P23-2 & P24-3 - P232 HinckleyCashFlowStatement YE2010...

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P23-2 Hinckley Cash Flow Statement YE 2010 Cash Flow (Operations) Net Income 14,750 Adjustments to reconcile Loss on equipment sale 4100 Gain on flood damage (8250) Depreciation 1900 Patent amortization 1250 Gain on sale (1700) Increase accounts receivable (3750) Increase inventory (3000) Increase accounts payable 2000 (7450) Net Cash (Operations) 7300 Cash flow (Investing) Sales of investments 4700 Sale of equip 2500 Purchase equip (20,000) Proceeds from flood 32,000 Net cash (Investing) 19200 Cash flow (financing) Dividends (5000)
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Note due (1000) Net cash (6000) Increase in cash  20500 Cash beginning 13000 Cash ending 33500 P24-3 (a) 1. 2010 = 320,000/158,500 = 2.02 to 1 2011 = 403,000/164,000 = 2.46 to 1 2.  2010 = 270,000/158,500 = 1.7 to 1 2011 = 298,000/164,000 = 1.82 to 1 3. 2011 = 1,530,000/(50,000 + 105,000/2) = 19.7 or 365/19.7 = 18.5 days 4. 2010 = 297,000/(1,688,500 + 1,740,500/2) = 17.3%
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This note was uploaded on 09/29/2011 for the course ACC 302 taught by Professor Smith during the Spring '11 term at University of Phoenix.

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P23-2 & P24-3 - P232 HinckleyCashFlowStatement YE2010...

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