Net income $ 3,335 Purchase of equipment 791 Borrowings under line of credit (bank) 1,337 Proceeds from issuance of common stock 29 Cash received from customers 28,364 Payments to reduce notes payable (long-term) 38 Sale of investments 126 Proceeds from sale of equipment 5,794 Dividends paid 269 Interest paid 82 Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement.
Baker & Co. has applied for a loan from the Trust Us Bank in order to invest in several potential opportunities. In order to evaluate the firm as a potential debtor, the bank would like to compare Baker & Co. with the industry. Balance Sheet December 31 December 31 Income Statement For the year ended Dec 31, 2021 2020 2021 Assets Sales (100% credit) 1,330 Cash 305 270 Less: Cost of goods sold 760 Accounts receivable 275 290 Gross profit 570 Inventory 600 580 Operating expenses 30 Current assets 1,180 1,140 Depreciation 200 Plant and equipment 1,700 1,940 Net operating income 340 Less: acc depr -500 -600 Less: Interest expense 57 Net plant and equipment 1,200 1,340 Net income before taxes 283 Total assets 2,380 2,480 Less: Taxes 96 Net income 187 Liab. and Owners' Equity Accounts payable 150 200 Notes payable 125 - Current liabilities 275 200 Bonds payable 500 500…
The trial balance of Scan House, Inc. included the following selected accounts as of December 31, 2020: Debits Credits Sales Revenue 16,755,000 Interest Revenue 75,000 Gain on sale of investments 150,000 Unrealized gains on investments 200,000 Other Income * 1,200,000 Foreign currency translation losses 125,000 Cost of Goods Sold 11,635,000 Selling expenses 975,000 Goodwill impairment loss 550,000 Interest Expense 60,000 Administrative Expense** 780,000 Loss on sale of land 225,000 Dividends declared 175,000 Additional information:* Other Income consists of income from discontinued operations. This includes $900,000 of income from operations and a $300,000 gain on the sale of investments. ** Administrative expense includes a $150,000 expense that was a correction of an error made in the 2018 Income Statement, but discovered during 2020. Retained Earnings balance: January 1, 2020 = $725,000. ScanHouse had 600,000 shares…
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The net changes in the balance sheet accounts of Linda, Inc. for the year 2021 are shown below: Account Debit Credit Cash $ 217,900 Accounts receivable $ 63,100 Allowance for doubtful accounts 11,700 Inventory 195,900 Prepaid expenses 22,300 Long-term investments 147,000 Land 410,000 Buildings 655,000 Machinery 92,000 Office Equipment 30,000 Accumulated depreciation: Buildings 24,500 Machinery 18,100 Office Equipment 15,000 Accounts payable 183,900 Accrued liabilities 75,000 Dividends payable 128,500 Premium on bonds 37,600 Bonds payable 940,000 Preferred stock ($50 par) 74,400 Common stock ($10 par) 160,000 Additional paid-in capital—common 298,400 Retained earnings 67,500 $1,933,900 $1,933,900 Additional information: 1. Net income $165,500 2.…
Classified Balance Sheet—Including NotesAdjusted account balances and supplemental information for Brockbank Research Corp. as of December 31, 2013, are as follows: Accounts Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,160 Accounts Receivable—Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,731 Accumulated Depreciation—Leasehold Improvements and Equipment. . . . . 579,472 Additional Paid-In Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .265,000 Allowance for Bad Debts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,731 Automotive Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132,800 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25,600 Cash Fund for Bond Retirement. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. . .3,600 Common Stock. . . . .…
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