Please answer all the boxes in red CORRECTLY for a thumbs-up. Menu Options 1: Ca
ID: 2582439 • Letter: P
Question
Please answer all the boxes in red CORRECTLY for a thumbs-up.
Menu Options 1: Cash @ Beginning of Period, Cash @ End of Period, Cash Flows from Financing Activities, Cash Flows from Investing Activites, Cash Flows from Operating Activies, Net Cash Provided by Financing Activities, Net Cash Provided by Investing Activites, Net Cash Provided by Operating Activities, Net Cash Used by Financing Activies, Net Cash Used by Investing Activities, Net Cash Used by Operating Activities, Net Increase in Cash, Net Decrease in Cashh
2: Gain on Sale of Investment, Depreciation Expense, Net Income, Increase in A/R, Decrease in A/R, Loss on Sale of Investment, Dividends from Equity Method Investment, Income from Equity Method Investment
Ballard Co. reported $140,580 of net income for 2014. The accountant, in preparing the statement of cash flows, noted the following items occurring during 2014 that might affect cash flows from operating activities, security. 3, Ballard revised its estimate for bad debts. Before 2014, Ballard's bad debt expense was 1% of its net sales. In 2014, this percentage was increased to 2%. Net sales for 2014 were $506,000, and net accounts receivable 1. Ballard purchased 130 shares of treasury stock at a cost of $20 per share. These shares were then resold at $26 per share 2. Ballard sold 110 shares of IBM common at $200 per share. The acquisition cost of these shares was $170 per share. This investment was shown on Ballard's December 31, 2013, balance sheet as an available-for-sale decreased by $12,750 during 2014. 4. Ballard issued 510 shares of its $12 par common stock for a patent. The market price of the shares on the date of the transaction was $24 per share. 5. Depreciation expense is $42,990. 6. Ballard Co. holds 33% of the Nirvana Company's common stock as a long-term investment. Nirvana Company reported $25,000 of net income for 2014. 7. Nirvana Company paid a total of $2,100 of cash dividends to all investees in 2014. 8. Ballard dedared a 10% stock dividend. One thousand shares of $12 par common stock were distributed. The market price at date of issuance was $19 per share. cash flo activities using (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) operatinga ect method. A than thos tivities.Explanation / Answer
Amount $ Cash flows from Operating Activities Net Income 1,40,580 Adjustments: Non-Cash adjustment: Depreciation 42,990 Allowance for doubtful accounts (506000*2%) 10,120 Income from equity method of investment (25000*33%) -8,250 Dividends from equity method of investment (2100*33%) -693 Due to changes in Working capital; Decrease in accounts receivable 12,750 Net Cash provided (used) by operating activities 1,97,497