Given the information below, calculate the company's cash balance at the end of the year
Cash Balance at Beginning of Year $80,000
Activity During the Year
Increase in Accounts Payable $60,000
Decrease in Accounts Receivable $40,000
Depreciation Expense $500,000
Net Income $2,000,000
Purchase of Fixed Assets $800,000
Sales of Common Stock $100,000
Decrease in Notes Payable $85,000
Dividends Paid $15,000
Increase in Accounts Payable $60,000 (source)
Decrease in Accounts Receivable $40,000 (source)
Depreciation Expense $500,000 (source)
Net Income $2,000,000
Purchase of Fixed Assets $800,000 (use)
Sales of Common Stock $100,000 (source)
Decrease in Notes Payable $85,000 (use)
Dividends Paid $15,000 (use)
Change in Cash for the Year $1,800,000
Cash Balance at the End of Year = $80,000 + $1,800,000 = $1,880,000
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Indicate whether the statement is true or false.
A company issued 5-year, 7% bonds with a par value of $100,000. The market rate when the bonds were issued was 6.5%. The company received $102,105 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:
A. $6,573.90. B. $3,318.41. C. $1,750.00. D. $3,500.00. E. $7,000.00.
Consider the following five companies and their situations.• Company A is an established online fantasy sports gaming company that has been accused of game-rigging, bribes and kickbacks.• Company B, a ride share company, has delayed its planned initial public offering due to reports of having an inhospitable workplace characterized by sexual harassment and discrimination.• Company C, a pharmaceutical manufacturer, charges higher prices for life-saving drugs in some countries than it charges in others.• Company D, a manufacturer and marketer of high-end consumer electronics, has a strict Code of Conduct that requires its suppliers to comply with several standards regarding safe working conditions, fair treatment of workers, and environmentally safe manufacturing.• Company E, a
pizza delivery business, is a being boycotted by customers and losing sponsored tie-ins with professional sports due to racist comments by its founder and CEO.Which of the above companies is distinguished by an ethical strategy as opposed to an unethical or flawed strategy? A. Company A B. Company B C. Company C D. Company D E. Company E
The general rule is that an assignee stands in the shoes of the assignor. He acquires the rights of the assignor but no new or additional rights
Indicate whether the statement is true or false