Need parts on Investing( only), i don\'t need operating activities or financing,
ID: 2591074 • Letter: N
Question
Need parts on Investing( only), i don't need operating activities or financing, just investing
Fnal STATEMENT OF INCOME For the Year Ended September 30, 2015 ck's, Inc.-Make-up for the discriminating Man 189 189 Sales Total Revenue 48 10 Cost of Sales Salaries Depreciation 16 6 Advertisirn Interest Miscellaneous Income Tax Loss on Sale of Assets 103 Net Income 86 Handsome Jacks, Inc. STATEMENT OF FINANCIAL POSITION September 30, 2015, and September 30, 2014 30-Sep-15 30-Sep-14 ASSETS CASH 84 S 78 ACCOUNTS RECEIVABLE MERCHANDISE PREPAID ADVERTISING EXPENSE 31 36 14 60 53 -26 230$ AVAILABLE-FOR-SALE INVESTMENTS (LONG-TERM) PLANT ASSETS ACCUMULATED DEPRECIATION 63 34 -20 208 TOTAL ASSETS LIABILITIES AND EQUITY ACCOUNTS PAYABLE ACCRUED SALARIES PAYABLE INTEREST PAYABLE BONDS PAYABLE 13 8 4 4 78 50 10 76 230 $ 6 68 50 10 58 208 COMMON STOCK ($1 Par Value) PAID-IN-CAPITAL EXCESS OVER PAR-COMMON STOCK RETAINED EARNINGS TOTAL LIABILITIES AND EQUITY Additional Info: Plant assets were purchased for cash this year-$30 Market value of a share of stock is $17.20 as of 9/30/15 structions: Prepare a Statement of Cash Flows (using the direct method to present the operating activities) Prepare a schedule reconciling Net Income to cash provided by (Used in) operating activities 2Explanation / Answer
1 calculation of cash flow from investing activity 1 sale of available for sale investment 63-60 3 2 purchase of plant assets -30 3 sale proceeds of plant assets note 7 4 cash flow from investing activity ( 1 + 2 + 3 ) -20 note plant assets actually sold for 1 opening value of assets 34 2 purchased for cash 30 3 total ( 1 + 2 ) 64 4 closing value 53 5 book value of the asset sold ( 3 - 4 ) 11 6 loss on sale of assets 4 7 plant actually sold for ( 5 - 6 ) 7
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