Prepare companys statement of cash flows for year ended

Assignment Help Financial Accounting

Reference no: EM13776925

Jelly Bean, Inc., began 2012 with cash of $53,000. During the year Jelly Bean earned revenue of $597,000 and collected $621,000 from customers. Expenses for the year totaled $437,000, of which Jelly Bean paid $427,000 in cash to suppliers and employees. Jelly Bean also paid $145,000 to purchase equipment and a cash dividend of $54,000 to its stockholders during 2012.

Requirement

1. Prepare the company’s statement of cash flows for the year ended December 31, 2012. Format operating activities by the direct method.

Reference no: EM13776925

Questions Cloud

The style rule below gives a monochrome colour scheme : The style rule below gives a monochrome colour scheme? body{ background-color: hsl(0,50%,75%); color: hsl{1,50%,25%);} a)true b)false 16. In class, we saw dark blue is specified by #000055, Suppose Css4 will offer colour specification using a base-12..

Baird inc. company produces two different components : Baird Inc. Company produces two different components (A and B) for a major manufacturer. The manufacturer notifies the Baird sales office each quarter of its monthly requirements for components for each of the next three months. The monthly requireme..

Contribution of the property to newly organized corporation : Michelle owns appreciated property and she wants to use this property to start a business with her son, Lance. Michelle is considering making a contribution of the property to a newly organized corporation in exchange for 100 percent of the corporate..

Prepare companys statement of cash flows for year ended : Jelly Bean, Inc., began 2012 with cash of $53,000. During the year Jelly Bean earned revenue of $597,000 and collected $621,000 from customers. Expenses for the year totaled $437,000, of which Jelly Bean paid $427,000 in cash to suppliers and employe..

Benefit discriminates in favor of key employees : Cydnee is 42 years old. Her employer provides her with $300,000 of group term life insurance as a fringe benefit. The policy costs her employer $40 per month. For tax purposes, how much income does Cydnee have if: The benefit discriminates in favor o..

Final research issue and research plan : Related to the one you just respond- Final Research Issue and Research Plan In Unit 1, you submitted three potential legal research project questions, and received feedback from your instructor to help you narrow down which question to select for you..

Bond with quarterly coupons has redemption value : A N=2 year $2000 6% bond with quarterly coupons has redemption value $2050. It is purchased to yield 5% convertible quarterly. Construct a bond amortization table for the n = 8 quarters.

Outstanding accounts receivable will be collectible : Before adjustments for bad debt, company H ended 2014 with regular balances in accounts receivable and the allowance for doubtful accounts of 35,000 and 300 respectively. The company recognized 250,000 of credit sales during the year. They estimate 2..

User Account

All Pages