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, 5 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 20 Aug 2017 My Price 12.00

Shasta Inc.

Statement of cash flows—indirect  method

 

List the errors you find in the following statement of cash flows. The cash balance at the beginning of the year was $240,000. All other amounts are correct, except the cash balance at the end of the   year.

 

Shasta Inc.

 

Statement of Cash Flows

 

For the Year Ended December 31, 2016

 

 

Cash  flows  from  operating activities:

 

 

 

Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Adjustments  to  reconcile  net  income  to net

$360,000

 

cash  flow  from  operating activities:

Depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

100,800

 

Gain on sale of investments . . . . . . . . . . . . . . . . . . . . . . . . . . .

17,280

 

Changes in current operating assets and liabilities:

 

 

Increase in accounts receivable. . . . . . . . . . . . . . . . . . . . .  .

27,360

 

Increase in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(36,000)

 

Increase in accounts payable . . . . . . . . . . . . . . . . . . . . . . .  .

(3,600)

 

Decrease in accrued expenses payable . . . . . . . . . . . . . . .

      (2,400)

 

Net cash flow from operating activities . . . . . . . . . . . . . . . . . . .

 

$ 463,440

 

Cash  flows  from  investing activities:

 

 

 

Cash received from sale of investments . . . . . . . . . . . . . . . . . . .

Less: Cash paid for purchase of land . . . . . . . . . . . . . . . . . . . . . .

 

$259,200

$240,000

 

Cash paid for purchase of equipment . . . . . . . . . . . . . . . .

  432,000

  691,200

Net cash flow used for investing activities . . . . . . . . . . . . . . . . .

Cash  flows  from  financing activities:

 

 

(415,200)

Cash received from sale of common stock . . . . . . . . . . . . . . . . .

 

$312,000

 

Cash paid for dividends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

  132,000

 

Net cash flow from financing activities . . . . . . . . . . . . . . . . . . . .

 

 

  180,000

Increase in cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

 

$  47,760

Cash at the end of the year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

 

192,240

Cash at the beginning of the year. . . . . . . . . . . . . . . . . . . . . . . . . . . .

 

 

$240,000

 

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 08:08 PM My Price 12.00

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)