Comparative financial statement data for Carmono Company follow: Assets Cash This Year Last Year $ 8.00...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Comparative financial statement data for Carmono Company follow: Assets Cash This Year Last Year $ 8.00 $ 15.00 Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: 45.00 81.80 52.00 95.00 155.00 141.80. 234.00 196.00 46.40 34.801 187.60 $ 342.60 $ 57.00 122.00 163.60 $ 342.60 161.20 $ 303.00 $ 47.00 94.00 162.00 $ 303.00 Sales Cost of goods sold Gross margin Selling and administrative expenses Net income $ 900.00 540.00 360.00 340.00 $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Required 1 Required 2 Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Carmono Company Statement of Cash Flows For This Year Ended December 31 Operating activities: es Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 0.00 0.00 0.00 0.00 0.00 $ 0.00 Comparative financial statement data for Carmono Company follow: Assets Cash This Year Last Year $ 8.00 $ 15.00 Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity For this year, the company reported net income as follows: 45.00 81.80 52.00 95.00 155.00 141.80. 234.00 196.00 46.40 34.801 187.60 $ 342.60 $ 57.00 122.00 163.60 $ 342.60 161.20 $ 303.00 $ 47.00 94.00 162.00 $ 303.00 Sales Cost of goods sold Gross margin Selling and administrative expenses Net income $ 900.00 540.00 360.00 340.00 $ 20.00 This year Carmono declared and paid a cash dividend. There were no sales of property, plant, and equipment during this year. The company did not repurchase any of its own stock this year. Required: 1. Using the indirect method, prepare a statement of cash flows for this year. 2. Compute Carmono's free cash flow for this year. Required 1 Required 2 Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts. Round your intermediate calculations and final answers to 2 decimal places.) Carmono Company Statement of Cash Flows For This Year Ended December 31 Operating activities: es Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents 0.00 0.00 0.00 0.00 0.00 $ 0.00
Expert Answer:
Answer rating: 100% (QA)
1 Statement of Cash Flows using the indirect method Carmono Company Statement of Cash Flows For the ... View the full answer
Related Book For
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
Students also viewed these accounting questions
-
The U.S. rate of inflation is projected at 2% per year over the next ten years, while the Japanese rate of inflation is projected at 0% per year. The current exchange rate is 121 yen/$. a) If you do...
-
To Premium From Actuarial Rating Advertising Sales Actuarial Premium 1e% 25% 15 60 The direct operating costs of the departments (including both variable and fixed costs) are Actuarial Premium rating...
-
In a survey at a shopping center, the interviewer asks customers how long their shopping trips have lasted so far. The response (T) given by a randomly chosen customer is uniformly distributed from 0...
-
An opinion column in the New York Times quotes an economist's analysis of the effect of government infrastructure spending on new bridges and highways in the United States: "The investment multiplier...
-
The availability of a system (a) Depends upon the conditions of the system only (b) Is independent of the conditions of the surroundings (c) Does not depend upon the conditions of the system (d)...
-
A location analysis for Cook Controls, a small manufacturer of parts for high- technology cable systems, has been narrowed down to four locations. Cook will need to train assemblers, testers, and...
-
As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 30% of Nursery Supplies Incorporated's 8 million shares of capital stock for $30 million. The fair...
-
A restaurant sells calzones for $9 and slices for $6. Friday, a total of 46 calzones and slices were sold, and the total money collected was $351. How many calzones and how many slices were sold?
-
Now that you are a famous businessperson, you are frequently asked to make after-dinner speeches on business topics. Without thinking about it too much, you agreed to make a speech on accrual...
-
The balance sheet of ABC Ltd as at 31 December 2015 and the cash receipts and payments for the year ended 31 December 2016 are shown below. Additional information: a. As at 31 December 2016, the...
-
Refer to the extracts of the annual report of Woolworths Limited in this book's appendix. All questions relate to the consolidated accounts. 1. What would be the most likely source document used by...
-
Motels Ltd operates three motels in large country centres. The accounts for the year ended 30 June 2016 have been finalised, with the exception of any adjustments that may result from the following:...
-
An adjusted trial balance at 31 December 2016 for a toy manufacturer is given below: 1. In the balance sheet, prepared at 31 December 2016: a. What would be the balance of total current assets? b....
-
Research an event that, in your opinion, has had the largest impact on the workplace today. Then, write a summary that reflects the importance of this event. In this summary: Identify an event that...
-
Using the theoretical sampling strategy, how many samples of size 4 (n = 4) can be drawn from a population of size: (a) N = 5? (b) N = 8? (c) N = 16? (d) N = 50?
-
Document the CRC card for the temptation EBT.
-
What are the classes and patterns involved in defining the stable pattern for temptation?
-
Is the temptation pattern incomplete without the use of other patterns? Explain briefly.
Study smarter with the SolutionInn App