Exercise 16-16BDirect: Computing cash flows P5
For each of the following separate cases, compute the required cash flow information.
Case X: Compute cash received from customers
Sales................................ $515,000
Accounts receivable, Beginning balance____ 27.200
Accounts receivable. Ending balance..... 33,500
Case Y: Compute cash paid for rent
Rent expense......................... $139.3.00
Rent payable. Beginning balance......... 7.S00
Rent payable. Ending balance........... £.200
Case Z: Compute cash paid for inventory
Cost of goods sold.................. $525,000
Inventory, Beginning balance......... 15B.&00
Accounts payable, Beginning balance ... 56,700
Inventory, Ending balance............ 130,400
Accounts payable, Ending balance..... 32,000
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Fundamental Accounting Principles
- EX. 16-2 Effect of Trasactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a.Retired $400,000 of bonds, on which there was $3,000 of unamortized discount, for $411,000.arrow_forwardChapter 16 Statement of Cash Flows 807 Problems: Series A PR 16-1A Statement of cash flows OBJ. 2, 3, 4, S Net cash flows from The comparative balance sbeet of lelesias Inc. for December 31, 20Y3 and 20Y, 15 shown eperating activities, $588,000 as follows: Dec. 31,20Y3 Dec. 31,20Y2 Assets SHOW ME HOW Cash... $ 186,000 $ 180,000 Accounts receivable (net). 540,000 480,000 Inventories... 924,000 900,000 Investments.... 120,000 Land.... 600,000 Equipment....... Accumulated depreciation-equipment......**** *. Total assets.... 1,680,000 1,440,000 (720,000) $3,210,000 (600,000) $2,520,000 Llabilities and Stockholders' Equity Accounts payable... 5 408,000 5 360,000 54,000 60,000 Accrued expenses payable...... Dividends payable...... Common stock, $4 par.... 36,000 30,000 840,000 720,000 240,000 210,000 Paid-in capital in excess of par.... 1,632,000 1,140,000 Retained earnings...... $3,210,000 $2.520,000 Total liabilities and stockholders' equity..... Additional data obtained from an…arrow_forwardAppendix 2PR 13-4B Statement of cash flows—direct method The comparative balance sheet of Martinez Inc. for December 31, 20Y4 and 20Y3, is as follows:Dec. 31, 20Y4Dec. 31, 20Y3AssetsCash .....................................................$ 661,920$ 683,100Accounts receivable (net) .................................. 992,640 914,400Inventories ...............................................1,394,4001,363,800Investments ..............................................0432,000Land ..................................................... 960,0000Equipment................................................1,224,000 984,000Accumulated depreciation—equipment ....................(481,500)(368,400)Total assets ...............................................$4,751,460$4,008,900Liabilities and Stockholders’ EquityAccounts payable (merchandise creditors) ..................$1,080,000$ 966,600Accrued expenses payable (operating expenses) ............67,80079,200Dividends…arrow_forward
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- Accounting (Text Only)AccountingISBN:9781285743615Author:Carl Warren, James M. Reeve, Jonathan DuchacPublisher:Cengage Learning