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Question;T account;#1 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 $3,400;The starting balance of Cash is $9,000;The starting balance of Inventory is $5,100;1. Receive payment of $10 owed by a customer;2. Buy $16 worth of manufacturing supplies for cash;3. Sell product for $40 with historical cost of $40What is the final amount in Cash?;#2 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 Payable is $1,900;The starting balance of Cash is $9,100;The starting balance of Debt is $2,400;The starting balance of Inventory is $4,800;1. Buy $18 worth of manufacturing supplies on credit;2. Borrow $53 from a bank;3. Pay $8 owed to a supplierWhat is the final amount in Debt?;#3 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 Cash is $8,400;The starting balance of Inventory is $4,200;The starting balance of Retained Earnings is $23,500;1. Pay expense of $2;2. Sell product for $40 with historical cost of $32;3. Sell service for $25What is the final amount in Retained Earnings?;#4 The T-accounts below summarize;transactions of Torche Corporation from February 22 to February 25, 2013;Cash;Balance 14,700;44;12;4;15;80;58;PP&E;Net;Balance 15,800;44;Accounts;Payable;4;Balance 2,400;15;Other;Liabilities;Balance 5,000;Accounts;Receivable;Balance 4,800;12;Other Assets;Balance 900;Debt;Balance 3,700;58;Paid-In;Capital;Balance 6,000;80;Inventory;Balance 3,800;12;15;Retained;Earnings;Balance 22,900;3;What is the final amount in Total Liabilities & Equity?;#5;Stuart Company;Balance Sheet;As of March 11, 2013;(amounts in thousands);Cash;8,400;Accounts Payable;2,800;Accounts Receivable;4,700;Debt;3,400;Inventory;4,200;Other Liabilities;900;Property Plant & Equipment;17,200;Total Liabilities;7,100;Other Assets;2,800;Paid-In Capital;6,700;Retained Earnings;23,500;Total Equity;30,200;Total Assets;37,300;Total Liabilities & Equity;37,300;Use;T-accounts to record the transactions below, which occur on March 12, 2013;close the T-accounts, and construct a balance sheet to answer the question.;1. Borrow $52,000 from a bank;2. Purchase equipment for $48,000 in cash;3. Issue $85,000 in stockWhat is the final amount in Total Assets?;Please specify your answer in the same units as the financial statement.;#6;Lightspeed;Industries;Balance Sheet;As of March 11, 2013;(amounts in thousands);Cash;14,100;Accounts;Payable;1,900;Accounts;Receivable;3,200;Debt;3,600;Inventory;4,900;Other;Liabilities;2,000;Property;Plant & Equipment;16,300;Total;Liabilities;7,500;Other;Assets;500;Paid-In;Capital;7,200;Retained;Earnings;24,300;Total;Equity;31,500;Total;Assets;39,000;Total;Liabilities & Equity;39,000;Use T-accounts to;record the transactions below, which occur on March 12, 2013, close the;T-accounts, and construct a balance sheet to answer the question.;1. Issue $80,000 in stock;2. Borrow $65,000 from a bank;3. Receive payment of $12,000 owed by a customer;4. Pay $6,000 owed to a supplier;5. 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.;#7;Lightspeed;Industries;Balance Sheet;As of March 11, 2013;(amounts in thousands);Cash;14,100;Accounts;Payable;1,900;Accounts;Receivable;3,200;Debt;3,600;Inventory;4,900;Other;Liabilities;2,000;Property;Plant & Equipment;16,300;Total;Liabilities;7,500;Other;Assets;500;Paid-In;Capital;7,200;Retained;Earnings;24,300;Total;Equity;31,500;Total;Assets;39,000;Total;Liabilities & Equity;39,000;Use T-accounts to;record the transactions below, which occur on March 12, 2013, close the;T-accounts, and construct a balance sheet to answer the question.;1. Sell service for $20,000;2. Pay expense of $3,000;3. 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;#3 Siam 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 2012 with amounts in thousands.What is the Net Cash Flow in 2012?;Please specify your answer in the same units as the financial statement.;#4 Valley 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 in 2012.;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 2012 with amounts in thousands.What is the Net Cash Flow in 2012?;Please specify your answer in the same units as the financial statement.;#5 Suppose Siam Traders has the;following results related to cash flows for 2012;Net Income of $9,400,000;Increase in Accounts Payable of $800,000;Decrease in Accounts Receivable of $600,000;Decrease in Inventory of $700,000;Assuming no other cash flow adjustments than those listed above, create a;statement of cash flows with amounts in thousands.What is the Net Cash Flow from Operating Activities?;Please specify your answer in the same units as the financial statement.;#6 Suppose Hopewell Corporation has the;following results related to cash flows for 2012;Net Income of $8,000,000;Increase in Accounts Payable of $500,000;Increase in Accounts Receivable of $700,000;Depreciation of $1,300,000;Decrease in Inventory of $300,000;Other Adjustments from Operating Activities of -$900,000;Assuming no other cash flow adjustments than those listed above, create a;statement of cash flows with amounts in thousands.What is the Net Cash Flow from Operating Activities?;Please specify your answer in the same units as the financial statement.;#7 Suppose Dansko Integrated has the;following results related to cash flows for 2012;Decrease in Debt of $200,000;Dividends of $800,000;Purchases of Property, Plant, & Equipment of $6,700,000;Other Adjustments from Financing Activities of -$600,000;Other Adjustments from Investing Activities of $300,000;Assuming no other cash flow adjustments than those listed above, create a;statement of cash flows for financing and investing 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.;#8 Suppose Torche Corporation has the;following results related to cash flows for 2012;Net Income of $8,500,000;Decrease in Accounts Payable of $400,000;Increase in Accounts Receivable of $800,000;Increase in Debt of $100,000;Depreciation Expenses of $1,600,000;Purchases of Property, Plant, & Equipment of $5,400,000;Assuming no other cash flow adjustments than those listed above, create 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.;#9 Suppose Stuart Company has the;following results related to cash flows for 2012;Net Income of $7,700,000;Decrease in Accounts Payable of $900,000;Decrease in Accounts Receivable of $300,000;Decrease in Debt of $600,000;Depreciation Expenses of $1,700,000;Dividends of $800,000;Increase in Inventory of $800,000;Purchases of Property, Plant, & Equipment of $7,500,000;Other Adjustments from Financing Activities of $300,000;Other Adjustments from Investing Activities of $300,000;Other Adjustments from Operating Activities of $600,000;Create 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#44096 | Written in 18-Jul-2015

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