You have been hired by J. Smith, a successful entrepreneur, to assist in analyz- ing the balance sheet for his two-year-old hotel, the Chicago Inn. The follow- ing are the condensed balance sheets of the Chicago Inn. Chicago Inn Condensed Balance Sheets December 31, 20X1 and 20X2 Cash Accounts Receivable Inventory Property and Equipment (net) Other Assets Total Assets Accounts Payable Wages Payable Current Maturities-LTD Long-Term Debt Total Liabilities Owner's Equity Total Liabilities and Owner's Equity 20X1 $ 30,000 190,000 30,000 1,400,000 200,000 $1,850,000 $ 140,000 10,000 50,000 1,000,000 1,200,000 650,000 $1,850,000 20X2 $ 40,000 225,000 35,000 1,500,000 100,000 $1,900,000 19 $ 135,000 15,000 50,000 1,000,000 1,200,000 700,000 $1,900,000 Required: 1. What was the change in cash during 20X2? 2. What were the total current assets at the beginning of 20X1?
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- Using the stylized balance sheet below, please 1) finish the balance sheet, and 2) use that information to answer the following question, entering your answer in the place provided. Avg. Avg. Amount Amount Interest Interest Demand Vault Cash $1,573 $1,123 Deposits US Treas. Savings 3.43% 2,212 3.02% 8,497 Securities Deposits Consumer/Bus. 8.23% 15,315 CD's 3.54% ???? Loans Mortgage 6.82% 8,719 Borrowings 3.10% 2,747 Loans Property 2,032 Equity 3,423 Equipment Total Liab.& Total Assets ???? ???? Equity What is the net interest income the this bank? (Please enter the answer to the nearest penny!) ed 39,211.64 ver 1,091.41 margin of error +/- 1View Policies Show Attempt History Current Attempt in Progress Sheridan Inc. owns these assets at the statement of financial position date: Cash in bank (savings account) $20,240 Cash on hand 1,540 Prepaid insurance 1.840 Cash in bank (chequing account) 12,880 Postdated cheques received from customers 920 (a) Your answer is correct. What amount should be reported as cash and cash equivalents in the statement of financial position? Cash 34660 eTextbook and Media Attempts: 1 of 3 usedView Policies Current Attempt in Progress Sheridan Inc. owns these assets at the statement of financial position date: Cash in bank (savings account) $20,240 Cash on hand 1,540 Prepaid insurance 1.840 Cash in bank (chequing account) 12,880 Postdated cheques received from customers 920 (a) What amount should be reported as cash and cash equivalents in the statement of financial position? Cash $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
- of 5 ok t ! Required information Exercise 12-10A (Algo) Determining cash flows from investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Exercise 12-10A (Algo) Part a Year 2 $ 102,100 527,300 143,500 Year 1 $ 112,700 Other information drawn from the accounting records: 1. Delsey incurred a $1,300 loss on the sale of investment securities during Year 2. 2. Old machinery with a book value of $4,070 (cost of $25,390 minus accumulated depreciation of $21,320) was sold. The income statement showed a gain on the sale of machinery of $4,220. 3. Delsey did not sell land during the year. Amount of cash flow 427,100 98,000 Required a. Compute the amount of cash flow associated with the sale of investment securities. S hwww.downloadslide.net 44 1 Accounting in Action Instructions (a) Show the effects of the previous transactions on the accounting equation using the following format. (a) Total assets £25,800 Equity Retained Eanings Rev. Liabilitics Assets Notes Accounts Share Accounts Date Cash + Receivable + Supplies + Equipment- Payable Payable Capital Exp. Div. . Include margin explanations for any changes in the Retained Earmings account in your analysis. (b) Prepare an income statement for the month of June. (c) Prepare a statement of financial position at June 30, 2017. (b) Net income £4,450 () Cash £8,100 P1-5A Financial statement information about four different companies is as follows. Delermine fonancial statement amounts and prepare retained earnings statement. Crosby Company Stills Company Nash Company Young Company (LO 7, 8) January 1, 2017 Assets Liabilities HK$ 900,000 HK$1,100,000 (d) 500,000 HK$1,500,000 650,000 (a) (g) HKS 750,000 450,000 1,000,000 Equity December 31, 2017 Assets…exercise for finance acc.pdf O File | C:/Users/User/Desktop/FIN%20ACC/exercise%20for%20finance%20acc.pdf D Page view A Read aloud T Add text V Draw E Highlight O Erase of 4 EXERCISES For questions number 1 to 7, given the accounting transaction, indicate whether the asset, liability or owner's equity has increase or decrease or has no effect by circling the appropriate answer. 1 The owner invests personal cash in the business. (Example) Asset Increase Decrease No Effect Liability Increase Decrease No Effect Owner's Equity Increase Decrease No Effect 2 The owner withdraws cash from the business for personal use. Asset Increase Decrease No Effect Liability Increase Decrease No Effect Owner's Equity Increase Decrease No Effect 3 The company receives cash from a bank loan Asset Increase Decrease No Effect 5:29 PM O Type here to search IMI 26/10/2021 ENG
- Courses =HCS380 Week 1 Terminology Matching Accounts Receivable Terminology Matching Note Payable Bonds Payable Common Stock Income Statement Balance Sheet Retained Earnings Statement Statement of Cash Flow Basic Accounting Equation multimedia.phoenix.edu Annual Report View Assessment HCS/380: Week 1 - Terminology Matching - Academic Resources Owed to a bank for the money borrowed Bill customer/patient for services HCS Debt securities sold to investors that must be repaid at a particular date in the future A AOL PASSV REQUIRED Enter your password for "kaylakı Accounts. Prepared by corporate management to present financial information, management discussion, notes, and auditor's report Used by creditors to determine if they will be paid Assets Liabilities+Stockholder's Equity Used by creditors and investors to analyze the organization's cash position Used by investors to evaluate the organization's history of paying high dividends The total amount paid in by stockholders for the share…Refer to the information provided in Table below to answer the question(s) that follow. Table First Charter Bank Assets Select one: O Reserves $800 Loans $400 Total $1,200 Refer to Table First Charter Bank's total assets are Liabilities a. $800. b. $400. C. $2,400 d. $1,200. Deposits Net Worth Total1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
- V1 Question: Develop a pro forma statement of cash flow for West Office Plaza. The information given to you is listed below. Property Information: WEST OFFICE Rentable Area 334,000 square feet Age 8 years Number of Stories 15 Number of Tenants 40 Financial Information: Base Rent Average $ 20 per square feet Other Income/Parking/Storage $ 3.20 per square feet Expenses Recoverable from Tenants $ 4.20 per square feet Current Vacancy 5% Expenses: Management/Administration/Security/Ownership $ 698,400 Property Taxes $ 683,500 Insurance $ 433,400 General Operations/Leasing Expense/Marketing $ 675,500 Utilities $ 1,167,600 Janitorial/Cleaning $ 497,500 Business Taxes $ 118,500 Other: Recurring CAPEX/Improvement Allowance $ 708,500CengageNOWv2 |0 X Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X + Home .com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false D) eBook Calculator Brief Exercise 11-30 (Algorithmic) Determining Net Cash Flow from Investing Activities Orlando Inc. reported the following information: 12/31/2019 12/31/2018 Furniture $46,000 $32,000 Accumulated depreciation 15,900 12,500 Investment (long-term) 38,000 50,000 In addition, Orlando sold furniture costing $29,400 with accumulated depreciation of $16,170 for $15,350. Orlando also reported a $1,100 gain on the sale of long-term investments. Required: Compute net cash flow from investing activities. Use a minus sign to indicate negative cash flows (outflows). Feedback Check My Work Set up T-accounts to determine activity in the furniture account. Recreate the journal entry to determine the cash flow related to the long-term investment ac 6:22 PM >) 4/29/2020 DELL PrtScr…zto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Fmhe er 13 Assignment i Exercise 13-12A (Algo) Using a T-account to determine cash flow from operating activities LO 13-1 O River Company began the accounting period with a $63,000 debit balance in its Accounts Receivable account. During the accounting period, River Company earned revenue on account of $340,800. The ending Accounts Receivable balance was $72,200. Book Mc Graw Hill Search ! 1 Q A X Required Based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (Hint: Use a T-account for Accounts Receivable. Enter the debits and credits for the given events, and solve for the missing amount.) Cash inflow from operating activities F1 2 4x W S F2 4, # 3 E D F3 4) $ 4 F4 R FL DII % 5 F5 T G PrtScn J F8 * 8 Home F9 9 K End O F10 ) 0 PgUp FI P -