11a. Alpha\'s Company\'s Fiscal Year 2017 Statement of Cash Flows reflected info
ID: 2331074 • Letter: 1
Question
11a. Alpha's Company's Fiscal Year 2017 Statement of Cash Flows reflected information that cash provided by operating activities was $800,000. The following additional information was provided:
Depreciation Expense
$380,000
Common Stock Dividends
200,000
Accounts Receivable increase
110,000
Accounts Payable decrease
60,000
Use this information and determine Alpha Company's the Net Income (Net Loss) the 2017 Fiscal Year.
11b. Alpha's Company's Fiscal Year 2017 Statement of Cash Flows reflected information that cash provided by operating activities was $800,000. The Fiscal Year 12/31/17 Balance Sheet showed the value of Retained Earnings to be $625,000. The following additional information was provided:
Depreciation Expense
$380,000
Common Stock Dividends
200,000
Accounts Receivable increase
110,000
Accounts Payable increase
60,000
Use this information and determine Alpha Company's:
a. the Net Income (Net Loss) the 2017 Fiscal Year.
b. the beginning balance for Retained Earnings
Depreciation Expense
$380,000
Common Stock Dividends
200,000
Accounts Receivable increase
110,000
Accounts Payable decrease
60,000
Explanation / Answer
11a)
x + 380000-110000-60000= 800000
x +210000 = 800000
x = 800000-210000
= 590000
Net Income = 590000
11b) Beginning retained earning +Net Income -dividend = Retained earning at end
Y+ 590000 - 200000= 625000
y + 390000= 625000
y= 625000-390000
= $ 235000
beginning balance for Retained Earnings = 235000
Net Incomw/(net loss) xx Depreciation expense 380000 Accounts Receivable increase (110000) Accounts Payable decrease (60000) cash provided by operating activities 800000Related Questions
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