Question Details
[answered] MANAGEMENT 120A CASE ASSIGNMENT 1 Cash Flow Statement Analy
Could someone provide the answers to the attachment?
MANAGEMENT 120A CASE ASSIGNMENT 1 Cash Flow Statement Analysis
The following is Crash Zone Corporation?s balance sheet at the end of 2013 and its cash
flow statement for 2014. Crash Zone manufactures safety equipment for race cars.
The following is the balance sheet for Crash Zone for 2013.
Crash Zone Corp.
Balance Sheets Decem ber 31
2013 Assets
Current assets
Cash $ Accounts receivable - net 8,250
7,110 Inventory 14,221 Prepaid assets 1,850 Total current assets 31,431 Land 30,278 Buildings and equipment 222,665 Less: Accumulated depreciation,
buildings and equipment
Total assets (41,115)
$ 243,259 Liabilities and Stockholders' Equity
Current liabilities
Accounts payables
Accrued expenses
Total current liabilities
Long-term debt $ 13,500
4,888
18,388
31,500 Stockholders' equity
Common stock, $10.00 par value
Paid-in-capital
Retained earnings
Less: Treasury stock
Total liabilities and stockholders' equity 21,552
45,002
146,872
(20,055)
$ 243,259 Page | 1 The following is the statement of cash flows for 2014:
Crash Zone Corp.
Cash Flow Statements
For the year ended December 31, 2014
Operating Activities
Net Income $ 15,750 Plus (minus) noncash items:
Depreciation expense 6,210 Plus (minus) changes in current asset and liability accounts
- Increase in inventory (350) + Decrease in prepaid assets 102 Decrease in accrued expenses (655) - Increase in accounts receivable (3,178) - Decrease in accounts payable
Cash provided by operating activities (1,230)
$ 16,649 Investing Activities
Purchase of equipment $ (27,910) Proceeds from the sale of land
Cash used by investing activities 6,555
$ (21,355) Financing Activities
Issuance of long-term debt $ Issuance of common stock 8,900
23,000 Cash dividends paid (12,200) Purchase of treasury stock (7,513) Cash provided by financing activities $ 12,187 Net cash flow $ 7,481 Additional information:
a. During 2014, 500 shares of common stock were sold to the public.
b. Land was sold during 2014 at an amount equal to its original cost.
Required:
Use the preceding information to derive Crash Zone?s balance sheet at the end of 2014. Page | 2
Solution details:
Answered
QUALITY
Approved
ANSWER RATING
This question was answered on: Sep 18, 2020
Solution~0001013450.zip (25.37 KB)
This attachment is locked
We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this Question
STATUSAnswered
QUALITYApproved
DATE ANSWEREDSep 18, 2020
EXPERTTutor
ANSWER RATING
GET INSTANT HELP/h4>
We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
- As a reference for in-depth understanding of the subject.
- As a source of ideas / reasoning for your own research (if properly referenced)
- For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
NEW ASSIGNMENT HELP?
Order New Solution. Quick Turnaround
Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.
WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.
