Question: Hi! Please help me answer these questions! I would really appreciate it :) for #1 please also include the income statement and the cash show
Hi! Please help me answer these questions! I would really appreciate it :)
for #1 please also include the income statement and the cash show statement!




Condensed financial data of Monopoly Corporation appear below: A cash dividend was declared and paid in full to stockholders during the year. 1 Required: Solve for the missing numbers. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Cash Flow Stmt Solve for the missing numbers. MONOPOLY CORPORATION Comparative Balance Sheet December 31 Current Year Prior Year Assets Cash $ 36,530 $ Accounts receivable Inventories Prepaid rent 2,170 Property, plant, and equipment 219,500 Accumulated depreciation (53,200) Total assets $ 328,600 $ Liabilities and Stockholders' Equity Accounts payable $ 37,400 $ Accrued Liabilities 10,000 Notes payable (long-term) 128,500 Contributed capital 47,000 Retained earnings 105,700 Total liabilities and stockholders' equity $ 328,600 $ 23,800 31,700 69,700 1,700 197,000 (38,500) 285,400 33,700 11,700 147,000 23,500 69,500 285,400 Westmoreland Corporation prepared its statement of cash flows for the year. The following information is taken from that statement: 2 Net cash provided by operating activities Net cash provided by investing activities Net cash flow used in financing activities Cash balance, end of year $ 16,700 5,300 (11,300) 14,600 What is the cash balance at the beginning of the year? Multiple Choice $25,300 $10,700 O O $3,900 O $6,700 5 Patterson Co.'s Depreciation Expense is $20,400 and the beginning and ending accumulated depreciation balances are $150,200 and $155,200, respectively. What is the cash paid for depreciation? Multiple Choice $5,000 $20,400 $25,400 O $0 The Extra Surplus Company's Balance Sheet for December 31, 2017 and the Income Statement for 2018 are shown below. 6 Extra Surplus Company Balance Sheet December 31, 2017 Assets Cash Accounts Receivable Inventory Property and Equipment, Net Skipped $ 16,000 8,000 19,200 32,000 $75,200 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock Retained Earnings $ 16,000 8,000 32,000 19,200 $ 75,200 Extra Surplus Company Income Statement For the Year Ended December 31, 2018 Sales $28,600 Cost of Goods Sold 6,600 Salaries and Wage Expense 6,600 Interest Expense 2,200 Other Expenses Net Income $12, 100 1,100 Additional data: Sales were $28,600; $17,600 in cash was received from customers. Bought new land for cash, $22,000. Sold other land for its book value of $11,000. Paid $2,200 principal on the long-term note payable and $2,200 in interest. Issued new shares of stock for $22,000 cash. Cash dividends of $3,400 were declared and paid to stockholders. Paid $12,700 on accounts payable. No inventory purchases were made; other expenses were incurred on account. All wages were paid in cash. Other expenses were on account. Required: a. Prepare a balance sheet at December 31, 2018. b. Prepare the statement of cash flows using the direct method. 00 The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statements are summarized. Current Year Prior Year Skipped $116,700 144,000 108,000 206,000 (59,840) $514,860 $134,400 126,000 117,000 108,000 (31,000) $454,400 Balance Sheet Assets Cash Accounts receivable Merchandise inventory Property and equipment Less: Accumulated depreciation Total assets Liabilities: Accounts payable Salaries and Wages Payable Notes payable, long-term Stockholders' Equity: Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Depreciation expense Other expenses Net income $ 18,000 3,600 90,000 164,000 239,260 $514,860 $ 21,600 1,800 108,000 144,000 179,000 $454,400 $520,000 270,000 28,840 130,000 $ 91,160 Other information from the company's records includes the following: Bought equipment for cash, $98,000. Paid $18,000 on long-term note payable. Issued new shares of common stock for $20,000 cash. Cash dividends of $30,900 were declared and paid to stockholders. Accounts Payable arose from inventory purchases on credit. Income tax expense ($22,790) and interest expense ($5,400) were paid in full at the end of both years and are included in Other Expenses. Required: a. Prepare the statement of cash flows using the indirect method. Include any supplemental disclosures. (Enter any deductions and cash outflows as a negative value.)
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