Question

Balance Sheets for the Years Ending Dec. 31, 2011 and 2012 2011 2012 Cash            300...

Balance Sheets for the Years Ending Dec. 31, 2011 and 2012
2011 2012
Cash            300            400
Accounts receivable        1,000        1,400
Inventories        3,200        3,000
Current assets        4,500        4,800
Net fixed assets        3,800        4,300
Total assets        8,300        9,100
Notes payable            400            300
Accounts payable            700            500
Accruals              50              80
Current portion of long-term debt              70              80
Current liabilities        1,220            960
Long-term debt        4,300        4,900
Common stock ($.20 par)        1,200        1,300
Additional paid-in capital            680            740
Retained earnings            900        1,200
Total liabilities and equity        8,300        9,100

Net income (as reported on the 2012 Income statement) = 548

Depreciation (as reported on the 2012 Income statement) = 197

Net Cash Flow from Financing Activities = __________

INPUT YOUR ANSWER WITHOUT A DOLLAR SIGN AND WITHOUT ANY COMMAS. IF YOU MEAN FOR YOUR ANSWER TO INDICATE A CASH INFLOW, ENTER THE ANSWER ONLY (for example, enter a cash inflow of $1,000 as 1000). IF YOU MEAN FOR YOUR ANSWER TO INDICATE A CASH OUTFLOW, PUT A NEGATIVE SIGN BEFORE YOUR ANSWER - DO NOT ENTER A SPACE BETWEEN THE NEGATIVE SIGN AND THE NUMBER (for example, enter a cash outflow of $1,200 as -1200)

Momber's Flooring Company
2011 2012
Cash            500 800
Accounts receivable        1,400        1,200
Inventory        3,900        4,400
Net fixed assets        8,200        8,200
Land        1,000        2,000
Total Assets      15,000      16,600
        
Notes payable        1,000            600
Accounts payable        3,000        2,000
Accruals            500            900
Long-term debt        3,600        5,400
Common Stock        2,500        2,200
Retained earnings        4,400        5,500
Total Liabilities and Equity      15,000      16,600

Given the Balance Sheets for Momber's Flooring Company above for the years ending December 31, 2011 and 2012, find Net Cash Flows from Operating Activities for 2012 assuming the following income statement data:

Net income (2012) = $4,045 and Depreciation (2012) = $883

Round your answer as a whole number and record without a dollar sign and without commas. For example, record $3,204.854 as 3205. To show a negative cash flow (i.e., a net cash outflow), place a negative sign before your answer with no space between the negative sign and the number. Thus, record negative 5,432 as -5432.

Homework Answers

Answer #1

1:

Cash from financing activities

Increase in long term debt = 4900-4300 = 600 (Cash inflow)

Increase in common stock = 1300-1200 = 100 (Inflow)

Increase in additional paid in capital = 740-680= 60 (Inflow)

Payment of dividend = - (Net Income - (closing retained earnings- opening retained earnings ))

= - (4045- (5500-4400)) = -2945

Total cash from financing activities = $ -2185

2:

Operating Cash flows 3628
Net Income 4045
Adjustments
Depreciation 883
Decrease in receivables 200
Increase in inventories -500
Decrease in notes payables -400
Decrease in accounts payables -1000
Increase in accruals 400
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