Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 15.00

Shabbona Corporation

Exercise 5-16

A comparative balance sheet forv is presented below.

   

December 31
Assets  

2014

  

2013
Cash   $ 73,000     $ 22,000  
Accounts receivable   82,000     66,000  
Inventory   180,000     189,000  
Land   71,000     110,000  
Equipment   260,000     200,000  
Accumulated Depreciation-Equipment   (69,000 )   (42,000 )
   Total   $597,000     $545,000  
Liabilities and Stockholders' Equity            
Accounts payable   $ 34,000     $ 47,000  
Bonds payable   150,000     200,000  
Common stock ($1 par)   214,000     164,000  
Retained earnings   199,000     134,000  
   Total   $597,000     $545,000  


Additional information:

1.   Net income for 2014 was $125,000.
2.   Cash dividends of $60,000 were declared and paid.
3.   Bonds payable amounting to $50,000 were retired through issuance of common stock.

 

Prepare a statement of cash flows for 2014 for Shabbona Corporation. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

 

Shabbona Corporation
Statement of Cash Flows
For the Year Ended December 31, 2014

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

    

    Purchase of Equipment    Net Income    Decrease in Inventory    Increase in Inventory    Decrease in Accounts Payable    Depreciation expense    Increase in Accounts Payable    Payment of Cash Dividends    Decrease in Accounts Receivable    Sale of Land    Increase in Accounts Receivable    

  

$

Adjustments to reconcile net income to

    

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

    

    Increase in Accounts Payable    Increase in Inventory    Depreciation expense    Decrease in Accounts Payable    Increase in Accounts Receivable    Sale of Land    Net Income    Purchase of Equipment    Decrease in Accounts Receivable    Payment of Cash Dividends    Decrease in Inventory    

$

  

    Sale of Land    Net Income    Increase in Inventory    Decrease in Accounts Payable    Increase in Accounts Payable    Depreciation expense    Increase in Accounts Receivable    Purchase of Equipment    Payment of Cash Dividends    Decrease in Accounts Receivable    Decrease in Inventory    

 

    Sale of Land    Increase in Accounts Payable    Increase in Inventory    Decrease in Accounts Receivable    Decrease in Inventory    Purchase of Equipment    Payment of Cash Dividends    Decrease in Accounts Payable    Net Income    Depreciation expense    Increase in Accounts Receivable    

  

    Decrease in Inventory    Payment of Cash Dividends    Depreciation expense    Increase in Inventory    Increase in Accounts Payable    Net Income    Increase in Accounts Receivable    Decrease in Accounts Payable    Sale of Land    Decrease in Accounts Receivable    Purchase of Equipment    

 
   

    Cash at Beginning of Year    Cash at End of Year    Cash Flows from Financing Activities    Cash Flows from Investing Activities    Cash Flows from Operating Activities    Net Cash Provided by Financing Activities    Net Cash Provided by Investing Activities    Net Cash Provided by Operating Activities    Net Cash Used by Financing Activities    Net Cash Used by Investing Activities    Net Cash Used by Operating Activities    Net Decrease in Cash    Net Increase in Cash    Noncash Investing and Financing Activities    

  

     

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

    

    Decrease in Accounts Receivable    Decrease in Inventory    Depreciation expense    Increase in Accounts Receivable    Decrease in Accounts Payable    Net Income    Increase in Inventory    Increase in Accounts Payable    Sale of Land    Purchase of Equipment    Payment of Cash Dividends    

 

    Sale of Land    Increase in Accounts Receivable    Decrease in Accounts Payable    Decrease in Inventory    Decrease in Accounts Receivable    Depreciation expense    Increase in Accounts Payable    Purchase of Equipment    Net Income    Increase in Inventory    Payment of Cash Dividends    

 

    Cash at Beginning of Year    Cash at End of Year    Cash Flows from Financing Activities    Cash Flows from Investing Activities    Cash Flows from Operating Activities    Net Cash Provided by Financing Activities    Net Cash Provided by Investing Activities    Net Cash Provided by Operating Activities    Net Cash Used by Financing Activities    Net Cash Used by Investing Activities    Net Cash Used by Operating Activities    Net Decrease in Cash    Net Increase in Cash    Noncash Investing and Financing Activities    

  

     

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

    

    Decrease in Accounts Receivable    Decrease in Inventory    Sale of Land    Purchase of Equipment    Net Income    Payment of Cash Dividends    Decrease in Accounts Payable    Increase in Accounts Payable    Depreciation expense    Increase in Accounts Receivable    Increase in Inventory    

  

     

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

  

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

  

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

  

$
     

Cash at Beginning of YearCash at End of YearCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in CashNoncash Investing and Financing Activities

    

      Issued common stock to retire $ of bonds outstanding

 

Determine Shabbona CorporationAc€?cs current cash debt coverage ratio, cash debt coverage ratio, and free cash flow. (Round ratios to 2 decimal places., e.g. 0.67.)

Current cash debt coverage ratio  

:1
Cash debt coverage ratio  

:1
Free cash flow  

$

  

Comment on its liquidity and financial flexibility.
Shabbona has excellentpoor liquidity. Its financial flexibility is worsegood.

     

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 07:08 PM My Price 15.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions