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Accounting Multiple Problems

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Question;Consider the following account starting balances and transactions involving these accounts.Use T-accounts to record the starting balances and the offsetting entries for the transactions.The starting balance of Accounts Receivable is $3,400The starting balance of Cash is $9,000The starting balance of Inventory is $5,1001. Receive payment of $10 owed by a customer2. Buy $16 worth of manufacturing supplies for cash3. Sell product for $40 with historical cost of $40What is the final amount in Cash?#2Consider the following account starting balances and transactions involving these accounts.Use T-accounts to record the starting balances and the offsetting entries for the transactions.The starting balance of Accounts Payable is $1,900The starting balance of Cash is $9,100The starting balance of Debt is $2,400The starting balance of Inventory is $4,8001. Buy $18 worth of manufacturing supplies on credit2. Borrow $53 from a bank3. Pay $8 owed to a supplierWhat is the final amount in Debt?#3Consider the following account starting balances and transactions involving these accounts.Use T-accounts to record the starting balances and the offsetting entries for the transactions.The starting balance of Cash is $8,400The starting balance of Inventory is $4,200The starting balance of Retained Earnings is $23,5001. Pay expense of $22. Sell product for $40 with historical cost of $323. Sell service for $25What is the final amount in Retained Earnings?#4The T-accounts below summarize transactions of Torche Corporation from February 22 to February 25, 2013:CashBalance14,70012158058PP&E, Net444Accounts ReceivableBalance4,800Balance15,80044Other Assets12Balance900InventoryBalance3,80015Accounts Payable4Balance2,40015DebtBalance3,70058Other LiabilitiesBalance5,000Paid?In CapitalBalance6,00080Retained Earnings12What is the final amount in Total Liabilities & Equity?Balance22,9003#5Stuart CompanyBalance SheetAs of March 11, 2013(amounts in thousands)CashAccounts ReceivableInventoryProperty Plant & EquipmentOther AssetsTotal Assets8,400 Accounts Payable4,700 Debt4,200 Other Liabilities17,200 Total Liabilities2,800 Paid-In CapitalRetained EarningsTotal Equity37,300 Total Liabilities & Equity2,8003,4009007,1006,70023,50030,20037,300Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, andconstruct a balance sheet to answer the question.1. Borrow $52,000 from a bank2. Purchase equipment for $48,000 in cash3. Issue $85,000 in stockWhat is the final amount in Total Assets?Please specify your answer in the same units as the financial statement.#6Lightspeed IndustriesBalance SheetAs of March 11, 2013(amounts in thousands)CashAccounts ReceivableInventoryProperty Plant & EquipmentOther Assets14,100 Accounts Payable3,200 Debt4,900 Other Liabilities16,300 Total Liabilities500 Paid-In Capital1,9003,6002,0007,5007,200Total AssetsRetained EarningsTotal Equity39,000 Total Liabilities & Equity24,30031,50039,000Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, andconstruct a balance sheet to answer the question.1. Issue $80,000 in stock2. Borrow $65,000 from a bank3. Receive payment of $12,000 owed by a customer4. Pay $6,000 owed to a supplier5. Buy $17,000 worth of manufacturing supplies on creditWhat is the final amount in Total Assets?Please specify your answer in the same units as the financial statement.#7Lightspeed IndustriesBalance SheetAs of March 11, 2013(amounts in thousands)CashAccounts ReceivableInventoryProperty Plant & EquipmentOther AssetsTotal Assets14,100 Accounts Payable3,200 Debt4,900 Other Liabilities16,300 Total Liabilities500 Paid-In CapitalRetained EarningsTotal Equity39,000 Total Liabilities & Equity1,9003,6002,0007,5007,20024,30031,50039,000Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, andconstruct a balance sheet to answer the question.1. Sell service for $20,0002. Pay expense of $3,0003. Sell product for $25,000 with historical cost of $20,000What is the final amount in Total Assets?Please specify your answer in the same units as the financial statement.Statement of Cash flows#3Siam Traders had Net Income for 2012 of $9,500,000.The firm invested $1,000,000 in manufacturing equipment during 2012.The equipment is being depreciated over five years using straight-line depreciation, starting in 2012.Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2012with amounts in thousands.What is the Net Cash Flow in 2012?Please specify your answer in the same units as the financial statement.#4Valley Technology had Net Income for 2012 of $9,600,000.The firm invested $5,000,000 in manufacturing equipment during 2011 but made no additional capital investments in2012.The equipment is being depreciated over five years using straight-line depreciation, starting in 2011.Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2012with amounts in thousands.What is the Net Cash Flow in 2012?Please specify your answer in the same units as the financial statement.#5Suppose Siam Traders has the following results related to cash flows for 2012:Net Income of $9,400,000Increase in Accounts Payable of $800,000Decrease in Accounts Receivable of $600,000Decrease in Inventory of $700,000Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts inthousands.What is the Net Cash Flow from Operating Activities?Please specify your answer in the same units as the financial statement.#6Suppose Hopewell Corporation has the following results related to cash flows for 2012:Net Income of $8,000,000Increase in Accounts Payable of $500,000Increase in Accounts Receivable of $700,000Depreciation of $1,300,000Decrease in Inventory of $300,000Other Adjustments from Operating Activities of -$900,000Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts inthousands.What is the Net Cash Flow from Operating Activities?Please specify your answer in the same units as the financial statement.#7Suppose Dansko Integrated has the following results related to cash flows for 2012:Decrease in Debt of $200,000Dividends of $800,000Purchases of Property, Plant, & Equipment of $6,700,000Other Adjustments from Financing Activities of -$600,000Other Adjustments from Investing Activities of $300,000Assuming no other cash flow adjustments than those listed above, create a statement of cash flows for financing andinvesting activities with amounts in thousands.What is the Net Cash Flow from Financing and Investing Activities?Please specify your answer in the same units as the financial statement.#8Suppose Torche Corporation has the following results related to cash flows for 2012:Net Income of $8,500,000Decrease in Accounts Payable of $400,000Increase in Accounts Receivable of $800,000Increase in Debt of $100,000Depreciation Expenses of $1,600,000Purchases of Property, Plant, & Equipment of $5,400,000Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts inthousands.What is the Net Cash Flow?Please specify your answer in the same units as the financial statement.#9Suppose Stuart Company has the following results related to cash flows for 2012:Net Income of $7,700,000Decrease in Accounts Payable of $900,000Decrease in Accounts Receivable of $300,000Decrease in Debt of $600,000Depreciation Expenses of $1,700,000Dividends of $800,000Increase in Inventory of $800,000Purchases of Property, Plant, & Equipment of $7,500,000Other Adjustments from Financing Activities of $300,000Other Adjustments from Investing Activities of $300,000Other Adjustments from Operating Activities of $600,000Create a statement of cash flows with amounts in thousands.What is the Net Cash Flow?Please specify your answer in the same units as the financial statement.

 

Paper#43940 | Written in 18-Jul-2015

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