I need the following accounting questions answered. Word document attached.

Jun 27th, 2015
DreamIt
Category:
Accounting
Price: $30 USD

Question description

questions.docx 

1.   AJAR Corporation reported the following information for the current year:

  (1)  Net income is $102 million.

  (2)  Purchases of equipment were $47 million.

  (3)  Customer accounts receivable decreased by $18 million.

  (4)  Dividends paid to common shareholders were $10 million.

  (5)  Depreciation expense was $39 million.

  (6)  Income tax payable increased by $5 million.

  (7)  Long-term debt decreased by $40 million.

  (8)  Accounts payable increased by $16 million.

  (9)  Inventories increased by $28 million.

Required:  Based on the above information, calculate the following items:

a.  Cash flow from operating activities.

b.  Cash flow from investing activities.

c.  Cash flow from financing activities.

d.  The increase or decrease in the cash balance.

2.  Prepare the statement of cash flows for Brindley Company using the indirect method.

Brindley Company

Income Statement

For the Year Ended December 31, 2012

  Revenues  $8,500

  Depreciation expense  $  800

  Other operating expenses    6,100   6,900

  Income before income taxes  $1,600

  Interest expense    850

  Income tax expense    300

  Net income  $  450

Brindley Company

Balance Sheet

December 31, 2012 and 2011

    2012    2011  2012     2011

Assets:  Liab. & SE:

Cash  $   650  $  130  A/P  $  520  $  500

A/R    770    610  Inc.Taxes/Pay.  270    280

Inventories    835    870  LT debt    415    250

Plant & Equip.    3,450    2,870  Common Stock  1,260  1,260

Less: Acc. Depr.  (1,690)    (890)  Retained Earnings  1,550     1,300

Total Assets  $4,015  $3,590  Total Liab. & SE  $4,015  $3,590


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