Question

a comparative balance sheet for ALPHAinc at December 31,2017 is shown below. 2017 2016 Change cash...

a comparative balance sheet for ALPHAinc at December 31,2017 is shown below.

2017 2016 Change

cash 30,000 35,000 -5,000   

accounts receivable 55,000 45,000 10,000

inventory 65,000 45,000 20,000

preppaid expense 15,000 25,000 -10,000

land 70,000 40,000 30,000

right of use of asset 100,000 0 100,000

equipment 90,000 75,000 15,000

accumulated depreciation -18,000 -8,000 -10,000

total 407,000 257,000 150,000

Accounts payable 65,000 52,000 13,000

accrued expense 15,000 18,000 3,000

notes payable 0 23,000 -23,000

bonds payable 30,000 0 30,000

lease liability 100,000 0 100,000

common stock($10par) 189,000 159,000 30,000

retained earnings 8,000 5,000 3,000

Total Liabilities and equity 407,000 257,000 150,000

Additional information and events:

a. land was acquired for $30,000 in exchange for common stock

b. equipment purchase was for cash

c. equipment costing $13,000 was sold for $3,000 the book value of this equipment was $ 6,000

d. Alpha entered in to a financial lease for an office building on december 31,2017 that the fair value was equal to the lease liability. the initial payment is due in january of 2018

e. cash dividends of $2,000 were declared and paid during the year.

f. net income was $5,000

***please provide a cash flows for operating and investing and financial....

Business   Accounting   
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Answer #1
CASH FLOW STATEMENT
Particulars Amount Amount
CASH FLOW FROM OPERATING ACTIVITIES
Net Income 5000
Add:
Depreciation 10000
Loss on Sale of Equipment 3000
Net Income before Depreciation & Extraordinary Item 18000
Add/(Less):
Increase in Accounts Receivable -10000
Increase in Inventory -20000
Decrease in Prepaid Expenses 10000
Increase in Accounts Payable 13000
Decrease in Accrued Expenses -3000
Net Cash flow/ (outflow) from Operating Activity 8000
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of Equipment -21000
(75000-6000-90000)
Sale of Equipment 3000
Net Cash flow/ (outflow) from Investing Activity -18000
CASH FLOW FROM FINANCING ACTIVITIES
Decrease in Notes Payable -23000
Issue of Bonds 30000
Dividend Paid -2000
Net Cash flow/ (outflow) from Financing Activity 5000
Net Cash flow/ (outflow) from All Activity -5000
Cash at the begining of the year 35000
Cash at the End of the year 30000
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