Question: I need help with these three questions! This is what was provided to answer the questions: These are the three questions: Thank you! 2011 and

I need help with these three questions!

This is what was provided to answer the questions:

I need help with these three questions! This is what was provided

These are the three questions:

to answer the questions: These are the three questions: Thank you! 2011

Thank you!

2011 and balance sheets for 2011 SDPS Inc. Balance Sheets December 31, 2011 and 2010 2011 ASSETS urrent assets: Cash Accounts receivable Supplies, fuel $ 40,000 126,000 11,000 $177,000 SDPS Inc. Income Statement For the Year Ended December 31, 2011 Sales $ 937,000 2010 Less operating expenses Wages expense $(278,000) Rent expense 1229,000) Supplies expense (83,000 $ 82,000 Maintenance expense (138,000) 109,000 Depreciation expense (215,000) 1943,000) 25,000 Income (loss) from $ 16,000) $216,000 operations Other income (expenses): $ 409,000 Loss on disposal of property, plant, (136,000) and equipment (3,000) Interest expense (14,000 (17,000) 273,000 Net loss $ (23,000) $489,000 Total current assets operty, plant, and equipment: Equipment, vehicles Accumulated depreciation Net property, plant, and equipment Total assets $ 524,000 (174,000) 350,000 $527,000 2. LABILITIES AND EQUITY Additional information: Current liabilities: 1. Vehicles with a cost of $310,000 and accumulated Accounts payable $103,000 $ 58,000 depreciation of $177,000 were sold for $130,000 Wages payable 22,000 29,000 cash. New vehicles were purchased for $425,000 Repair and maintenance cash. payable 41,000 34,000 A $25,000 principal payment on the long-term note Rent payable 92,000 51,000 was made during 2011 Total current liabilities $258,000 $172,000 3. No dividends were paid during 2011. long-term liabilities: Notes payable, long-term 100,000 125,000 Total liabilities $358,000 $297,000 Equity: Common stock $150,000 $150,000 Retained earnings 19,000 42,000 Total equity 169,000 192,000 Total liabilities and equity $527,000 $489,000 Required: 1. Prepare a statement of cash flows, using the indirect method to compute net cash flow from operating activities. 2. Conceptual Connection: Explain what has been responsible for the decrease in cash. 3. Conceptual Connection: Determine how SDPS financed its increase in net property, plant, and equipment during a period in which it had a substantial net loss. Problem 11-49B (Appendix 11A) Preparing Net Cash Flows from Operating OBJECTIVE 8 Activities - Direct Method Befuddled Corporation collected the following information on inflows and outflows for 2011: Outflows Inflows $534,900 Cash collections from sales $956,500 Cash payments for cost of goods sold 193,200 Cash payments for operating expenses 11,250 Proceeds from disposal of equipment 36,400 Proceeds received from issuance of Cash payments for interest 30,000 Cash payments for income taxes 21,300 notes payable Cash payments for purchases of 217,150 equipment Repayment of short-term notes payable 20,000 Payment of cash dividends 38,000 Befuddled had a cash balance of $89.200 on 1/1/11 (Continued) Using the information from Test Supplment, what is the Net Cash Provided from Operating Activities? $271,000 $275,000 $278,000 $312,000 QUESTION 24 Using the information from Test Supplement, what is the Net Cash Provided/(Used) from Investing Activities? O ($425,000) O ($295,000) $130,000 $555,000 QUESTION 25 Using the information from the Test Supplement, what is the Net Cash Provided/(Used) From Financing Activities? O ($25,000) O $25,000 $105,000 None of the above

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!