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    Chemalite Answers

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    Mine Sayrac
    The document shows the company's balance sheet and cash flow statement for 2004 and 2005. From 2004 to 2005, total assets increased from $539,375 to $1,783,150 mainly due to increases in plant & equipment, land, and inventory. Total liabilities also increased over the period from $10,900 to $661,680 primarily due to new notes payable and long term debt. The company had net income of $118,995 and cash decreased by $103,510 over the period.

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    Chemalite Answers

    Uploaded by

    Mine Sayrac
    126 views2 pages
    The document shows the company's balance sheet and cash flow statement for 2004 and 2005. From 2004 to 2005, total assets increased from $539,375 to $1,783,150 mainly due to increases in plant & equipment, land, and inventory. Total liabilities also increased over the period from $10,900 to $661,680 primarily due to new notes payable and long term debt. The company had net income of $118,995 and cash decreased by $103,510 over the period.

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    FIN 802-Corporate Finance

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    The document shows the company's balance sheet and cash flow statement for 2004 and 2005. From 2004 to 2005, total assets increased from $539,375 to $1,783,150 mainly due to increases in plant & equipment, land, and inventory. Total liabilities also increased over the period from $10,900 to $661,680 primarily due to new notes payable and long term debt. The company had net income of $118,995 and cash decreased by $103,510 over the period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    126 views2 pages

    Chemalite Answers

    Uploaded by

    Mine Sayrac
    The document shows the company's balance sheet and cash flow statement for 2004 and 2005. From 2004 to 2005, total assets increased from $539,375 to $1,783,150 mainly due to increases in plant & equipment, land, and inventory. Total liabilities also increased over the period from $10,900 to $661,680 primarily due to new notes payable and long term debt. The company had net income of $118,995 and cash decreased by $103,510 over the period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    2004 2005 Change

    Cash $113,000 $9,490 ($103,510)


    Accounts Receivable $69,500 $139,530 $70,030
    Inventory Raw M. $55,000 $75,450 $20,450
    Inventory Finished G. $0 $104,680 $104,680
    Less: Allowance for Doubtfull Accounts
    Accounts Receivable (Net)
    Prepaid Expense $0 $65,000 $65,000

    Total Current Assets 237,500 394,150 $156,650

    Plant & Equipment 212,500 1,120,000 $907,500


    Less: Accumulated Depreciation -10,625 -56,000 ($45,375)
    Land 0 250,000 $250,000
    Patent 100,000 75,000 ($25,000)
    Equipment (Net)
    Total Assets 539,375 1,783,150
    Taxes Payable 10,900 9,950 ($950)
    Short Term Debt 0 200,000 $200,000
    Deferred Taxes 0 26,730 $26,730
    Notes Payable 0 425,000 $425,000
    Salaries & Wages Payable
    Mortgage Payable (Current)
    Total Current Liabilities 10,900 661,680
    Treasury stock 0 -26,000 ($26,000)
    Long term debt 0 510,000 $510,000
    Dividents payable 10,000 12,000 $2,000
    Common stock 500,000 500,000 $0
    Retained Earnings 18,475 125,470 $106,995
    Total Liabilities 539,375 1,783,150

    Net Income $118,995


    Adjustments $152,855
    Interest Expense $58,750
    Depreciation $66,625 5000 inventory depreciation'ı ekledik
    Amortization $25,000
    Deferred Taxes $26,730
    Gain of sale on equipment ($24,250)
    Change in NWC ($261,110)
    Acc. Receivables ($70,030)
    Inventories ($125,130)
    Taxes Payable ($950)
    Prepaid Expense ($65,000)
    Cash from Operating Activities $10,740
    PP&E - Land ($850,000)
    New Equipment ($520,000)
    Sale of old equipment $215,500
    Cash from Investment Activities ($1,154,500)
    Interest Expense ($58,750)

    Purchased Shares ($26,000)


    Notes Payable $425,000
    Dividends Paid ($10,000)
    Long term debt $510,000
    Short term debt $200,000
    Cash from Financing Activities $1,040,250

    Net Change in Cash ($103,510)

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