Prepare a statement of cash flows

Assignment Help Accounting Basics
Reference no: EM133176553

Question - Birch Corporation's calendar year-end 2019 and 2020 balance sheets showed the following items:

 

2020

2019

Cash

27,000

21,000

Account receivable

43,000

49,000

Merchandise inventory

113,000

97,000

Equipment

96,000

81,000

Acc Dep - Equipment

25,000

16,000

Common shares

135,000

135,000

Retained earnings

119,000

97,000

Additional information about the corporation's activities during 2020 are:

Sales 342,000

COGS 185,000

Gross margin 157,000

Operating expenses:

Depreciation 9,000

Other expenses 108,000

Total operating expenses 117,000

Net income 40.000

No equipment was sold during the year.

Required - Prepare a statement of cash flows for 2020 using the indirect method.

Reference no: EM133176553

Questions Cloud

Good performance management system practices : Describe two (2) justifications for how good performance management system practices can increase employee productivity.
Why is the analysis of Financial Statements important : Explain Horizontal and Vertical Analysis of financial statements and what it helps you to understand about the operations
Landscaping service to primarily residential clients : Question. Based on the information provided, do you think Laney should be engaged as an independent contractor?
What are the current human resources : What are the current human resources (HR) challenges facing DDD?
Prepare a statement of cash flows : Additional information about the corporation's activities during 2020 are: Sales 342,000. Prepare a statement of cash flows for 2020 using the indirect method
Impact of the recent economic crisis : Please could you answer these questions below as a few paragraph for each question as you can?
Explain the impact of the employee engagement : Abc company is a manufacturing company established 10 years ago in Indonesia and focusing on manufacturing healthcare products.
Revising business messages : For your initial post, review your email inbox. Note any work-related or business-related emails. These could be from professionals, bosses, coworkers, or a bus
Existing risk management arrangements and standards : 3. You work for Australia Wide Taxations Solutions-a company of 1,500 employees offering taxation services in different cities across the country.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd