Part C The balance sheet of Sublime Company for 2 years is presented below, along with...
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Part C The balance sheet of Sublime Company for 2 years is presented below, along with certain other information for 2018. All amounts are in $. As at 12/31/2017 12/31/2018 Cash Accounts receivable Prepaid expenses Land Equipment at net book value Investments Total Assets Taxes payable Accounts Payable Long term Bonds payable Common Stock Retained Earnings Total liabilities & equity 155,000 40,000 100,000 100,000 525,000 125,000 1,045,000 125,000 200,000 100,000 500,000 120,000 1,045,000 45,000 95,000 60,000 300,000 560,000 125,000 1,185,000 95,000 210,000 200,000 550,000 130,000 1,185,000 [30 points] Other information: a. Net Income for 2018 was 50,000 b. Depreciation expense for 2018 was 25,000. Accumulated depreciation on Equipment was 175000 at the end of 2017 and 200000 at the end of 2018. C. Calculate the cash flow from Financing activities for Sublime Company for period ending 12/31/18. [30 points] Show individual items (assets, liabilities etc. that resulted in this number) Part C The balance sheet of Sublime Company for 2 years is presented below, along with certain other information for 2018. All amounts are in $. As at 12/31/2017 12/31/2018 Cash Accounts receivable Prepaid expenses Land Equipment at net book value Investments Total Assets Taxes payable Accounts Payable Long term Bonds payable Common Stock Retained Earnings Total liabilities & equity 155,000 40,000 100,000 100,000 525,000 125,000 1,045,000 125,000 200,000 100,000 500,000 120,000 1,045,000 45,000 95,000 60,000 300,000 560,000 125,000 1,185,000 95,000 210,000 200,000 550,000 130,000 1,185,000 [30 points] Other information: a. Net Income for 2018 was 50,000 b. Depreciation expense for 2018 was 25,000. Accumulated depreciation on Equipment was 175000 at the end of 2017 and 200000 at the end of 2018. C. Calculate the cash flow from Financing activities for Sublime Company for period ending 12/31/18. [30 points] Show individual items (assets, liabilities etc. that resulted in this number)
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Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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