Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Financial Accounting Expert

The changes in each balance sheet account for Bryan Company during the year just completed are as follows:

IncreaseDecrease Cash $5,800 Accounts receivable$6,500 Inventory $5,100 Prepaid expenses$5,900 Long-term investments $33,000 Property, plant and equipment$23,000 Accumulated depreciation$10,000 Accounts payable $13,000 Accrued liabilities$6,600 Bonds payable $31,000 Common stock$14,000 Retained earnings$4,900

Bryan Company's income statement for the year just ended shows the following:

Sales$390,000 Cost of goods sold 225,000 Gross margin 165,000 Selling and administrative expenses 160,100 Net income$4,900

The company did not dispose of any property, plant, and equipment, buy any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. Bryan Company uses the direct method to construct its statement of cash flows.

Required:

a. Determine the sales adjusted to the cash basis. (Omit the "tiny_mce_markerquot; sign in your response.)

Adjusted sales$

b. Determine the cost of goods sold adjusted to the cash basis. (Omit the "tiny_mce_markerquot; sign in your response.)

Adjusted cost of goods sold$

c. Determine the selling and administrative expenses adjusted to a cash basis. (Omit the "tiny_mce_markerquot; sign in your response.)

Adjusted selling and administrative expenses$

d. Determine the net cash provided (used) by operating activities.(Negative amounts should be indicated by a minus sign. Omit the "tiny_mce_markerquot; sign in your response.)

Net cash provided (used) by operating activities$

e. Determine the net cash provided (used) by investing activities.(Negative amounts should be indicated by a minus sign. Omit the "tiny_mce_markerquot; sign in your response.)

Net cash provided (used) by investing activities$

f. Determine the net cash provided (used) by financing activities.(Negative amounts should be indicated by a minus sign. Omit the "tiny_mce_markerquot; sign in your response.)

Net cash provided (used) by financing activities$

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M92523321
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Financial Accounting

Scenario assume that a manufacturing company usually pays a

Scenario: Assume that a manufacturing company usually pays a waste company (by the pound to haul away manufacturing waste. Recently, a landfill gas company offered to buy a small portion of the waste for cash, saving the ...

In its first year of operations cullumber company

In its first year of operations, Cullumber Company recognized $31,800 in service revenue, $6,600 of which was on account and still outstanding at year-end. The remaining $25,200 was received in cash from customers. The c ...

Assessment -part a -saturn petcare australia and new

Assessment - Part A - Saturn Petcare Australia and New Zealand is Australia's largest manufacturer of pet care products. Saturn have been part of the Australian and New Zealand pet care landscape since opening their firs ...

Listed below are selected account balances for pinnacle

Listed below are selected account balances for Pinnacle Corporation at December 31, Year 1 and Year 2.  Also available for you is selected information from the income statement for Pinnacle for the year ended December 31 ...

Company a is a calendar year company that depreciates all

Company A is a calendar year company that depreciates all its machinery on a straight-line basis. On January 1, 2016, the company purchased machinery costing $100,000, with an estimated useful life of 10 years and a zero ...

Asset retirement obligation changes in estimate versus

Asset Retirement Obligation, Changes in Estimate versus Errors, Writing an Issues Memo Facts: Mega¬Corp's corporate headquarters, built in 1970, has asbestos in its insulation. The Company's financial statements reflect ...

At the start of 2013 shasta corporation has 15000

At the start of 2013, Shasta Corporation has 15,000 outstanding shares of preferred stock, each with a $60 par value and a cumulative 7% annual dividend. The company also has 28,000 shares of common stock outstanding wit ...

Question 1 an organization owes pound300000 tax at 17x4 and

Question 1 . An organization owes £300,000 tax at 1.7.X4 and £450,000 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of £400,000. How much tax was actually paid in the year to 30.6.X5?

Assignment -part a -background saturn petcare australia and

Assignment - Part A - Background: Saturn Petcare Australia and New Zealand is Australia's largest manufacturer of pet care products. Saturn have been part of the Australian and New Zealand pet care landscape since openin ...

Sweet treats common stock is currently priced at 3672 a

Sweet treats common stock is currently priced at $36.72 a share. The company just paid $2.18 per share as its annual dividend. The dividends have been increasing by 2,2 percent annually and are expected to continue doing ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As