value: 5.00 points Condensed financial data of Monopoly Corporation appear below

Question

value: 5.00 points Condensed financial data of Monopoly Corporation appear below: A cash dividend was declared and paid in full to stockholders during the year Required Solve for the missing numbers. (Enter any deductions and cash outflows as a negative value.) MONOPOLY CORPORATION Comparative Balance Sheet December 31 Current Year Prior Year Assets Cash Accounts receivable Inventories Prepaid rent Property, plant, and equipment Accumulated depreciation Total assets $ 29,060$ 19,600 31,400 69,400 1,400 94,000 (37,000) $315,700$ 278,800 1,840 215,000 (51,400) Liabilities and Stockholders' Equity 33,400 11,400 44,000 22,000 68,000 278,800 $36,800$ Accounts payable Accrued Liabilities Notes payable (long-term) Contributed capital Retained earnings Total liabilities and stockholders' equity 10,000 127,000 44,000 97,900 315,700

Explanation / Answer

Computation of missing figures For balance sheet items Current year Account receivables =previous year Account receivables - Increse in account receivables =$31400+$3400=$34800 Current year inventory = Privous year inventory - Increse in inventory =$69400+$17000 =$86400 For income Statement Depreciation Expenses = as Speciafed in the cash flow statement operating Activities =$14,400 Income taxes =Total expenses - Cost of goods sold - selling &admin expenses-depreciation - Interest =$414,200 - $284000-$91000-$14400-$8400=$16400 For Cash Flow Statement Change in prepaid rent =$1400-$1840= ($440) Change (decrese) in Account Liabilities =10,000 -11400=(1400) net cash from Operating activiteis = $39300+$14400+[ - 3400 -17000-440+3400-1400) =$34860 Additional capital contributed by stake holders =$44000-$22000 =$22000 payment of cash dividends =Net Income - Increse in retained Earnings =$39300 - ($97900-$68000) = ($9400) Net cash Provided by Financing activities =$22000 - $17000-$9400 =($4400) Amount in $ net Cash flow from operating Activities 34860 Net cash flow from Investing activities -21000 Net cash flow from Financing activities -4400 Increse in cash & cash Equalents 9460 cash & Cash Equalents beginning of the year 19600 cash & Cash Equalents Ending of the year 29060 0

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