Use the Kahl Medical Supplies data from P11-39B. The cash amounts for Interest Revenue, Salaries Expense, Interest
Question:
In P11-39B. The 2012 comparative balance sheet and income statement of Kahl Medical Supplies follow:
Requirements
1. Prepare the 2012 statement of cash flows by the direct method.
2. How will what you learned in this problem help you evaluate an investment in Kahl MedicalSupplies?
Transcribed Image Text:
Kahl Medical Supplies Comparative Balance Sheet December 31, 2012 and 2011 INCREASE 2012 2011 (DECREASE) Current Assets: Cash and Cash Equivalents Accounts Receivable nventory S 6,600 S 6,000 S 600 25,00026,8001.800) 91,90089,6002.300 Fixed Assets: 89 Land Equipment, Net 200 60,400 28,800 53,900 49,5004,400 S266,600 S232,300 S34,300 Total Assets Current Liabilities Accounts Payable S 30,300 S 35.800 S (5,500) Accrued Liabilities Notes Payable Cemmon Stock 30,900 28,3002.600 Long-Term Liabilities: 73,000 101,000 (28,000) Stockholders' Equity: 88,500 64,400 24,100 2,800 41,100 Total Liabilities and Stockholders' Equity $266,600$232.300S34.300 Retained Earnings 43,900 Kahl Medical Supplies Income Statement Year Ended December 31,2012 Revenues: Sales Revenue Interest Revenue $213,000 8,300 Total Revenues Expenses Cost of Goods Sold Salaries Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense S 70,500 27,700 4,600 10,300 11.,400 29,000 Total Expenses 153.500 S 67.800 Net Income
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
Req 1 Kahl Medical Supplies Statement of Cash Flows Year Ended December 31 2012 Cash flows from oper...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
The 2012 comparative balance sheet and income statement of Rolling Hills, Inc., follow: Additionally, Rolling Hills purchased land of $23,600 by financing it 100% with long-term notes payable during...
-
The 2012 comparative balance sheet and income statement of Kahl Medical Supplies follow: Kahl Medical Supplies had no noncash investing and financing transactions during 2012. During the year, Kahl...
-
The 2012 comparative balance sheet and income statement of Appleton Group, Inc., follow. Appleton had no noncash investing and financing transactions during 2012. Requirement 1. Prepare the...
-
Khairul has been working with Tun Hamid Energy Bhd since 1 February 2009 as a Human Resource Executive. Beginning 1 January 2014, he was promoted as Human Resource Manager. Details of his...
-
How close must the input be to x = 1 for f(x) = 2x + 1 to be within 0.1 of 3? For the above function, find the input tolerance necessary to achieve the given output tolerance.
-
Demonstrate graphically what happens to profits if more advertising results in more consumers. Now demonstrate what happens to profit if more advertising raises the costs to the firm.
-
For each of the following situations, calculate the \(t\)-statistic \((t)\) : a. \(\mathrm{X}^{-}=.45 ; \mu=.52 ; s=.17 ; N=56\) b. \(\mathrm{X}^{-}=7.75 ; \mu=6 ; s=3.98 ; N=40\) c....
-
Martial Arts R Us (MARU) needs a database. MARU is a martial arts school with hundreds of students. It is necessary to keep track of all the different classes that are being offered, who is assigned...
-
How much money needs to be set aside every year, for the next 10 years, to purchase a crane? The money is expected to earn 7% interest compounded annually and yearly inflation is expected to be 4%....
-
The accountant for Compton Inc. has collected the following information: a. Compton purchased a tract of land from Jacobsen Real Estate for $925,000 cash. b. Compton issued 2,000 shares of its common...
-
The accounting records for L. Harper Associates, Inc., for the year ended September 30, 2012, contain the following information: a. Purchase of fixed assets, $58,400 b. Proceeds from issuance of...
-
To prepare the statement of cash flows, accountants for Kemp Industrial, Inc., summarized 2012 activity in the Cash account as follows: Requirement 1. Prepare the statement of cash flows of Kemp...
-
Consider the study design and summary data presented in Exercise 12.2.7 to examine the relationship between fungus growth and latisaric acid concentration. (a) Is this study an observational study or...
-
On October 1, Alpha purchased land for $150,000, paying $50,000 cash and issuing a 2-year, 4% note for the balance. The AJE for the interest that should be recorded on December 31 for the first year...
-
What is tolerable misstatement? The term "substantive" comes from ?
-
If $6,000 was paid for six months' worth of rent, what amount would you debit to rent expense at the end of every month?
-
EasyDelivery Corporation purchased equipment on July 18 of Year 6 for $500,000. The estimated useful life is 8 years, and the residual value is $50,000. On March 24 of Year 12, they sold the...
-
Is manual handling required? 4.2 Do large forces have to be exerted? 4.3 Does the work involve lifting or twisting, bending, stooping, or reaching? 4.4 Is muscular work mainly static or dynamic? 4.5...
-
The experiment in Exercise 12.33 was redesigned so that the reaction started with 0.15 mol each of N 2 and O 2 being injected into a 1.0-L container at 2500 k. The equilibrium constant at 2500 K is...
-
The vapor pressure of the liquid NH, is measured at different temperatures. The following vapor pressure data are obtained. Temperature, K P, mmHg 217.1 223.4 234.7 588.1 Calculate the enthalpy of...
-
Describe how using a systems development methodology is in line with CMM goals and can help an organization increase its maturity level.
-
Presented here are long-term liability items for Borders Inc. at December 31, 2012. Prepare the long-term liabilities section of the balance sheet for Borders Inc. Bonds payable (due 2016)...
-
Presented here are liability items for Azarian Inc. at December 31, 2012. Prepare the liabilities section of Azarian??s balance sheet. Accounts payable Notes payable (due May 1, 2013) Bonds payable...
-
The 2009 adidas financial statements contain the following selected data (in millions). Compute the following values and provide a brief interpretation of each.(a) Working capital. (b) Current ratio....
-
You hear that there is a rumor accusing you of causing a coworker's dismissal. How should you respond? Report the gossipers to your supervisor. Start spreading a counter - rumor with the correct...
-
Who or what did Edwards Deming blame for the problems in American mantelfacturing?
-
O'Neill contrasts the Kantian and utilitarian views about the nature and extent of our moral obligations to famine victims. What is the element ( s ) of these views do you find especially attractive...
Study smarter with the SolutionInn App