Acc balances transactions

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#1 Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Receivable is $3,400 The starting balance of Cash is $9,000 The starting balance of Inventory is $5,100 1. Receive payment of $10 owed by a customer 2. Buy $16 worth of manufacturing supplies for cash 3. Sell product for $40 with historical cost of $40 What is the final amount in Cash?

#2 Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Accounts Payable is $1,900 The starting balance of Cash is $9,100 The starting balance of Debt is $2,400 The starting balance of Inventory is $4,800 1. Buy $18 worth of manufacturing supplies on credit 2. Borrow $53 from a bank 3. Pay $8 owed to a supplier What is the final amount in Debt?

#3 Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Cash is $8,400 The starting balance of Inventory is $4,200 The starting balance of Retained Earnings is $23,500 1. Pay expense of $2 2. Sell product for $40 with historical cost of $32 3. Sell service for $25 What is the final amount in Retained Earnings?

#4 The T-accounts below summarize transactions of Torche Corporation from February 22 to February 25, 2013:

Cash
Balance 14,700	44
12	4
15
80
58

PP&E, Net
Balance 15,800
44

Accounts Payable
4	Balance 2,400
	15

Other Liabilities
	Balance 5,000

Accounts Receivable
Balance 4,800	12

Other Assets
Balance 900

Debt
	Balance 3,700
	58

Paid-In Capital
	Balance 6,000
	80

Inventory
Balance 3,800	12
15

Retained Earnings
	Balance 22,900
	3

What is the final amount in Total Liabilities & Equity?

Stuart Company Balance Sheet As of March 11, 2013 (amounts in thousands)

Cash	8,400	Accounts Payable	2,800
Accounts Receivable	4,700	Debt	3,400
Inventory	4,200	Other Liabilities	900
Property Plant & Equipment	17,200	Total Liabilities	7,100
Other Assets	2,800	Paid-In Capital	6,700
		Retained Earnings	23,500
		Total Equity	30,200
Total Assets	37,300	Total Liabilities & Equity	37,300

Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, and construct a balance sheet to answer the question. 1. Borrow $52,000 from a bank 2. Purchase equipment for $48,000 in cash 3. Issue $85,000 in stock What is the final amount in Total Assets? Please specify your answer in the same units as the financial statement.

Lightspeed Industries Balance Sheet As of March 11, 2013 (amounts in thousands)

Cash	14,100	Accounts Payable	1,900
Accounts Receivable	3,200	Debt	3,600
Inventory	4,900	Other Liabilities	2,000
Property Plant & Equipment	16,300	Total Liabilities	7,500
Other Assets	500	Paid-In Capital	7,200
		Retained Earnings	24,300
		Total Equity	31,500
Total Assets	39,000	Total Liabilities & Equity	39,000

Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, and construct a balance sheet to answer the question. 1. Issue $80,000 in stock 2. Borrow $65,000 from a bank 3. Receive payment of $12,000 owed by a customer 4. Pay $6,000 owed to a supplier 5. Buy $17,000 worth of manufacturing supplies on credit What is the final amount in Total Assets? Please specify your answer in the same units as the financial statement.

Lightspeed Industries Balance Sheet As of March 11, 2013 (amounts in thousands)

Cash	14,100	Accounts Payable	1,900
Accounts Receivable	3,200	Debt	3,600
Inventory	4,900	Other Liabilities	2,000
Property Plant & Equipment	16,300	Total Liabilities	7,500
Other Assets	500	Paid-In Capital	7,200
		Retained Earnings	24,300
		Total Equity	31,500
Total Assets	39,000	Total Liabilities & Equity	39,000

Use T-accounts to record the transactions below, which occur on March 12, 2013, close the T-accounts, and construct a balance sheet to answer the question. 1. Sell service for $20,000 2. Pay expense of $3,000 3. Sell product for $25,000 with historical cost of $20,000 What is the final amount in Total Assets? Please specify your answer in the same units as the financial statement.

Statement of Cash flows

#3 Siam Traders had Net Income for 2012 of $9,500,000. The firm invested $1,000,000 in manufacturing equipment during 2012. The equipment is being depreciated over five years using straight-line depreciation, starting in 2012. Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2012 with amounts in thousands. What is the Net Cash Flow in 2012? Please specify your answer in the same units as the financial statement.

#4 Valley Technology had Net Income for 2012 of $9,600,000. The firm invested $5,000,000 in manufacturing equipment during 2011 but made no additional capital investments in 2012. The equipment is being depreciated over five years using straight-line depreciation, starting in 2011. Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2012 with amounts in thousands. What is the Net Cash Flow in 2012? Please specify your answer in the same units as the financial statement.

#5 Suppose Siam Traders has the following results related to cash flows for 2012: Net Income of $9,400,000 Increase in Accounts Payable of $800,000 Decrease in Accounts Receivable of $600,000 Decrease in Inventory of $700,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands. What is the Net Cash Flow from Operating Activities? Please specify your answer in the same units as the financial statement.

#6 Suppose Hopewell Corporation has the following results related to cash flows for 2012: Net Income of $8,000,000 Increase in Accounts Payable of $500,000 Increase in Accounts Receivable of $700,000 Depreciation of $1,300,000 Decrease in Inventory of $300,000 Other Adjustments from Operating Activities of -$900,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands. What is the Net Cash Flow from Operating Activities? Please specify your answer in the same units as the financial statement.

#7 Suppose Dansko Integrated has the following results related to cash flows for 2012: Decrease in Debt of $200,000 Dividends of $800,000 Purchases of Property, Plant, & Equipment of $6,700,000 Other Adjustments from Financing Activities of -$600,000 Other Adjustments from Investing Activities of $300,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows for financing and investing activities with amounts in thousands. What is the Net Cash Flow from Financing and Investing Activities? Please specify your answer in the same units as the financial statement.

#8 Suppose Torche Corporation has the following results related to cash flows for 2012: Net Income of $8,500,000 Decrease in Accounts Payable of $400,000 Increase in Accounts Receivable of $800,000 Increase in Debt of $100,000 Depreciation Expenses of $1,600,000 Purchases of Property, Plant, & Equipment of $5,400,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands. What is the Net Cash Flow? Please specify your answer in the same units as the financial statement.

#9 Suppose Stuart Company has the following results related to cash flows for 2012: Net Income of $7,700,000 Decrease in Accounts Payable of $900,000 Decrease in Accounts Receivable of $300,000 Decrease in Debt of $600,000 Depreciation Expenses of $1,700,000 Dividends of $800,000 Increase in Inventory of $800,000 Purchases of Property, Plant, & Equipment of $7,500,000 Other Adjustments from Financing Activities of $300,000 Other Adjustments from Investing Activities of $300,000 Other Adjustments from Operating Activities of $600,000 Create a statement of cash flows with amounts in thousands. What is the Net Cash Flow? Please specify your answer in the same units as the financial statement.