Final Exam, Part 2 >> Introduction to Financial Accounting
What was Clarke’s Cash Flow from Operations during the quarter ended 3/31/2015?
Purchased a $200,000 warehouse with $50,000 cash and a $150,000 mortgage from a bank.
Raised $100,000 from selling new shares of stock to investors. The cash was used to buy land to grow tulips.
Sold an old building for $50,000 (and suffered a loss on sale of $5,000) and used the cash to buy a new truck.
What is the net impact of these transactions on Geller’s Cash from Financing Activities during 2015?
| ($ millions) | Year ended 3/13/15 |
| Net Income | 1100 |
| Depreciation | 200 |
| Gain on sale of equipment | (400) |
| Chg in Accounts Receivable | 350 |
| Chg in Inventory | (200) |
| Chg in Other Current Assets | 100 |
| Chg in Accounts Payable | (50) |
| Net Cash from Operations | 1250 |
| Capital Expenditures | (1200) |
| Sale of Equipment | 700 |
| Net Cash from Investing | (500) |
What was the book value of the equipment Stewart sold during the year ended 03/31/15?
| 12/31/2014 | |
| Inventory | $20,000 |
Little Scuba’s Statement of Cash Flows had the following line item:
| 2014 | |
| Change in Inventory | $6,000 |
Assume that the company made no acquisitions or divestitures and that all operations are in Australia. How much Inventory did Little Scuba have on 12/31/2013?
| ($ millions) | 12/31/2015 |
| Cash | 100 |
| Accounts Receivable | 245 |
| Inventory | 450 |
| Other Current Assets | 60 |
| Current Assets | 855 |
| Net Property, Plant, & Equipment | 1,160 |
| Total Assets | 2,015 |
| Accounts Payable | 160 |
| Other Current Liabilities | 250 |
| Current Liabilities | 410 |
| Long-term Liabilities | 900 |
| Common Stock | 50 |
| Additional Paid-in Capital | 300 |
| Retained Earnings | coffee |
| Total Liabilities and SE | coffee |
What was Gogoldze Inc.’s Retained Earnings at 12/31/2015?
| ($ millions) | Year ended 12/31/2015 |
| Sales revenue | $1200 |
| Gain on sale of equipment | 200 |
| Total Revenue | 1400 |
| Cost of Goods Sold | (800) |
| Gross Profit | 600 |
| SG&A Expense | (400) |
| Interest Expense | (50) |
| Operating Income | 150 |
| Interest Revenue | 20 |
| Pre-tax income | 170 |
| Income Tax Expense | (61) |
| Net Income | 109 |
What is Alvear Corp.’s Operating Income for the year ended 12/31/2015 after correcting the mistakes?
Related Questions & Answers:
- Final Exam, Part 1 Final Exam, Part 1 >> Introduction to Financial Accounting TOTAL POINTS 12 1.A company delivered $10,000 of goods ... Read more...
- Homework #1 Homework #1 >> Introduction to Financial Accounting TOTAL POINTS 10 1.Who is responsible for preparing a company’s financial statements? ... Read more...
- Homework #2 Homework #2 >> Introduction to Financial Accounting TOTAL POINTS 10 1.Which of these transactions would produce $10,000 of revenue ... Read more...
- Homework #3 Homework #3 >> Introduction to Financial Accounting TOTAL POINTS 10 1.Which of the following would be a cash flow ... Read more...
- Final Exam Final Exam >> Data Analysis with Python TOTAL POINTS 12 1.What type of file allows data to be ... Read more...
- Fill in the blank: A data analyst is using data to address a large-scale problem. This type of analysis would most likely require _____. Select all that apply. 8. Fill in the blank: A data analyst is using data to address a large-scale problem. This type of analysis ... Read more...
