ACC 560 Week 9 Assignment
E13-5 The current sections of Bellinham Inc.'s balance sheets at December 31, 2007 and 2008, are presented here.
Bellinham's net income for 2008 was $153,000. Depreciation expense was $24,000.
2008 2007
Current assets
Cash $105,000 $99,000
Accounts receivable 110,000 89,000
Inventory 158,000 172,000
Prepaid expenses 27,000 22,000
Total current assets $400,000 $382,000
Current liabilities
Accrued expenses payable $15,000 $5,000
Accounts payable 85,000 92,000
Total current liabilities $100,000 $97,000
Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2008, using the indirect method.
Click here for the solution: The current sections of Bellinham Inc.'s balance sheets at December 31, 2007 and 2008, are presented here
Showing posts with label sections. Show all posts
Showing posts with label sections. Show all posts
Thursday, September 24, 2015
Wednesday, September 2, 2015
The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here
The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here.
Bellinham's net income for 2010 was $153,000. Depreciation expense was $24,000.
2010 2009
Current assets
Cash $105,000 $99,000
Accounts receivable 110,000 89,000
Inventory 158,000 172,000
Prepaid expenses 27,000 22,000
Total current assets $400,000 $382,000
Current liabilities
Accrued expenses payable $15,000 $5,000
Accounts payable 85,000 92,000
Total current liabilities $100,000 $97,000
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2010, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)
Click here for the solution: The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here
Bellinham's net income for 2010 was $153,000. Depreciation expense was $24,000.
2010 2009
Current assets
Cash $105,000 $99,000
Accounts receivable 110,000 89,000
Inventory 158,000 172,000
Prepaid expenses 27,000 22,000
Total current assets $400,000 $382,000
Current liabilities
Accrued expenses payable $15,000 $5,000
Accounts payable 85,000 92,000
Total current liabilities $100,000 $97,000
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2010, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg -45 or parentheses eg (45).)
Click here for the solution: The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here
Sunday, July 12, 2015
Below is a series of cost of goods sold sections for companies B, F, L, & R
E5-15 Below is a series of cost of goods sold sections for companies B, F, L, & R.
B F L R
Beginning Inventory $150 70 1000 (J)
Purchases 1600 1080 (G) 43590
Purchase returns and allowances 40 (D) 290 (K)
Net Purchases (a) 1030 6210 41090
Freight-In 110 (E) (H) 2240
Cost of goods purchased (b) 1280 7940 (L)
Cost of goods available for sale 1820 1350 (I) 49530
Ending Inventory 310 (F) 1450 6230
Cost of goods sold (C) 1230 7490 43300
Fill in the lettered blanks to complete the cost of goods sold sections.
Click here for the solution: Below is a series of cost of goods sold sections for companies B, F, L, & R
B F L R
Beginning Inventory $150 70 1000 (J)
Purchases 1600 1080 (G) 43590
Purchase returns and allowances 40 (D) 290 (K)
Net Purchases (a) 1030 6210 41090
Freight-In 110 (E) (H) 2240
Cost of goods purchased (b) 1280 7940 (L)
Cost of goods available for sale 1820 1350 (I) 49530
Ending Inventory 310 (F) 1450 6230
Cost of goods sold (C) 1230 7490 43300
Fill in the lettered blanks to complete the cost of goods sold sections.
Click here for the solution: Below is a series of cost of goods sold sections for companies B, F, L, & R
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