ACCT-110 Lecture Notes - Lecture 1: Cash Flow Statement, Retained Earnings, Cash Flow

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rosemuskrat747

7 Nov 2017

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Income statement: measures the revenue, cost & income over a period of time (can be a day, month, quarter, year). Balance sheet: measures the value of assets, liabilities, owners equity at a point in time. (usually the last day of the time period for which the income statement is prepared). Assets = cash, accounts receivable, notes receivable, capital assets (land, Liabilities = accounts payable, notes payable, taxes payable, wages payable. Owners equity = contributed capital (common stock), retained earnings. Cash flow statement: measures the cash flow of the company over a period of time (usually the same time period as the income statement). Measures the cumulative net income retained after paying dividends (if any) at a point in time (usually the last day of the time period for which the income statement is prepared).

Related Questions

Use the data from the following financial statements in thepopupâ window, LOADING... . The company paid interest expense of$18,500 for 2014 and had an overall tax rate of 40% for 2014. Findthe cash flow from assets forâ 2014, and break it into its threeâparts: operating cashâ flow, capitalâ spending, and change in networking capital.

ata Table

Partial Income Statement Year Ending 2014
Sales revenue	$350,200
Cost of goods sold	$141,800
Fixed costs	$43,100
Selling, general, and administrative expenses	$28,000
Depreciation	$45,800

Partial Balance Sheet 12/31/2013
ASSETS		LIABILITIES
Cash	$15,800	Notes payable	$13,900
Accounts receivable	$27,900	Accounts payable	$19,100
Inventories	$47,900	Long-term debt	$190,000
Fixed assets	$368,000	OWNERS' EQUITY
Accumulated depreciation	$143,600	Retained earnings
Intangible assets	$82,000	Common stock	$132,000

Partial Balance Sheet 12/31/2014
ASSETS		LIABILITIES
Cash	$26,100	Notes payable	$12,100
Accounts receivable	$19,200	Accounts payable	$24,200
Inventories	$52,800	Long-term debt	$162,100
Fixed assets	$448,100	OWNERS' EQUITY
Accumulated depreciation		Retained earnings
Intangible assets	$82,000	Common stock	$182,000

yellowkoala529

Help! I have tried and tried and can't figure this one out!

Use the data from the following financial statements.

The company paid interest expense of $18,300 for 2014 and had anoverall tax rate of 40% for 2014. Complete the statement ofretained earnings for? 2014, and determine the dividends paid lastyear.

1) The distributed earnings is ?$ _________ <<< How onearth do I figure this out.

Partial Income Statment Year Ending 2014
Sales Revenue	$349,800
Cost of good sold	$141,900
Fixed Cost	$43,200
Selling, general, and administrative expense	$28100
Depreciation	$46, 200

Patial Balance Sheet 12/31/2013
Assests		Liabilities
Cash	$16100	Notes Payable	$14,200
Accounts Receivable	$28,200	Accounts Payable	$18900
Inventories	$48,100	Long Term Debt	$190,200
Fixed Assets	$367,900	Owners Quity
Accumulated Depreciation	$140,700	Retained Earnings
Intangible Assets	$81,900	Common Stock	132,000

Partial Balance Sheet 12/31/2014
Assets		Liabilities
Cash	$26,000	Notes Payable	$11,900
Accounts Receivable	$18900	Account Payable	$24,000
Inventories	$53,100	Long term Debt	$161800
Fixed Assets	$446,800	Owners Equity
Accumulated depreciation		Retained earnings
Intangible assets	$82,200	Common Stock	$182,000

Hillside,Inc.

BALANCE SHEET					INCOME STATEMENT
($ in millions)					($ in millions)

ASSETS		LIABILITIES			Revenue	28,681.10
Cash & Marketable Securities	449.90	Accounts Payable	1,611.20		Cost Of Goods Sold	20,768.80
Accounts Receivable	954.80	Salaries Payable	225.20		Gross Profit	7,912.30
Inventories	3,645.20	Other Current Liabilities	1,118.80
Other Current Assets	116.60	Total Current Liabilities	2,955.20		Operating Expenses:
Total Current Assets	5,166.50				Selling, General & Admin.	5,980.80
		Other Liabilities	693.40		Depreciation	307.30
Machinery & Equipment	1,688.90				Operating income	1,624.20
Land	1,129.70	Total Liabilities	3,648.60
Buildings	2,348.40				Interest	-
Depreciation	(575.60)	SHAREHOLDER'S EQUITY			Other Expense (Income)	(13.10)
Property, Plant & Equip. - Net	4,591.40	Common Stock	828.50		Income Before Taxes	1,637.30
Other Long Term Assets	120.90	Retained Earnings	5,401.70		Income Taxes	618.10
Total Long-Term Assets	4,712.30	Total Shareholder's Equity	6,230.20		Net Income	1,019.20

Total Assets	9,878.80	Total Liabilities & Equity	9,878.80
					Number of Common Stock
					Shares Outstanding	1,032,271


		Input Answers Below		Financial Performance Summary
LIQUIDITY RATIOS
Current Ratio (times)
Quick Ratio (times)
Average Payment Period (days)

ASSET MANAGEMENT RATIOS
Total Asset Turnover (times)
Average Collection Period (days)
Inventory Turnover (times)

FINANCIAL LEVERAGE RATIOS
Total Debt to Total Assets
Equity Multiplier (times)

PROFITABILITY RATIOS
Operating Profit Margin
Net Profit Margin
Return on Total Assets
Return on Equity
Earnings per Share

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ACCT-110 Lecture Notes - Lecture 1: Cash Flow Statement, Retained Earnings, Cash Flow

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