Stacy Equipment Company presents the following information for 20C -Net income for the year 20C was $10,000.

| September 29, 2018

1. Stacy Equipment Company presents the following information for 20C: • Net income for the year 20C was $10,000. • Accounts receivable decreased $4,000, • Inventories increased $8,000 • Accounts payable decreased $14,000. • Wages payable increased $2,000• Depreciation expense was $15,000. • During the year, a piece of land held for future expansion was sold for $20,000 • A new service truck was purchased for $28,000. • The company borrowed $35,000 on a three-year note from the bank. • Dividends of $2,000were paid in cash. • Declared $3,000 of stock dividends • Sold equipment $1000 in exchange for a smaller equipment. • The beginning cash balance was $20,000 Determine cash flows from operating activities using the indirect method 2. Stacy Equipment Companypresents the following information for 20C: • Net income for the year 20C was $10,000. • Accounts receivable decreased $4,000, • Inventories increased $8,000 • Accounts payable decreased $14,000. • Wages payable increased $2,000 • Depreciation expense was$15,000. • During the year, a piece of land held for future expansion was sold for $20,000 • A new service truck was purchased for $28,000. • The company borrowed $35,000 on a three-year note from the bank. • Dividends of $2,000 were paid in cash. • Declared$3,000 of stock dividends • Sold equipment $1000 in exchange for a smaller equipment. • The beginning cash balance was $20,000 How much is cash flows from investing activities? 3. Stacy Equipment Company presents the following information for 20C: • Net incomefor the year 20C was $10,000. • Accounts receivable decreased $4,000, • Inventories increased $8,000 • Accounts payable decreased $14,000. • Wages payable increased $2,000 • Depreciation expense was $15,000. • During the year, a piece of land held for futureexpansion was sold for $20,000 • A new service truck was purchased for $28,000. • The company borrowed $35,000 on a three-year note from the bank. • Dividends of $2,000 were paid in cash. • Declared $3,000 of stock dividends • Sold equipment $1000 in exchangefor a smaller equipment. • The beginning cash balance was $20,000 How much is cash flows from financing activities? 4. Stacy Equipment Company presents the following information for 20C: • Net income for the year 20C was $10,000. • Accounts receivable decreased$4,000, • Inventories increased $8,000 • Accounts payable decreased $14,000. • Wages payable increased $2,000 • Depreciation expense was $15,000. • During the year, a piece of land held for future expansion was sold for $20,000 • A new service truck was purchasedfor $28,000. • The company borrowed $35,000 on a three-year note from the bank. • Dividends of $2,000 were paid in cash. • Declared $3,000 of stock dividends • Sold equipment $1000 in exchange for a smaller equipment. • The beginning cash balance was $20,000How much is the net change in cash account during the year? 5. Stacy Equipment Company presents the following information for 20C: • Net income for the year 20C was $10,000. • Accounts receivable decreased $4,000, • Inventories increased $8,000 • Accountspayable decreased $14,000. • Wages payable increased $2,000 • Depreciation expense was $15,000. • During the year, a piece of land held for future expansion was sold for $20,000 • A new service truck was purchased for $28,000. • The company borrowed $35,000on a three-year note from the bank. • Dividends of $2,000 were paid in cash. • Declared $3,000 of stock dividends • Sold equipment $1000 in exchange for a smaller equipment. • The beginning cash balance was $20,000 How much is the ending cash balance?

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