Annual financial statements for the stockholders

Assignment Help Accounting Basics

Reference no: EM13257347

NITSU Manufacturing Corporation is preparing the annual financial statements for the stockholders. A statement of cash flows must be prepared. The following data on cash flows were developed for the entire year ended December 31, 2009: cash collections from sales, $270,000; cash expended for operating expenses, $180,000; sale of unissued NITSU stock for cash, $30,000; cash dividends declared and paid to stockholders during the year, $22,000; and payments on long-term notes payable, $80,000. During the year, a tract of land held as an investment was sold for $15,000 cash (which was the same price that NITSU had paid for the land in 2008), and $38,000 cash was expended for two new machines. The machines were used in the factory. The beginning-of-the-year cash balance was $63,000.

Reference no: EM13257347

Questions Cloud

Briefly explain the conceptual model : In this assignment, we are going to discuss the conceptual Model of Effective Computer Based Instruction for Adults. Please respond to all of the following prompts You are preparing a report in preparation for developing new Computer Based Instruc..

Determine an estimate for the self and mutual inductances : The DC resistance of the primary windings of a certain transformer is found to be 22ohm while the resistance of the secondary windings is 0.8ohm. When a 60 Hz sinusoidal source is connected to the primary "with the secondary open circuited"

Present value of future sales : A new ice cream machine has been added to Dairy Queen - It is expected to add $100,000 in sales in year 1 increasing by $25,000 per year thru year 10 ( 10years total) what is the present value of these future sales if interest is 8%

Write an essay comparing the burial practices : Write an essay comparing the burial practices of saudi arabia culture with that of Hector's (from "The Iliad") and /or the practice described in Pericles' "Burial Oration."

Annual financial statements for the stockholders : NITSU Manufacturing Corporation is preparing the annual financial statements for the stockholders. A statement of cash flows must be prepared. The following data on cash flows were developed for the entire year ended December 31, 2009:

Compute oh and ph in a solution : Calculate [OH-] and pH in a solution in which dihyroden phosphate ion, H2PO4-, is 0.355M and hydrogen phosphate ion, HPO4 2- is

What is the minimum power that must be supplied to frrezer : To maintain a freezer box at -40°C on a summer day when the ambient temperature is 27°C, heat is removed at the rate of 1.25 kW. What is the maximum possible coefficient of performance of the freezer

Contrast controlled experiments-multi-variate testing : Compare and contrast Controlled Experiments, Multi-Variate Testing and A/B Testing by defining each, providing a short example, and listing 3 pros and 3 cons of each method.

Calculate escape velocity for mars : Calculate Escape Velocity for Mars (mass = 6.42 x 1023 kg, radius = 3397km). Is it easier to launch a rocket from Mars than the Earth

User Account

All Pages