1.Ending Beginning/ 2.Balance Balance Assets Cash and cash equivalents 1. $43 /

Question

1.Ending Beginning/ 2.Balance Balance

Assets
Cash and cash equivalents 1. $43 / 2. $35
Accounts receivable 1. $53 / 2. $59
Inventory 1. $73 / 2. $69
Plant and equipment 1. $582 / 2.$490
Less accumulated depreciation 1. (301) / 2.(286)
_________________________
Total assets 1.$450 / 2. $367




Income Statement

Sales $893
Cost of good sold 587
Gross margin 306
Selling and administrative
Expense 189
Net operating income 117
Income taxes 35
Net income $82

The net cash provided by (used by) operations for the year was

A. $117.
B. $30.
C. $52.
D. $112.

The net cash provided by (used by) financing activities for the year was

A. ($18).
B. $5.
C. ($12).
D. $1.
The net cash provided by (used by) investing activities for the year was

A. ($92).
B. $77.
C. ($77).
D. $92.

Explanation / Answer

Particulars

$

$

Particulars

$

$

Cash flows from operating activities: Net income 82 Depreciation 16 Adjustments to reconcile the net income: Decrease in accounts receivable 6 Increase in inventory -4 Cash provided by operating activities 100 Cash flows from investing activities: Purchase of plant and equipment -92 Net cash used in investing activities -92 Cash flows from financing activities: 0 Net increase in Cash 8 Cash at the beginning 35 Cash at the ending 43

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