Accounting problems please help

SoccerBoss
Category:
Accounting
Price: $25 USD

Question description

1.  Prepare in proper form the stockholders' equity section of the balance sheet from the following selected accounts and balances taken from the adjusted trial balance of Cooper Corporation as of December 31, 20x5.

17 Points.

Partial Adjusted Trial Balance

Account

Debit

Credit

Common Stock—$10 par value, 200,000 shares authorized, 110,000 shares issued and outstanding

1,100,000

Preferred Stock—$100 par value, 9 percent cumulative, 40,000 shares authorized, 8,000 shares issued and outstanding

800,000

Additional Paid-in Capital, Preferred

30,000

Additional Paid-in Capital, Common

800,000

Retained Earnings

180,000

2.  The following 20x5 information relates to Taylor, Inc.: 8 points each.

Net Income

$365,000

Depreciation Expense

96,000

Amortization of Intangible Assets

11,000

Beginning Accounts Receivable

420,000

Ending Accounts Receivable

439,000

Beginning Inventory

516,000

Ending Inventory

560,000

Beginning Prepaid Expenses

48,000

Ending Prepaid Expenses

42,000

Beginning Accounts Payable

119,000

Ending Accounts Payable

146,000

Purchase of Long-Term Assets for Cash

616,000

Cash from Issuance of Long-Term Debt

200,000

Issuance of Stock for Cash

160,000

Issuance of Stock for Long-Term Assets

110,000

Purchase of Treasury Stock

64,000

Sale of Long-Term Investment at Cost

39,000

a. Calculate the net cash flows from operating activities. Show your work.

b. Calculate the net cash flows from investing activities. Show your work.

c. Calculate the net cash flows from financing activities. Show your work.

d. Calculate the net change in cash. Show your work. 


Tutor Answer

(Top Tutor) Daniel C.
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School: University of Virginia
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