Prepare the statement of cash flow Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net
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Prepare the statement of cash flow
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Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation SMOLIRA GOLF CORPORATION 2021 Income Statement Taxable income Tax(25%) Net Income Earnings before interest and taxes Interest paid Dividends Retained earnings Cash, beginning of the year Operating activities Net income Add: Deprecation 2020 $32,653 $39.350 16.911 28.877 34,495 44,336 $ 84,059 $112.563 Net cash from operating active investment activities SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabimes and Owners' Equity Current abilities $441,099 $ 502.872 Total $525:58 $615,435 Total abilities and owners' equity SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 Less increase in accounts receivable Less increase in inventory Add: Increase in accounts payable Add: Increase in accounts payable Net cash from investment activities Francing activities Ner cash from financing activities Cash end of year $ 20,000 45,340 Prepare the 2021 statement of cash flows for Smolins Golf Corporation. (Negative answers should be indicated by a minus sign.) Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earings $531750 377,294 46.686 $107,770 20.650 $ 87/20 21780 $ 65,340 1 $7,120 $ 106.300 S -108 450 8.790 2020 2021 $ 34,886 $44,285 18.058 16.848 18.871 25.619 $71,815 $86,752 $110,000 140,000 $55,000 $55.000 288.343 333,683 $343.343 388.683 $525:58 615,435 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Sales Cost of goods sold Depreciation SMOLIRA GOLF CORPORATION 2021 Income Statement Taxable income Tax(25%) Net Income Earnings before interest and taxes Interest paid Dividends Retained earnings Cash, beginning of the year Operating activities Net income Add: Deprecation 2020 $32,653 $39.350 16.911 28.877 34,495 44,336 $ 84,059 $112.563 Net cash from operating active investment activities SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabimes and Owners' Equity Current abilities $441,099 $ 502.872 Total $525:58 $615,435 Total abilities and owners' equity SMOLIRA GOLF CORPORATION Statement of Cash Flows For 2021 Less increase in accounts receivable Less increase in inventory Add: Increase in accounts payable Add: Increase in accounts payable Net cash from investment activities Francing activities Ner cash from financing activities Cash end of year $ 20,000 45,340 Prepare the 2021 statement of cash flows for Smolins Golf Corporation. (Negative answers should be indicated by a minus sign.) Accounts payable Notes payable Other Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earings $531750 377,294 46.686 $107,770 20.650 $ 87/20 21780 $ 65,340 1 $7,120 $ 106.300 S -108 450 8.790 2020 2021 $ 34,886 $44,285 18.058 16.848 18.871 25.619 $71,815 $86,752 $110,000 140,000 $55,000 $55.000 288.343 333,683 $343.343 388.683 $525:58 615,435
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To prepare the statement of cash flows for Smolira Golf Corporation we need to analyze the changes in the balance sheet from 2020 to 2021 and the inco... View the full answer
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