Question 1 (of 2) value: 1.50 points The comparative balance sheets for 2016 and

Question

Question 1 (of 2) value: 1.50 points The comparative balance sheets for 2016 and 2015 and the statement of income for 2016 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2016 and 2015 S in 000s) 2016 2015 Assets Cash Accounts receivable Dividends receivable inventory Long-term investment Land Buildings and equipment $ 125 S 40 38 67 0095 5450 90 85 162 200 (38) (80) $ 535 $460 Liabilities Accounts payable Salaries payable Interest payable Income tax payable Notes payable Bonds payable $46 82 10 80 50 Less: Discount on bonds Shareholders' Equity Common stock Paid-in capital-excess of par Retained earnings 210 200 24 20 162 97 (10) Less: Treasury stock (at cost) $ 535 $ 460 DUX COMPANY Income Statement MacBook Ai

Explanation / Answer

Cash Flow Statement of Dux Company:

I) Cash Flow from Operating Activities - Under Direct Method:

II) Cash Flow from Investing Activities:

III) Cash Flow from Financing Activities:

Opening Cash Balance ( Given in the Balance Sheet Above) = 40

Add : Cash & Cash Equivalents from Operating, Investing & Financing Activities - i.e. G+ H+ I = 85

Closing Cash Balance as per Balance Sheet   125  

Cash receipt from Customers ( Opening Receivable 67+ Current Year Sales 400 - Closing receivables 38) - A 429 Cash Paid to Suppliers ( Opening Payable 82 + Cost of Goods Sold 220 - Closing Payable 46) - B -256 Cash paid to Employees ( Opening Salary Payable 9 + Salary Expense 38 - Closing Salary payable 6) - C -41 Cash Flows (A+B+C) = D 132 Less: Interest Paid(Opening Interest Payable 2 + Interest expense 10 - Closing Interest payable 7) - E -5 Less: Tax Paid (Opening Tax Payable 6 + Tax Expense 33 - Closing Tax Payable 5) - F -34 Net Cash Flows from Operating Activities - G (D+E+F) 93

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