What amount should be reported as cash balance at year-end? Chuzzle Company used the direct method...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
What amount should be reported as cash balance at year-end? Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance-beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000 What amount should be reported as cash balance at year-end? Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance-beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000
Expert Answer:
Answer rating: 100% (QA)
To determine the cash balance at yearend you need to calculate the net cash flow by considering the ... View the full answer
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
Posted Date:
Students also viewed these accounting questions
-
Robotic Pet Products uses overtime, inventory and subcontracting to absorb fluctuations in demand. As expected, demand in the fourth quarter during the holiday season is particularly high, followed...
-
To prepare the statement of cash flows, accountants for Percy Electric Company have summarized 2016 activity in two accounts: Percy Electric's 2016 income statement and balance sheet data follow:...
-
To prepare the statement of cash flows, accountants for Franklin Electric Company have summarized 2016 activity in two accounts: Franklin Electric's 2016 income statement and balance sheet data...
-
X-Tech Inc. produces specialized bolts for the aerospace industry. The operating cost of producing a single bolt is $2. The company currently sells the bolts for $6/unit. Each time the company...
-
Nabor Industries is considering going public but is unsure of a fair offering price for the company. Before hiring an investment banker to assist in making the public offering, managers at Nabor have...
-
a. Sketch the graph of y = x 3 + 4x 2 + 4x. b. The point with coordinates (1, 0) lies on the curve with equation y = (x + a) 3 + 4(x + a) 2 + 4(x + a) where a is a constant. Find the two possible...
-
You need to understand the approach described in question 3 in More Genetic TIPS before answering this question. A gene that is normally expressed in pancreatic cells was cloned and then subjected to...
-
Following are 10 key internal controls in the payroll cycle for Gilman Stores, Inc. Key Controls 1. To input hours worked, payroll accounting personnel input the employee's Social Security number....
-
The given code snippet is implemented using linear probing technique, what change you have to make so that the quadratic probing is implemented. @Override public boolean put(String word, String...
-
Laurens Beauty Boutique has experienced the following weekly sales: Forecast sales for week 6 using the nave method, a simple average, and a three-period moving average. Week 1 2 3 4 5 Sales 420 382...
-
Fjallraven a trendy Sweden based apparel for young adults wants to sell their backpacks to American students studying in Europe for a semester. Because of the difficulty of communicating with...
-
If a case is affirmed, it means all justices unanimously agree on an opinion. is sent back to the court that heard the case. means the decision is valid and must stand. will result in a new trial...
-
Read Case Study 9, The Outstanding Faculty Award Answer, discuss, and examine the following questions: 1. What is your diagnosis of the situation in the College of Business, Outstanding Faculty Award...
-
For random samples X, X2,..., Xn of X~ (x, o), and mean estimator n-1 X, show that the sample variance estimator is unbiased. S = n 1 n (Xi - Px) i=1
-
If the Earned Value is equal to Actual Cost, it means: There is no schedule variance The Schedule Variance Index is 1 The project is on budget and on schedule. There is no cost variance
-
Based on the course readings, from the employer's perspective, what is the value of a multi-step grievance procedure to management? Can a union force an employee to file a grievance?
-
The quantitative monetary policy tool is Alat dasar kewangan kuantitatif ialah A. open market operations, control over mortgages, installment credits and margin requirements operasi pasaran terbuka,...
-
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
-
WPP is a UK group, engaged in the provision of communications services on a national, multinational and global basis. The company is organized into four segments: Advertising and Media Investment...
-
Multiple Choice Questions Select the right answer (only one possible answers unless otherwise stated). 1 Which of the following does IASB stand for? (a) Internationally Accepted Standards Board (b)...
-
Which of the following statements best describes the purpose of financial reporting? (Explain why you chose your option and why you rejected the others) (a) Provide a listing of an entitys resources...
-
Personalized medicine may be used a. to characterize types of tumors. b. to predict the outcome of certain types of cancers. c. to determine the proper dosage of drugs. d. in all of the above.
-
Tumor-suppressor genes promote cancer when a. they are overexpressed. b. they are expressed in the wrong cell type. c. their function is inactivated. d. they are expressed at the wrong stage of...
-
A mutant gene that promotes cancer when it is overexpressed is called a. a tumor-suppressor gene. b. an oncogene. c. both a and b. d. neither a nor b.
Study smarter with the SolutionInn App