Reference no: EM13917825
The following information was drawn from the year end balance sheets of Long's Wholesale, Inc.:
.png)
Additional information regarding transactions occurring during 2014:
1. Long's Wholesale, Inc., issued $90,000 of bonds during 2014. The bonds were issued at face value. All bonds retired were retired at face value.
2. Common stock did not have a par value.
3. Long's Wholesale, Inc., uses the cost method to account for treasury stock. Long's Wholesale, Inc., did not resell any treasury stock in 2014.
4. The amount of net income shown on the 2014 income statement was $49,000.
Required:
a. Determine the amount of cash flow for the retirement of bonds that should appear on the 2014 statement of cash flows.
b. Determine the amount of cash flow from the issue of common stock that should appear on the 2014 statement of cash flows.
c. Determine the amount of cash flow for the purchase of treasury stock that should appear on the 2014 statement of cash flows.
d. Determine the amount of cash flow for the payment of dividends that should appear on the 2014 statement of cash flows.
e. Prepare the financing activities section of the 2014 statement of cash flows.
|
Controller for a publicly traded company
: Assuming that you are the controller for a publicly traded company, your CFO has asked you to prepare a presentation for the accounting department personnel and the public auditors about the importance of the SOX Act and the requirements and respo..
|
|
Estimate ringers net profits before taxes
: Rimier corp forecasts 647000 for 2016. Assume the firm has fixed costs of 253000 and variable costs amounting to 35% of sales. Operating expenses are estimated to include fixed costs of 34000 and a variable point equal to 9.1% Of sales. Interest expe..
|
|
Incremental profit or loss
: Claire Whitney, a college student is contemplating the following options for her 3-month summer break: (1) Take a summer course which will cost $700 and work half-time making $1,000 per month. (2) Work full time at the local dinner making $2,000 per ..
|
|
Emerging issues of financial statement
: Search the Strayer databases or Internet for hot topics and emerging issues of financial statement fraud and other fraudulent act committed by publically traded companies, including those identified by the PCAOB. Consider the topics, trends, and l..
|
|
Prepare the financing activities section
: The following information was drawn from the year end balance sheets of Long's Wholesale, Inc.:
|
|
Firm is contemplating-order processing costs
: Your firm is contemplating the purchase of a new $625,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $69,000 at the end of that time. You will save $255,000 before..
|
|
List and explain two quantitative risk analysis techniques
: Assume that you are the project manager and the one ultimately responsible for planning and implementing the project plan, you believe that risk management is "everybody's business." Your team understands what risk management is; What are some que..
|
|
Requirements for the feasibility study
: Make recommendations on the requirements for the feasibility study and discuss the pros and cons for the design of SDLC with a recommendation for an optimal time frame for each stage.
|
|
Management with assessing the company risk exposure
: In your role as a corporate controller at Dingwow Inc., you have been charged by senior management with assessing the company's risk exposure to fraud and techniques that could be implemented to detect fraud.
|