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Category Prior Year Current Year Accounts payable 3,124.00 5,922.00 Accounts receivable 6,816.00 9,008.00 Accruals 5,654.00 6,065.00...

Category Prior Year Current Year
Accounts payable 3,124.00 5,922.00
Accounts receivable 6,816.00 9,008.00
Accruals 5,654.00 6,065.00
Additional paid in capital 20,365.00 13,826.00
Cash ??? ???
Common Stock 2,850 2,850
COGS 22,321.00 18,647.00
Current portion long-term debt 500 500
Depreciation expense 955.00 1,005.00
Interest expense 1,299.00 1,165.00
Inventories 3,042.00 6,657.00
Long-term debt 16,919.00 22,996.00
Net fixed assets 75,945.00 73,934.00
Notes payable 4,011.00 6,550.00
Operating expenses (excl. depr.) 19,950 20,000
Retained earnings 35,971.00 34,487.00
Sales 46,360 45,487.00
Taxes 350 920

What is the firm's total change in cash from the prior year to the current year?

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Answer #1

Cash = Total assets - Net fixed assets - Accounts Receivable - Inventories

Where Total assets = Total liabilities + Total equity = Accounts payable + Accruals + Current portion of long-term debt + Notes payable + Long-term debt + Common stock + retained earning + additional paid in capital

So for current years,

=> Total assets = 5922 + 6065 + 500 + 6550 + 22996 + 2850 + 34487 + 13826 = $93196

=> Cash = 93196 - 73934 - 9008 - 6657 = $3597

For prior year,

Total assets = 3124 + 5654 + 500 + 4011 + 16919 + 2850 + 35971 + 20365 = $89394

=> Cash = 89394 - 75945 - 6816 - 3042 = $3591

total change in cash the prior year to current year = 3597 - 3591 = $6

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