Professional Documents
Culture Documents
Exercise/
Problem
Ch 1 Ex 2
Ch 1 Ex 3
Ch 1 Ex 6
Ch 1 Pb 2
CH 1 Pb 3
Ashford
Gu
Account to
be changed
Net income
Depreciation
Accounts payable
Original
Amount
12600
21000
Questions
YOUR ANSWERS
BASED UPON
COURSE START
DATE (Mar-Apr)
Net Income
Accounts receivable
Inventory
Accounts payable
Depreciation
Cash Flow from Operating Activities
Account to
be changed
Net Income
Trade accounts receivable
Merchandise inventory
Accumulated depreciation: equipment
Accounts payable
Accrued liabilities
Gain on sale of investments
Original
Amount
110000
18000
230000
120000
190000
38000
18000
YOUR ANSWERS
BASED UPON
COURSE START
DATE
Net Income
Trade accounts receivable
Merchandise inventory
Accumulated depreciation: equipment
Accounts payable
Accrued liabilities
Gain on sale of investments
Cash Flow from Operating Activities
Account to
be changed
New equipment purchased
Depreciation expense
Original
Amount
Dec. 31, 20X4
280000
41000
YOUR ANSWERS
BASED UPON
COURSE START
DATE
Cost of equipment sold
Accumulated depreciation of sold equipment
Selling price of equipment sold
Sale of equipment on cash flow statement
Account to
be changed
Accounts payable decreased
Accounts receivable increased
Prepaid expenses increased
wages payable increased
Income taxes payable decreased
Original
Amount
32800
23700
2400
5600
800
YOUR ANSWERS
BASED UPON
COURSE START
DATE
Direct Method
Cash collected
Less cash paid for:
Inventory
Selling & administrative
Interest expense
Income taxes
Net cash provided by operating activities
Indirect Method
Net income
Accounts payable decreased
Accounts receivable increased
Prepaid expenses increased
wages payable increased
Inventory
Income taxes payable decreased
Depreciation
Gain on sale of equipment
Net cash provided by operating activities
Account to
be changed
Accounts receivable (net)
Inventory
Accounts payable
Taxes payable
Sales
Net income
Long tem investments purchased
Sale of land cash proceeds
Store equipment purchased - short term note
Purchased equipment issue 3000 pref shares
Long term note repaid
Common stock issued - shares
Original
Amount
83800
243400
123600
43600
713800
145800
74600
76200
44000
150000
49400
20000
YOUR ANSWERS
BASED UPON
COURSE START
DATE
May-Jun
Jul-Aug
$
113,000 $
115,000
$
16,000 $
18,000
$
24,000 $
25,000
Enter the month (1-12) that you started this class in the colum
Jan-Feb
$
$
$
$
$
$
$
May-Jun
$
$
$
$
$
$
$
112,000
246,000
231,000
121,000
191,000
39,000
18,000
Mar-Apr
$
$
$
$
$
$
$
114,000
248,000
232,000
122,000
193,000
40,000
18,000
116,000
249,000
232,000
124,000
194,000
41,000
18,000
Jul-Aug
$
$
$
$
$
$
$
117,000
250,000
235,000
125,000
195,000
45,000
18,000
Jan-Feb
$
$
Jan-Feb
$
$
$
$
$
Mar-Apr
290,000
42,000
33,800
24,275
2,975
6,175
1,375
$
$
Mar-Apr
$
$
$
$
$
May-Jun
295,000
43,000
34,800
24,850
3,550
6,750
1,950
$
$
May-Jun
$
$
$
$
$
Jul-Aug
296,000
44,000
35,800
25,425
4,125
7,325
2,525
$
$
Jul-Aug
$
$
$
$
$
297,000
45,000
36,800
26,000
4,700
7,900
3,100
Jan-Feb
$
$
$
$
$
$
$
$
$
$
$
84,800
244,400
124,600
44,600
718,000
150,000
75,600
77,200
45,000
151,000
49,900
20500
Mar-Apr
$
$
$
$
$
$
$
$
$
$
$
85,800
245,400
125,600
45,600
723,000
155,000
76,600
78,200
46,000
152,000
50,400
21000
May-Jun
$
$
$
$
$
$
$
$
$
$
$
86,800
246,400
126,600
46,600
728,000
160,000
77,600
79,200
47,000
153,000
50,900
21500
Jul-Aug
$
$
$
$
$
$
$
$
$
$
$
87,800
247,400
127,600
47,600
733,000
165,000
78,600
80,200
48,000
154,000
51,400
22000
ate
Sept-Oct
Nov-Dec
$
120,000 $
121,000
$
20,000 $
21,000
$
26,000 $
27,000
u started this class in the column to the right.
Sept-Oct
$
$
$
$
$
$
$
118,000
255,000
240,000
130,000
200,000
45,000
18,000
Nov-Dec
$
120,000
$
256,000
$
241,000
$
141,000
$
201,000
$
46,000
###
Sept-Oct
$
$
Sept-Oct
$
$
$
$
$
Nov-Dec
298,000
46,000
37,800
26,575
5,275
8,475
3,675
$
$
299,000
47,000
Nov-Dec
$
38,800
$
27,150
$
5,850
$
9,050
$
4,250
Sept-Oct
$
$
$
$
$
$
$
$
$
$
$
Nov-Dec
$
89,800
$
249,400
$
129,600
###
$
748,000
$
180,000
79,600 $
80,600
81,200 $
82,200
49,000 $
50,000
155,000 $
156,000
51,900 $
52,400
22500
23000
88,800
248,400
128,600
43,600
738,000
170,000