Prepare a Statement of Cash Flows for the year ended December 31, 2023 for the corporation,...
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Prepare a Statement of Cash Flows for the year ended December 31, 2023 for the corporation, organized by cash flow from operating activities, cash flow from investment activities, and cash flow from financing activities. B. Compute the cash dividends paid, if any. (3 points) C. Evaluate each part of the statement with a minimum of two sentences each. (3 points) 1. Operating activities 2. Financing Activities 3. Investing Activities Sitcy Corp Corporation Income Statement for the year ended Dec 31, 2023 Sales revenue less Cost of Goods Sold Gross Profits Less General and Adm. Ex Selling Expenses Depreciation expense Total Expenses Operating Profits less Interest Expenses Net Profit Before Taxes less Taxes 21% 2023 2022 100000 $94,000 88,000 81,000 12,000 13,000 6,200 800 620 7,620 8,000 500 400 8,900 4,380 1,000 3,380 709.8 2,670 200 4,100 1,700 2,400 504 Net Profits After Taxes 1,896 less Preferred Dividends 200 Eamings Available To Com $2,470 $ 1,696 Sitcy Corp. Corporation Balance Sheet For the Years Ended December 31, 2023 and 2022 2023 2022 ASSETS Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Buildings Machinery Equipments Total Gross Assets Less Accumulated Depreci Net Fixed Assets Total Assets $1,250 $ 900 2000 2500 4200 4,000 4100 4300 11550 11700 13000 10000 4,150 4000 770 900 17,920 14,900 4120 3500 13,800 11,400 $25,350 $23,100 LIABILITIES AND EQUITY Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Debts Total Debts Preferred Stock Common Stock $2,000 $1,400 2,500 1200 5100 1900 1700 5600 14025 19625 700 2425 600 2000 5725 13,000 18100 500 2200 500 1800 5000 Paid in Capital ie of par val Retained Earnings Total Stockholders equity TOTAL DEBTS AND S. E $25,350 $23,100 Prepare a Statement of Cash Flows for the year ended December 31, 2023 for the corporation, organized by cash flow from operating activities, cash flow from investment activities, and cash flow from financing activities. B. Compute the cash dividends paid, if any. (3 points) C. Evaluate each part of the statement with a minimum of two sentences each. (3 points) 1. Operating activities 2. Financing Activities 3. Investing Activities Sitcy Corp Corporation Income Statement for the year ended Dec 31, 2023 Sales revenue less Cost of Goods Sold Gross Profits Less General and Adm. Ex Selling Expenses Depreciation expense Total Expenses Operating Profits less Interest Expenses Net Profit Before Taxes less Taxes 21% 2023 2022 100000 $94,000 88,000 81,000 12,000 13,000 6,200 800 620 7,620 8,000 500 400 8,900 4,380 1,000 3,380 709.8 2,670 200 4,100 1,700 2,400 504 Net Profits After Taxes 1,896 less Preferred Dividends 200 Eamings Available To Com $2,470 $ 1,696 Sitcy Corp. Corporation Balance Sheet For the Years Ended December 31, 2023 and 2022 2023 2022 ASSETS Cash Marketable Securities Accounts Receivable Inventory Total Current Assets Buildings Machinery Equipments Total Gross Assets Less Accumulated Depreci Net Fixed Assets Total Assets $1,250 $ 900 2000 2500 4200 4,000 4100 4300 11550 11700 13000 10000 4,150 4000 770 900 17,920 14,900 4120 3500 13,800 11,400 $25,350 $23,100 LIABILITIES AND EQUITY Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Debts Total Debts Preferred Stock Common Stock $2,000 $1,400 2,500 1200 5100 1900 1700 5600 14025 19625 700 2425 600 2000 5725 13,000 18100 500 2200 500 1800 5000 Paid in Capital ie of par val Retained Earnings Total Stockholders equity TOTAL DEBTS AND S. E $25,350 $23,100
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Question A Statement of Cash Flows For the year ended December 31 2023 Cash Flow from Operating Activities Amount Net Income 3380 Adjustments to recon... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
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