Q3-13

Q3 please answer :; Note X to the Statement of Cash Flows: During the year, the company purchased equipment costing $Enter a dollar amount by paying $21,400 cash and issuing a $59,600 bank loan payable.Please answer all questions

Homework 13 (1) - Microsoft Word Page Layout Mailings Home Insert References Review View A Find - % Cut - 12 Helvetica BbCcDc ABcD AaBbC AB Al ABbcDe a Replace E Copy Paste 1 Normal Change Styles Subtitle abe x, x Aa I No Spaci. Heading 1 Heading 2 Title Subtle Em... Format Painter E Select Editing Clipboard Font Paragraph Styles Q3/ The income statement and unclassified statement of financial position for Wildhorse Inc. follow: WILDHORSE, INC. Statement of Financial Position December 31 Assets 2018 2017 Cash $100,000 $48,500 Held for trading investments 120,000 114,500 76,000 Accounts receivable 42,700 Inventory 122,700 94,550 Prepaid expenses 19,000 27,800 Equipment 295,000 316,000 Activate Windows Go to Settings to activate Windows Accumulated depreciation (47,000) (53,900) English (Canada) Page: 8 of 18 Words: 3,199 Homework 13 (1) - Microsoft Word Mailings Page Layout Home Insert References Review View A Find - % Cut - 12 Helvetica BbCcDc ABcD AaBbC AB Al ABbcDe a Replace E Copy Paste Change Styles I Normal Subtitle abe x, x Aa Heading 1 I No Spaci. Heading 2 Title Subtle Em... Format Painter E Select Editing Styles Clipboard Font Paragraph Equipment 316,000 295,000 Accumulated depreciation (47,000) (53,900) Total assets $706,700 $569,150 Liabilities and Shareholders' Equity Accounts payable $93,500 $77,200 Accrued liabilities 7,100 12,000 Bank loan payable 131,200 185,850 220,000 175,000 Common shares Retained earnings 250,000 124,000 Activate Windows Goto Settings to activate Windows. Words: 3,199 Page: 8 of 18 English (Canada) Homework 13 (1) - Microsoft Word Page Layout Mailings View Home Insert References Review A Find - % Cut - 12 Aal Helvetica BbCcDc ABcD AaBbC AB Al ABbcDe E Copy Replace I U Paste I No Change Styles I Normal abe x, * a Heading 1 Heading 2 I No Spaci. Title Subtitle Subtle Em... Format Painter E Select Editing Clipboard Font Paragraph Styles Total liabilities and shareholders' equity $706,700 $569,150 WILDHORSE, INC. Income Statement Year Ended December 31, 2018 Sales $536,000 Cost of goods sold 186,900 Gross profit 349,100 Operating expenses 116,400 Income from operations 232,700 Other revenues and expenses Activate Windows Go to Settings to activate Windows. Unrealized gain on held for trading investments $5,500 Page: 8 of 18 Words: 3,199 English (Canada) 100% Homework 13 (1) - Microsoft Word Table Tools Page Layout View Home Home Insert References Mailings Review Design Layout Inse % Cut Aal Times New Roman 12 BbCcDc AaBbccDc AaBbC( B l AaBbCcDe a Copy I U - abe X, ab I Normal Paste I No Spaci. Cha * Aa Home Title Subtitle Subtle Em... Heading 1 Heading 2 Inse Format Painter Sty * Cut Clipboard Font Paragraph Styles A Copy %23 4. Paste VFormat Paint 3. New equipment costing $81,000 was purchased for $21,400 cash and a $59,600 Clipboard long-term bank loan payable. 4. Old equipment having an original cost of $60,000 was sold for $1,800. 5. Accounts payable relate to merchandise creditors. 6. Some of the bank loan was repaid during the year. 7. A dividend was paid during the year. 8. Operating expenses include $47,000 of depreciation expense and a $4,300 loss on disposal of equipment. Activate Windows Goto Settings to activa * Arabic (Iraq) Page: 10 of 18 Words: 3,199 100% ( Homework 13 (1) - Microsoft Word Table Tools Page Layout Mailings Design Layout Home Insert References Review View A Find - % Cut - 12 Aal Lato Dc ABbccDe AaBbC AB A! BDe A Copy Replace Paste ab I No Spaci. Change Styles U - abe x, x Aa I Normal Heading 2 Heading 1 Title Subtitle Subtle Em... Format Painter E Select Styles Editing Clipboard Font Paragraph Select an item Net SEntera dollar incomeDepreciationexpenseloss on disposal of eguipmentGain on disposal amount of equipmentlncrease in accounts payable Decrease in accounts payableDecrease in accrued liabilitiesIncrease in accrued liabilitiesIncrease in prepaid expensesDecrease in prepaid expensesIncrease in inventoryDecrease in inventorylncrease in accounts receivableDecrease in accounts receivable Proceeds from disposal of equipmentPurchase of equipmentPurchase of landSale of landSale of common sharesPayment of cash dividendsRepayment of bank loan payable TosuppliersFor operating expensesForinterestFor income taxesUnrealized gain on trading investments Activate Windows Go to Settings to activate Windows. Adjustments to reconcile net income to Select an onening subsection name Page: 10 of 18 Words: 3,199 English (United States) 100% Homework 13 - Microsoft Word Table Tools Layout Mailings Review Design Home Insert Page Layout References View A Find - % Cut - 11 Calibri (Body) Dc ABbccDe AaBbC AB A! BDe a Replace E Copy Paste 1 Normal U - abe x, x' Aa Change Styles Heading 2 Subtle Em... I No Spaci. Heading 1 Title Subtitle Format Painter E Select Paragraph Editing Clipboard Font Styles Document Recovery Word has recovered the following files. Save the ones you wish to keep. Net incomeDepreciationexpenseDecrease in accounts receivablelncrease in accounts receivablelncrease in salaries payableDecrease in salaries payablelncrease in prepaid expensesDecrease in prepaid expenses Decrease in accounts payablelncrease in accounts payablelncrease in unearned revenueDecrease in unearned revenuelncrease in income tax payableDecrease in income tax payablelncrease in interest payableDecrease in interest payableloss on sale of equipmentAmortizationexpenseAmortization of bond premiumlncrease in accrued liabilitiesDecrease in accrued liabilities Available files W HW 9 [Original] Version created last ... 06:40 . ENet incomeDepreciationexpenseDecrease in accounts receivablelncrease in accounts receivablelncrease in salaries payableDecrease in salaries payablelncrease in prepaid expensesDecrease in prepaid expenses Decrease in accounts payablelncrease in accounts payablelncrease in unearned revenueDecrease in unearned revenuelncrease in income tax payableDecrease in income tax payablelncrease in interest payableDecrease in interest payableloss on sale of equipmentAmortizationexpenseAmortization of bond premiumlncrease in accrued liabilitiesDecrease in accrued liabilities Activate Windows Go to Settings to activate Windows. O Which file do I want to save? Close Page: 4 of 8 Words: 1,104 English (Canada) Homework 13 (1) - Microsoft Word Table Tools Page Layout Mailings Review Design Layout Home Insert References View A Find - % Cut - 12 Aal Lato BbCcDc AaBcDc AaBbCi ABb l ABbCcDe E Copy Replace ab Paste U - abe Change Styles * a I Normal I No Spaci. Heading 1 Heading 2 Title Subtitle Subtle Em... x, Format Painter E Select Editing Clipboard Font Paragraph Styles Entera total Select an iteml Cash, amount for January 1 three sections Cash, December 31Cash flows from financing activitiesCash flows from investing activitiesCash flows from operating activities Net cash provided by financing activitiesNet cash provided by investing activities Net cash provided by operating activities Net cash used by financing activities Net cash used by investing activities Net cash used by operating activities Net decrease in cash Activate Windows Go to Settings to activate Windows. Net increase in cash * English (United States) Words: 3,199 Page: 16 of 18 100%