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3 years ago

Condensed financial data of Monty Company for 2020 and 2019 are presented below.

Business

1 answer:

bija089 [108]3 years ago

7 0

Answer:

Monty Company

Statement of Cash Flows

December 31, 2020

Cash flows from operating activities

Net income $790

Adjustments to reconcile net income $40

+ depreciation expense $40

+ decrease in inventory $260

+ increase in accounts payable $300

- gain from sale of investments ($80)

- increase in accounts receivable ($430)

- decrease in accrued liabilities ($50)

Net cash flow from operating activities $830

Cash flows from investing activities

Sale of long term investments $140

Gain from sale of investments $80

Purchases of P, P & E ($190)

Net cash flow from investing activities $30

Cash flow from financing activities

Issuance of Common Stocks $210

- Payments of long term debt ($160)

- Dividends paid ($260)

Net cash from financing activities ($210)

Net increase in cash $650

+ Beginning cash balance $1,160

Ending cash balance $1,810

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3 years ago

Read 2 more answers

. Intellus has long-term debt of $5 million, owners' equity of $7.5 million, current assets of $1 million, gross fixed assets of

stich3 [128]

Answer:

- $0.5 million

Explanation:

The computation of the net working capital is shown below:

We know that

Net working capital = Current assets - current liabilities

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Current assets = $1 million

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= $20 million - $7 million

= $13 million

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3 years ago

how do free cash flows available for debt and equity stakeholders differ from free cash flows available for common equity shareh

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The value of free cash flows for common due to the fact that they are made up of funds available for distribution to shareholders as dividends. Alternatively, this is Distributable Cash.

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#SPJ4

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At the end of the current year, using the aging of receivable method, management estimated that $18,000 of the accounts receivab

guapka [62]

Answer:

Dr Bad Debt Expense $18,450

Cr Allowance for Doubtful Accounts

$18,450

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Preparation of the appropiate adjusting journal entry that the company should make at the end of the current year to record its estimated bad debts expense

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