Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Financial statements for Hilton Company are presented below: Hilton Company Balance Sheet December 31, 2012 Assets Liabilities & Stockholders' Equity Cash $ 40,000 Accounts payable $ 20,000 Accounts receivable 35,000 Bonds payable 50,000 Buildings and equipment 150,000 Common stock 65,000 Accumulated depreciation- Retained earnings 60,000 buildings and equipment (50,000) $195,000 Patents 20,000 $195,000 Hilton Company Statement of Cash Flows For the Year Ended December 31, 2012 Cash flows from operating activities Net income $60,000 Adjustments to reconcile net income to net cash provided by operating activities: Increase in accounts receivable $(16,000) Increase in accounts payable 8,000 Depreciation-buildings and equipment 15,000 Gain on sale of equipment (6,000) Amortization of patents 2,000 3,000 Net cash provided by operating activities 63,000 Cash flows from investing activities Sale of equipment 12,000 Purchase of land (25,000) Purchase of buildings and equipment (48,000) Net cash used by investing activities (61,000) Cash flows from financing activities Payment of cash dividend (15,000) Sale of bonds 30,000 Net cash provided by financing activities 15,000 Net increase in cash 17,000 Cash, January 1, 2012 23,000 Cash, December 31, 2012 $40,000 At the beginning of 2012, Accounts Payable amounted to $12,000 and Bonds Payable was $20,000. Instructions find out the following for Hilton Company: Current cash debt coverage ratio: Cash Debt coverage ratio: Free cash flow:

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M948111

Have any Question? 


Related Questions in Accounting Basics

Focus of the final paperyouve just been hired onto abc

Focus of the Final Paper You've just been hired onto ABC Company as the corporate controller. ABC Company is a manufacturing firm that specializes in making cedar roofing and siding shingles. The company currently has an ...

1 regarding the ottoman territories during the period

1. Regarding the Ottoman territories during the period immediately following World War I, which of the following statements is false? A. Defying Allied pressure, the Turkish sultan supported Kemal. B. In 1921, Greek forc ...

1identify the impact on operating cash flows increase or

1. Identify the impact on operating cash flows (increase or decrease) for changes in inventory levels (increase or decrease) for both companies for each of the three most recent years. Use Excel for your analysis. See Ch ...

Question 1 tonys textile company sells shirts for men and

Question 1: Tony's Textile Company sells shirts for men and boys. The average selling price and variable cost for each product are as follows: Men's Boy's Selling Price $28.80 Selling Price $24.00 Variable Cost $20.40 Va ...

Problemin an annual audit on december 31 2016 novelty

Problem In an annual audit on December 31, 2016, Novelty company provided the following transactions: 1. Merchandise was received on January 8, 2017, and related purchase invoice recorded on January 5, 2017. The invoice ...

Question 1the following transactions occurred during july o

Question 1 The following transactions occurred during July: o Received $900 cash for services provided to a customer during July. o Received $2,200 cash investment from Barbara Hanson, the owner of the business. o Receiv ...

Ginos restaurant is a popular restaurant in boston

Gino's Restaurant is a popular restaurant in Boston, Massachusetts. The owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based cos ...

Assignmentguidelines for individual case assignment cutting

Assignment Guidelines for Individual Case Assignment: Cutting Edge Instructions This is an individual assignment and therefore must be completed by the individual student without outside assistance. In order to complete ...

Key information for the plant city divisionkey information

Key Information For The Plant City Division Key information for the Plant City Division (PCD) of Barkley Industries for 2015 are as follows: Revenues $15,000,000 Operating Income 1,800,000 Total Assets 10,000,000 PCD man ...

1 the objective of a firms management should be to only

1. The objective of a firm's management should be to only undertake the projects that ________ the market value of shareholders' equity. a. decrease b. increase c. do not change d. provide zero change to e. none of the a ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen