PLUS Kimmel, Accounting Tools for Business Decision Making, se MAN AssignmentG O
ID: 2431849 • Letter: P
Question
PLUS Kimmel, Accounting Tools for Business Decision Making, se MAN AssignmentG Open Assignment 13-9 (Part Level Submission) Corporation's comparative balance sheets are presented below RODRIQUEZ CORPORATION Comparative Sheets 31 2017 2016 $16,700$17,500 22,300 15,850 69,950 Accounts receivable 25,100 19,850 60,050 Equipment Accumulated depreciation-equipment (14,150) (10,100) Total $107,550 $115,500 Accounts payable Bonds payable Common stock Retained earnings $14,750 11,000 49,900 31,900 $107,550 $11,150 30,000 45,300 29,050 $115,500 Total Additional information: 1. Net income was $18,250. Dividends declared and paid were $15,400. 2. Equipment which cost $9,900 and had accumulated depreciation of $2,000 was sold for $3,400. 3. No noncash investing and financing activities occurred during 2017 ere to searchExplanation / Answer
RODRIQUEZ CORPORATION
Statement Cash Flows
For the year ended December 31st 2017
Cash Flow from Operating Activities:
Net Income
$ 18,250.00
Add: Adjustments
Depreciation Expense
$ 6,050.00
Loss on Disposal of Equipment
$ 4,500.00
Increase in Accounts Receivables
$ (2,800.00)
Increase in Accounts Payable
$ 3,600.00
$ 11,350.00
A. Net Cash Provided by Operating Activities
$ 29,600.00
Cash Flow from Investing Activities:
Sale of Equipment
$ 3,400.00
Purchase of Investment
$ (4,000.00)
B. Net Cash Used in Investing Activities
$ (600.00)
Cash Flow from Financing Activities:
Retirement of Bonds
$ (19,000.00)
Issuance of Common Stock
$ 4,600.00
Payment of Dividend
$ (15,400.00)
C. Net Cash Provided by Financing Activities
$ (29,800.00)
Net Decrease in cash [A+B+C]
$ (800.00)
Add: cash at the beginning
$ 17,500.00
Cash at the end
$ 16,700.00
Free Cash flow=
(Cash from Operating Activities-Cash Used in Investing Activities)
Free Cash flow=
(29600-600)
Free Cash flow=
$ 29,000.00
RODRIQUEZ CORPORATION
Statement Cash Flows
For the year ended December 31st 2017
Cash Flow from Operating Activities:
Net Income
$ 18,250.00
Add: Adjustments
Depreciation Expense
$ 6,050.00
Loss on Disposal of Equipment
$ 4,500.00
Increase in Accounts Receivables
$ (2,800.00)
Increase in Accounts Payable
$ 3,600.00
$ 11,350.00
A. Net Cash Provided by Operating Activities
$ 29,600.00
Cash Flow from Investing Activities:
Sale of Equipment
$ 3,400.00
Purchase of Investment
$ (4,000.00)
B. Net Cash Used in Investing Activities
$ (600.00)
Cash Flow from Financing Activities:
Retirement of Bonds
$ (19,000.00)
Issuance of Common Stock
$ 4,600.00
Payment of Dividend
$ (15,400.00)
C. Net Cash Provided by Financing Activities
$ (29,800.00)
Net Decrease in cash [A+B+C]
$ (800.00)
Add: cash at the beginning
$ 17,500.00
Cash at the end
$ 16,700.00
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