Green Bean, Inc. began 2016 with cash of $57,000. During the year, Green Bean earned revenue of $596,000 and collected $618,000 from customers. Expenses for the year totaled $433,000, of which Green Bean paid $214,000 in cash to suppliers and $209,000 in cash to employees. Green Bean also paid $146,000 to purchase equipment and a cash dividend of $56,000 to its stockholders during 2016. Prepare the company’s statement of cash flows for the year ended December 31, 2016. Format operating activities by the direct method.
Answer to relevant QuestionsMiss Ella’s Learning Center has assembled the following data for the year ended June 30, 2016: Payments to suppliers .......... $ 118,000 Cash payment for purchase of equipment.... 38,000 Payments to ...Consider the following facts for Vanilla Valley: a. Beginning and ending Retained Earnings are $43,000 and $69,000, respectively. Net income for the period is $58,000. b. Beginning and ending Plant Assets are $120,600 and ...Use the Supplements Plus, Inc. data in Exercise E14-21 to prepare the spreadsheet for the 2016 statement of cash flows. Format cash flows from operating activities by the indirect method. Exercise E14-21 Frank Rare Coins (FRC) was formed on January 1, 2016. Additional data for the year follow: a. On January 1, 2016, FRC issued no par common stock for $450,000. b. Early in January, FRC made the following cash payments: 1. For ...Stenback Media Corporation had the following income statement and balance sheet for 2016: Requirements 1. Compute the acquisition of plant assets for Stenback Media Corporation during 2016. The business sold no plant assets ...
Post your question