USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance...
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USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable Inventory Total current assets Gross fixed assets* (Accumulated depreciation) Net fixed assets Total assets Notes payable Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 1 38,200 61,120 397,280 496,600 382,000 (114,600) 267,400 764,000 61,120 137,520 15,280 213,920 106,960 22,920 229,200 191,000 764,000 Year 2 MacBook Air 32,880 41,100 468,540 542,520 419,220 (139,740) 279,480 822,000 82,200 156,180 24,660 263,040 57,540 41,100 254,820 205,500 822,000 Additional Data from Company Income Statement(s): Sales in Year 2 1,644,000 Net income in Year 2 32,880 No long-term assets were sold in either Year 1 or Year 2 Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity 137,520 15,280 213,920 106,960 22,920 229,200 191,000 764,000 156, 24,660 263,040 57,540 41,100 254,820 205,500 822,000 Additional Data from Company Income Statement(s): Sales in Year 2 1,644,000 32,880 Net income in Year 2 No long-term assets were sold in either Year 1 or Year 2 26. What did NikoJokic, Inc. report as Net Cash Flow from Operating Activities for Year 2? 27. What did NikoJokic, Inc. report as Net Cash Flow from Investing Activities for Year 2? 28. What did NikoJokic, Inc. report as Net Cash Flow from Financing Activities for Year 2? USE THE DATA IN THE TABLE BELOW TO ANSWER THE FOLLOWING 3 QUESTIONS NikoJokic, Inc. Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Cash Accounts receivable Inventory Total current assets Gross fixed assets* (Accumulated depreciation) Net fixed assets Total assets Notes payable Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 1 38,200 61,120 397,280 496,600 382,000 (114,600) 267,400 764,000 61,120 137,520 15,280 213,920 106,960 22,920 229,200 191,000 764,000 Year 2 MacBook Air 32,880 41,100 468,540 542,520 419,220 (139,740) 279,480 822,000 82,200 156,180 24,660 263,040 57,540 41,100 254,820 205,500 822,000 Additional Data from Company Income Statement(s): Sales in Year 2 1,644,000 Net income in Year 2 32,880 No long-term assets were sold in either Year 1 or Year 2 Accounts payable Accruals Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity 137,520 15,280 213,920 106,960 22,920 229,200 191,000 764,000 156, 24,660 263,040 57,540 41,100 254,820 205,500 822,000 Additional Data from Company Income Statement(s): Sales in Year 2 1,644,000 32,880 Net income in Year 2 No long-term assets were sold in either Year 1 or Year 2 26. What did NikoJokic, Inc. report as Net Cash Flow from Operating Activities for Year 2? 27. What did NikoJokic, Inc. report as Net Cash Flow from Investing Activities for Year 2? 28. What did NikoJokic, Inc. report as Net Cash Flow from Financing Activities for Year 2?
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To find the net cash flow from operating activities investing activities and financing activities for Year 2 we need to analyze the changes in the bal... View the full answer
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
7th edition
Authors: Hilton Murray, Herauf Darrell
Posted Date:
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