The balance in the cash account at the beginning of the year

Assignment Help Managerial Accounting
Reference no: EM13965973

Estes Company listed the net changes in its balance sheet accounts for the past year as follows:

2343_260-B-M-A-F-S-A (1317)-1.png

The following additional information is available about last year's activities:

a. Net income for the year was $ ? .
b. The company sold equipment during the year for $35,000. The equipment originally cost the company $160,000, and it had $145,000 in accumulated depreciation at the time of sale.
c. The company declared and paid $10,000 in cash dividends during the year.
d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below:

913_260-B-M-A-F-S-A (1317)-2.png

e. The balance in the Cash account at the beginning of the year was $109,000; the balance at the end of the year was $ ? 
f. If data are not given explaining the change in an account, make the most reasonable assumption as to the cause of the change.

Required:

Using the indirect method, prepare a statement of cash flows for the year. 

Reference no: EM13965973

Questions Cloud

Can you use any of the information you learned in your life : Can you use any of the information you learned in your own life? If so, what and how? What is your opinion about this/these program(s)?
Proposition involving the probability : 1. Apply the proposition involving the probability of A U B to the union of the two events (A U B) and C in order to verify the result for P(A U B U C ).
Calculate six-year projection for joyces unlevered cash flow : Calculate six-year projections for Joyces unlevered cash flows (aka "free cash flow"). Remember to include cash flows from the income statement, changes in net working capital, and capital expenditures or dispositions.
Interview four candidates for a job : A personnel manager is to interview four candidates for a job. These are ranked 1, 2, 3, and  4 in order of preference and will be interviewed in random order.
The balance in the cash account at the beginning of the year : The balance in the Cash account at the beginning of the year was $109,000; the balance at the end of the year was $ ?
Write an essay on the films myarchitect : Write an essay on the films Myarchitect. Also, each body paragraph should show good reading skills. Show that you dug deeply into the film, the art, and the reading material.
Developing a high-performance workplace : Review Chapter 9 in your course text, The Art of Leadership. Focus on Table 9-3, Practical Tips for Developing a High-Performance Workplace
What problems relating to the company : What problems relating to the company's activities are revealed by the statement of cash flows that you have prepared?
Describe the criminal event - offender and victim : What type of crime occurred? Is it a minor crime or serious crime? Is it a property crime or a violent crime? Is it common? What do our data sources say about the occurrence of this crime?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  How a time driven abc cost system can be implemented

Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

  Difference in profit under each of the alternatives

What is the difference in profit under each of the alternatives if the clocks are to be sold for $21 each to Target?

  The cost of goods sold

Refer to the information in Exercise 6-7. Ending inventory consists of 45 units from the March 14 purchase,

  What is the expected value of perfect information

Tversky and Kahneman describe three types of heuristics that people use in judgments under uncertainty. What do they mean by the term heuristics? Briefly describe the ones that they mention

  Compute the average price per teddy bear needed

Provide a formal income statement with appropriate headings to show the operating income for the year 2011 under absorption costing approach.

  What is the expected rate of return to an investor

What is the expected stock price 4 years from now? The discount rate is 10%. What is the expected rate of return to an investor who buys the stock now and sells it in1 year?

  Computing and interpret operating and cash cycles

Consider the following financial statement information for the Bulldog Icers Corporation: Calculate the operating and cash cycles. How do you interpret your answer?

  Questionthe each of the following independent situations

questionthe each of the following independent situations state whether the company is following a low cost or a

  Considered different allocation methods

1.In the previous chapters, we considered different allocation methods and considered which one might be "better."

  Sager company manufactures variations of its product

Sager Company manufactures variations of its product, a technopress, in response to custom orders from its customers.

  How the selected system would work to track the costs

Describe how the selected system would work to track the costs of the product and identify the cost driver, and explain the process of tracking the costs.

  Determine the company break-even point

Green with Envy provides environmentally friendly lawn services for homeowners. Its operating costs are as follows.

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