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23C Study Guide - Final Guide: Cooperative Banking, International Co-Operative Alliance, Alternative Financial Service

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salyvm
26 Jan 2023
School
Bharathiar University
Department
Business
Course
23C
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Related Questions

***URGENT*** please solve and provide both statements of cash flows for me. Disregard the answers that I have. Please help very urgent

The following changes took place last year in Pavolk Corpary's balance sheet accounts:

D = Decrease    I = Increase. 
 
Long-term investment's that cost the company $ 21 were sold during the year for $ 46 and land that cost $ 45 was sold for $24. In addition, the company declared and paid $ 18 in cash dividends during the year. Besides the sole of land, no other sales or retirements of plant and equipment took place during the year. Pavolk did not retire any bonds during the year or issue any new common stock.
 
The company's income statement for the year follows:
 
 
The comparty's beginning cash balance was $ 128 and its ending balance was $ 108.
 
Required:
1. Use the indirect method to determine the net cash provided by operating activities for the year.
2. Prepare a statement of cash flows for the year
 
Required 1
Use the indirect method to determine the net cash provided by operating activities for the year. (Adjustment amounts that are to be deducted should be indicated with a minus sign.)
 
Pavolik Company
 Statement of Cash Flows (partial)
 Net income    $     100
 Adjustments to convert net income to a cash basis:    
Depression $      82  
Loss on sale of land 21  
Gain on sale of long-term investments (25)  
     
Increase in accounts receivable (24)  
Decrease in inventory 58  
Increase in prepaid expenses (19)  
Increase in accounts payable 62  
Decrease in accrued liabilities           (24)  
Increase in income taxes payable   131
 Net cash provided by operating activities    $  231
 
Required 2
      Prepare a statement of cash flows for the year. (List any deduction in cash and cash outflows as negative amounts.)
 
Pavolik Company
 Statement of Cash Flows 
 Operating activities:    
 Net cash provided by operating activities        $   231
 Investing activities:    
 Proceeds from sale of long-term investments    
 Proceeds from sale of land           24  
 Additions to property, plant & equipment    
     
 Net cash used in investing activities           24
 Financing activities:    
 Issuance of bonds payable    
 Purchase of common stock    
 Cash dividends    
     
 Net cash provided by financing activities             0
 Net decrease in cash           255
 Beginning cash and cash equivalents    
 Ending cash and cash equivalents       $  255
 
 

URGENT: please solve. All information and directions are there

A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: 

Members of the company's board of directors are surprised to see that net income increased by only $ 233,000 when sales increased by $ 1,752,000.
 
Required:
1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
 
     This Year       Last Year 
 Sales    %   %
 Cost of goods sold   %   %
 Gross Margin 0.00 % 0.00 %
 Selling and administrative expenses:        
       Selling expenses    %   %
       Administrative expenses   %   %
 Total selling and administrative expenses 0.00 % 0.00 %
 Net operating income 0.00 % 0.00 %
 Interest expense   %   %
 Net income before taxes  0.00 % 0.00 %
 

**URGENT** please answer. Directions are there……

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue ary new common stock during the year, A total of 600,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40 %, and the dividend per share of common stock was $ 0.75 lost are and account. $ 0.40 this year. The market value of the company's common stock at the end of this year was $28. All of the company's sales are on account.

Required:
Compute the following financial data for this year:
1. Accounts receivable turnover. (Assume that all sales are on account.) (Round your answer to 2 decimal places.)
2. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.)
3. Inventory turnover. (Round your answer to 2 decimal places.)
4. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 2 decimal places.)
5. Operating Cycle. (Round your intermediate calculations and final answer to 2 decimal places.)
6. Total asset turnover. (Round your answer to 2 decimal places.)
 
1. Accounts receivable turnover.    
2. Average collection period.     days
3. Inventory turnover.    
4. Average sale period.     days
5. Operating Cycle.     days
6. Total asset turnover.