D Bowers Week 4.xlsx

D Bowers Week 4.xlsx - E3.13 Presented below is a list of...

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E3.13 Presented below is a list of accounting events for the Longo Corporation. Classify each of the events as an operating activity event, an investing activity event, a fina Sale of common stock for cash Collection of cash on accounts receivable Purchase of equipment for cash Sale of inventory on credit Borrowed cash from a bank Payment of a cash dividend Payment of utility expense using cash Purchase of land using bank financing Repurchase of previously issued stock using cash Cash payment of interest on a bank loan E3.15 Operations Longo Corp $ (6,050) $ (1,320) Davis Company $ (2,980) $ (3,260) Identify uses and sources of cash for Longo and Davis Calcualte the change in cash balance for Davis Both Compan Longo is conti Both compan Davis change P3.22 AMPHLETT CORPORATION Consolidated Balance Sheets As of Year-End ($ thousands) 2012 2013 Assets Current Cash $90,000 $15,000 Marketable securities - 200,000 Accounts receivable (net) 440,000 590,000 Inventory 615,000 600,000 Total current assets 1,145,000 1,405,000 Noncurrent Long-term investments 390,000 310,000 Operating Profit
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Property & equipment 1,100,000 1,800,000
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