Reference no: EM131215773
Cray Cray is a merchandiser of gag gifts. The? company’s net income for the prior year was? $13,200. The beginning Retained Earnings reported on the Balance Sheet was? $10,000. The ending Retained Earnings reported on the Balance Sheet was? $8,900. The company began the year with? $18,000 in cash. Cray? Cray's operating activities used? $2,130 more in cash than its operating activities provided during the period. The following additional transactions occurred during the? year:
?• An old piece of equipment was sold for? $1,500 cash.
?• 500 shares of common stock were issued at par for a total of? $1,000 in cash.
?• The Dividends Payable account balance was? $0 at the beginning and the end of the year.
Answer the following given the above? information:
1) The company is not operating within its means.
True
False
2) The investing activities provided more cash than the investing activities used.
True
False
3) The financing activities provided more cash than the financing activities used.
True
False
4) The? company’s ending cash balance reported on the Balance Sheet is $______. (enter the absolute value and commas where ?appropriate)
|
Potential problem in analyzing foreign financial statements
: A major potential problem in analyzing foreign financial statements are the differences in accounting principles. As the book stated, there was a study done in 1990 creating a hypothetical company. With this hypothetical company, accounting principal..
|
|
What are the defining factors the shape who you are
: What are the defining factors the shape who you are, and how can you both preserve and amplify your identity in order to gain success at the college level?
|
|
What were the total manufacturing costs for the year
: Champagne of the? South, Inc., a manufacturer of bottled sweet? tea, had the following beginning and ending inventories for the year ended December? 31, 2013: During the? year, direct labor costs of? $30,000 were? incurred, manufacturing overhead tot..
|
|
What does this phrase mean to you
: What is the likelihood of the creation of a dystopian society in the name of security through acquiescence by the public? Generally speaking, do you feel that the majority of U.S. citizens are apathetic with regard to this debate? Explain.
|
|
Retained earnings reported on the balance sheet
: Cray Cray is a merchandiser of gag gifts. The? company’s net income for the prior year was? $13,200. The beginning Retained Earnings reported on the Balance Sheet was? $10,000. The ending Retained Earnings reported on the Balance Sheet was? $8,900. T..
|
|
What are the long-term benefits and consequences
: What was the PATRIOT Act's role in establishing the use of fusion centers across the country? Explain. What was the intended outcome in establishing these U.S. fusion centers between U.S. intelligence agencies and local law enforcement agencies? E..
|
|
Find the minimum pretax earnings per year
: FIN 508 - Financial Management Assignment. Find the minimum pretax earnings per year that the machine must generate to become profitable
|
|
Reduce fractions to the lowest possible terms
: Six Flags rates its rides as mild, moderate, or max. The Six Flags Great Adventure park where the Kingda KA ride is located has a total of 49 rides. Of these, 12 have a max rating, 8 have a moderate rating, and the remainder are rated mild. Express e..
|
|
Equivalent units of production are equal to
: Equivalent units of production are equal to:
|