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BE5-1 BE5-6 BE5-10 BE5-12

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BE5-1 BE5-6 BE5-10 BE5-12 BE5-13 BE5-14 BE5-15

BE5-1 Harding Corporation has the following accounts included in its December 31, 2012, trial balance: Accounts Receivable $110,000; Inventory $290,000; Allowance for Doubtful Accounts $8,000; Patents $72,000; Prepaid Insurance $9,500; Accounts Payable $77,000; Cash $30,000. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence.

BE5-6 Patrick Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2012: Prepaid Rent $12,000; Goodwill $50,000; Franchise Fees Receivable $2,000; Franchises $47,000; Patents $33,000; Trademarks $10,000. Prepare the intangible assets section of the balance sheet.

BE5-10 Hawthorn Corporation’s adjusted trial balance contained the following accounts at December 31, 2012: Retained Earnings $120,000; Common Stock $750,000; Bonds Payable $100,000; Paid-in Capital in Excess of Par—Common Stock $200,000; Goodwill $55,000; Accumulated Other Comprehensive Loss $150,000. Prepare the stockholders’ equity section of the balance sheet.

BE5-12 Keyser Beverage Company reported the following items in the most recent year.

Net income   40,000
Dividends paid   5,000
Increase in accounts receivable   10,000
Increase in accounts payable   7,000
Purchase of equipment (capital expenditure)   8,000
Depreciation expense   4,000
Issue of notes payable  20,000

Compute net cash provided by operating activities, the net change in cash during the year, and free cash flow.

BE5-13 Ames Company reported 2012 net income of $151,000. During 2012, accounts receivable increased by $13,000 and accounts payable increased by $9,500. Depreciation expense was $44,000. Prepare the cash flows from operating activities section of the statement of cash flows.

BE5-14 Martinez Corporation engaged in the following cash transactions during 2012.

Sale of land and building  $191,000
Purchase of treasury stock  40,000
Purchase of land  37,000
Payment of cash dividend  95,000
Purchase of equipment  53,000
Issuance of common stock  147,000
Retirement of bonds  100,000


Compute the net cash provided (used) by investing activities.

BE5-15 Martinez Corporation engaged in the following cash transactions during 2012.
Sale of land and building  $191,000
Purchase of treasury stock  40,000
Purchase of land  37,000
Payment of cash dividend  95,000
Purchase of equipment  53,000
Issuance of common stock  147,000
Retirement of bonds  100,000
Determine Martinez's free cash flow, assuming that it reported net cash provided 
by operating activities of 400,000

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