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Ash LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/ Problem Ch 1 Ex 2 Net income Account to be changed Original Amount 107000 12600...


I've attached the problems and the worksheet that the answers have to go into I am the jan-feb start date where the numbers have to be changed I do not understand what I am supposed to be doing and can not find any help when searching the documents 


Ash LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/

 

Problem

 

Ch 1 Ex 2 Net income Account to

 

be changed Original

 

Amount

 

107000

 

12600

 

21000 Depreciation

 

Accounts payable Questions YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE Net Income

 

Accounts receivable

 

Inventory

 

Accounts payable

 

Depreciation

 

Cash Flow from Operating Activities Account to

 

be changed

 

Ch 1 Ex 3 Net Income

 

Trade accounts receivable

 

Merchandise inventory

 

Accumulated depreciation: equipment

 

Accounts payable

 

Accrued liabilities

 

Gain on sale of investments Original

 

Amount

 

110000

 

245000

 

230000

 

120000

 

190000

 

38000 18000 Net Income

 

Trade accounts receivable

 

Merchandise inventory

 

Accumulated depreciation: equipment

 

Accounts payable

 

Accrued liabilities

 

Gain on sale of investments YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE

 

120000

 

256000

 

241000

 

141000

 

201000

 

46000

 

18000 Cash Flow from Operating Activities Ch 1 Ex 6 Account to

 

be changed Original

 

Amount

 

Dec. 31, 20X4 New equipment purchased

 

Depreciation expense 280000

 

41000 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE

 

Cost of equipment sold

 

Accumulated depreciation of sold equipment

 

Selling price of equipment sold

 

Sale of equipment on cash flow statement Ch 1 Pb 2

 

Account to

 

be changed

 

Accounts payable decreased

 

Accounts receivable increased

 

Prepaid expenses increased

 

wages payable increased

 

Income taxes payable decreased Original

 

Amount

 

32800

 

23700

 

2400

 

5600

 

800 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE Direct Method

 

Cash collected

 

Less cash paid for:

 

Inventory

 

Selling & administrative

 

Interest expense

 

Income taxes

 

Net cash provided by operating activities Indirect Method

 

Net income

 

Accounts payable decreased

 

Accounts receivable increased

 

Prepaid expenses increased

 

wages payable increased

 

Inventory

 

Income taxes payable decreased

 

Depreciation

 

Gain on sale of equipment

 

Net cash provided by operating activities CH 1 Pb 3 Account to

 

be changed

 

Accounts receivable (net)

 

Inventory

 

Accounts payable

 

Taxes payable

 

Sales

 

Net income

 

Long tem investments purchased

 

Sale of land cash proceeds

 

Store equipment purchased - short term note

 

Purchased equipment issue 3000 pref shares

 

Long term note repaid

 

Common stock issued - shares Original

 

Amount

 

83800

 

243400

 

123600

 

43600

 

713800

 

145800 74600

 

76200

 

44000

 

150000

 

49400

 

20000 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE Prepare the operating activities section

 

of the statement of cash flows by using

 

the direct method.

 

Cash collected

 

Less cash paid for: Inventory

 

Selling & administrative

 

Interest expense

 

Income taxes

 

Net cash provided by operating activities Prepare the operating activities section

 

of the statement of cash flows by using

 

the indirect method.

 

Net income Accounts receivable

 

Inventory

 

Prepaid expenses

 

Accounts payable

 

Taxes payable

 

Interest payable

 

Accrued liabilities

 

Gain on sale of land

 

Depreciation

 

Net cash provided by operating activities Prepare the investing and financing

 

activities sections of the statement of

 

cash flows.

 

Cash flows from investing activities

 

Purchase of long-term investments

 

Proceeds from sale of land

 

Net cash provided by investing act.

 

Cash flows from financing activities

 

Repayment of long-term note

 

Issuance of common stock*

 

Dividends paid

 

Net cash used by financing activities

 

* 20,000 shares X $5.19 = $103,800 Note: The store equipment and

 

telecommunications system transactions

 

would be reported as noncash investing/

 

financing activities Ashford University ACC206

 

Guidance Report

 

Week One YELLOW INDICATES ACCOUNT AMOUNTS CHANGED

 

Change Account to:

 

Based Upon Course Start Date

 

Jan-Feb

 

$

 

$

 

$ Mar-Apr

 

May-Jun

 

Jul-Aug

 

109,000 $

 

111,000 $

 

113,000 $

 

13,000 $

 

15,000 $

 

16,000 $

 

22,000 $

 

23,000 $

 

24,000 $ Jan-Feb

 

$

 

$

 

$

 

$

 

$

 

$

 

$ Mar-Apr

 

112,000

 

246,000

 

231,000

 

121,000

 

191,000

 

39,000

 

18,000 $

 

$

 

$

 

$

 

$

 

$

 

$ May-Jun

 

114,000

 

248,000

 

232,000

 

122,000

 

193,000

 

40,000

 

18,000 $

 

$

 

$

 

$

 

$

 

$

 

$ Sept-Oct

 

115,000 $

 

120,000

 

18,000 $

 

20,000

 

25,000 $

 

26,000 Jul-Aug

 

116,000

 

249,000

 

232,000

 

124,000

 

194,000

 

41,000

 

18,000 $

 

$

 

$

 

$

 

$

 

$

 

$ Sept-Oct

 

117,000

 

250,000

 

235,000

 

125,000

 

195,000

 

45,000

 

18,000 $

 

$

 

$

 

$

 

$

 

$

 

$ 118,000

 

255,000

 

240,000

 

130,000

 

200,000

 

45,000

 

18,000 Jan-Feb

 

$

 

$ Mar-Apr

 

290,000

 

42,000 Jan-Feb

 

$

 

$

 

$

 

$

 

$ $

 

$ May-Jun

 

295,000

 

43,000 Mar-Apr

 

33,800

 

24,275

 

2,975

 

6,175

 

1,375 $

 

$

 

$

 

$

 

$ $

 

$ Jul-Aug

 

296,000

 

44,000 May-Jun

 

34,800

 

24,850

 

3,550

 

6,750

 

1,950 $

 

$

 

$

 

$

 

$ $

 

$ Sept-Oct

 

297,000

 

45,000 Jul-Aug

 

35,800

 

25,425

 

4,125

 

7,325

 

2,525 $

 

$

 

$

 

$

 

$ $

 

$ 298,000

 

46,000 Sept-Oct

 

36,800

 

26,000

 

4,700

 

7,900

 

3,100 $

 

$

 

$

 

$

 

$ 37,800

 

26,575

 

5,275

 

8,475

 

3,675 Jan-Feb

 

$

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ Mar-Apr

 

84,800

 

244,400

 

124,600

 

44,600

 

718,000

 

150,000 75,600

 

77,200

 

45,000

 

151,000

 

49,900

 

20500 $

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ May-Jun

 

85,800

 

245,400

 

125,600

 

45,600

 

723,000

 

155,000 76,600

 

78,200

 

46,000

 

152,000

 

50,400

 

21000 $

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ Jul-Aug

 

86,800

 

246,400

 

126,600

 

46,600

 

728,000

 

160,000 77,600

 

79,200

 

47,000

 

153,000

 

50,900

 

21500 $

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ Sept-Oct

 

87,800

 

247,400

 

127,600

 

47,600

 

733,000

 

165,000 78,600

 

80,200

 

48,000

 

154,000

 

51,400

 

22000 $

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ 88,800

 

248,400

 

128,600

 

43,600

 

738,000

 

170,000 79,600

 

81,200

 

49,000

 

155,000

 

51,900

 

22500 Nov-Dec

 

$

 

121,000

 

$

 

21,000

 

$

 

27,000 Nov-Dec

 

$

 

$

 

$

 

$

 

$

 

$

 

$ 120,000

 

256,000

 

241,000

 

141,000

 

201,000

 

46,000

 

18,000 Nov-Dec

 

$

 

$ 299,000

 

47,000 Nov-Dec

 

$

 

$

 

$

 

$

 

$ 38,800

 

27,150

 

5,850

 

9,050

 

4,250 Nov-Dec

 

$

 

$

 

$

 

$

 

$

 

$ $

 

$

 

$

 

$

 

$ 89,800

 

249,400

 

129,600

 

43,600

 

748,000

 

180,000 80,600

 

82,200

 

50,000

 

156,000

 

52,400

 

23000

 


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DATE ANSWERED

Oct 15, 2019

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