d| ? ezto.mheducation.com/hm.tpx The Extra Surplus Company\'s Balance Sheet for
ID: 2523502 • Letter: D
Question
d| ? ezto.mheducation.com/hm.tpx The Extra Surplus Company's Balance Sheet for December 31, 2015 and the Income Statement for 2016 are shown below Balance Sheet Assets Cash Accounts Receivable Inventory Property and Equipment, Net S 12,000 6,000 14.400 24,000 S 56,400 Liabilities and Stockholders' Equity Accounts Payable Notes Payable, Long-Term Common Stock S 12,000 6,000 24,000 14.400 Retained Eamings S 56,400 Extra Surplus Company Income Statement For the Year Ended December 31, 2016 Sales Cost of Goods Sold Salaries and Wage Expense Interest Expense Other Expenses S 18.200 4,200 4.200 1,400 700 Net Income $ 7,700 Additional data O Type here to search upExplanation / Answer
Extra Surplus Company Balance sheet as at December 31, 2016 Assets Cash 13500 Accounts Receivable 13000 Inventory 10200 Property, Plant & Equipment - Net 31000 Total assets 67700 Liabilities and stockholder's equity Accounts payable 4100 Other expenes Accrued 700 Notes payable- Long term 4600 Common Stock 38000 Retained earnings 20300 Total Liabilities and stockholder's equity 67700 Extra Surplus Company Statement of Cash Flows Cash flow from operating activities Collection from customer 11200 Payment to suppliers -7900 Payment to employess -4200 Net Cash flow from operating activities A -900 Cash flow from Investing activites Sale of Land 7000 Purchase of land -14000 Net Cash flow from Investing activites B -7000 Cash flow from Financing activites Repayment of Notes-Long term -1400 Interest paid on Notes-long term -1400 Proceeds from issuance of new shares 14000 Cash Dividends -1800 Net Cash flow from Financing activites C 9400 Net cash flow A+B+C 1500 Add : Beginning cash balance 12000 Ending Cash Balance 13500
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.