Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Jul 2017 My Price 8.00

Aero Inc

Aero Inc. had the following balance sheet at December 31, 2011.

During 2012, the following occurred.
1. Aero liquidated its available-for-sale investment portfolio at a loss of $5,000.
2. A tract of land was purchased for $38,000.
3. An additional $30,000 in common stock was issued at par.
4. Dividends totaling $10,000 were declared and paid to stockholders.
5. Net income for 2012 was $35,000, including $12,000 in depreciation expense.
6. Land was purchased through the issuance of $30,000 in additional bonds.
7. At December 31, 2012, Cash was $70,200, Accounts Receivable was $42,000, and Accounts Payable was $40,000.
Instructions
(a) Prepare a statement of cash flows for the year 2012 for Aero.
(b) Prepare the balance sheet as it would appear at December 31, 2012.
(c) Compute Aero’s free cash flow and the current cash debt coverage ratio for 2012.
(d) Use the analysis of Aero to illustrate how information in the balance sheet and statement of cash flows helps the user of the financialstatements.

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Jul 2017 02:07 PM My Price 8.00

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