2024 2023 Current Assets: Cash $81,900 $18,500 Accounts Receivable 14,900 21,700 Merchandise Inventory 63,600 58,800 Cur
Posted: Wed Mar 09, 2022 8:17 am
2024
2023
Current Assets:
Cash
$81,900
$18,500
Accounts Receivable
14,900
21,700
Merchandise Inventory
63,600
58,800
Current Liabilities:
Accounts Payable
31,600
30,100
Accrued Liabilities
11,200
11,700
Payment of cash dividends
$15,200
Depreciation expense
$17,100
Purchase of equipment with cash
55,100
Purchase of building with cash
104,000
Issuance of long-term notes payable to borrow cash
44,000
Net income
62,600
Issuance of common stock for cash
111,000
Requirement 1. Prepare the statement of cash flows of
Johnson
Educational Supply for the year ended December 31,
2024.
Use the indirect method to report cash flows from operating
activities. (Use a minus sign or parentheses for amounts that
result in a decrease in cash. If a box is not used in
the statement, leave the box empty; do not select a
label or enter a zero.)
Complete the statement one section at a time, beginning
with the cash flows from operating activities.
Johnson Educational Supply
Statement of Cash Flows
Year Ended December 31, 2024
Cash Flows from Operating Activities:
Net Income
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used for) Operating Activities:
Net Cash Provided by (Used for) Operating Activities
Part 2
Cash Flows from Investing Activities:
Net Cash Provided by (Used for) Investing Activities
Part 3
Cash Flows from Financing Activities:
Net Cash Provided by (Used for) Financing Activities
Part 4
Net Increase (Decrease) in Cash
Cash Balance, December 31, 2023
Cash Balance, December 31, 2024
Part 5
Requirement 2. Evaluate
Johnson's
cash flows for the year. Mention all three categories of
cash flows, and give the reason for your evaluation.
Complete the following statements to evaluate
Johnson's
cash flows.
Operations are
▼
generating
using up
cash.
The company is
▼
divesting itself of
investing in new
plant assets.
There is more financing by
▼
borrowing
issuing stock
than by
▼
borrowing.
issuing stock.
Cash
▼
decreased
increased
during the year.
Part 6
For the reasons given above,
Johnson's
cash flows look
▼
strong
weak
.
Part 7
Requirement 3. If
Johnson
plans similar activity for
2025,
what is its expected free cash flow? (Use a minus sign or
parentheses for amounts that result in a decrease in cash.
Abbreviations used: Cash pmts for planned invest. =
Cash payments for planned investments in long-term assets;
NCOA = Net cash provided by operating activities;
NCFA = Net cash provided by financing activities.)
Select the labels and enter the amounts to calculate
Johnson's
expected free cash flow for
2025.
-
-
=
Free cash flow
-
-
=
2023
Current Assets:
Cash
$81,900
$18,500
Accounts Receivable
14,900
21,700
Merchandise Inventory
63,600
58,800
Current Liabilities:
Accounts Payable
31,600
30,100
Accrued Liabilities
11,200
11,700
Payment of cash dividends
$15,200
Depreciation expense
$17,100
Purchase of equipment with cash
55,100
Purchase of building with cash
104,000
Issuance of long-term notes payable to borrow cash
44,000
Net income
62,600
Issuance of common stock for cash
111,000
Requirement 1. Prepare the statement of cash flows of
Johnson
Educational Supply for the year ended December 31,
2024.
Use the indirect method to report cash flows from operating
activities. (Use a minus sign or parentheses for amounts that
result in a decrease in cash. If a box is not used in
the statement, leave the box empty; do not select a
label or enter a zero.)
Complete the statement one section at a time, beginning
with the cash flows from operating activities.
Johnson Educational Supply
Statement of Cash Flows
Year Ended December 31, 2024
Cash Flows from Operating Activities:
Net Income
Adjustments to Reconcile Net Income to Net Cash
Provided by (Used for) Operating Activities:
Net Cash Provided by (Used for) Operating Activities
Part 2
Cash Flows from Investing Activities:
Net Cash Provided by (Used for) Investing Activities
Part 3
Cash Flows from Financing Activities:
Net Cash Provided by (Used for) Financing Activities
Part 4
Net Increase (Decrease) in Cash
Cash Balance, December 31, 2023
Cash Balance, December 31, 2024
Part 5
Requirement 2. Evaluate
Johnson's
cash flows for the year. Mention all three categories of
cash flows, and give the reason for your evaluation.
Complete the following statements to evaluate
Johnson's
cash flows.
Operations are
▼
generating
using up
cash.
The company is
▼
divesting itself of
investing in new
plant assets.
There is more financing by
▼
borrowing
issuing stock
than by
▼
borrowing.
issuing stock.
Cash
▼
decreased
increased
during the year.
Part 6
For the reasons given above,
Johnson's
cash flows look
▼
strong
weak
.
Part 7
Requirement 3. If
Johnson
plans similar activity for
2025,
what is its expected free cash flow? (Use a minus sign or
parentheses for amounts that result in a decrease in cash.
Abbreviations used: Cash pmts for planned invest. =
Cash payments for planned investments in long-term assets;
NCOA = Net cash provided by operating activities;
NCFA = Net cash provided by financing activities.)
Select the labels and enter the amounts to calculate
Johnson's
expected free cash flow for
2025.
-
-
=
Free cash flow
-
-
=