60.1K

Verified Solution

Link Copied!

Consider the following abbreviated financial statements for Barrie Enterprises:

BARRIE Enterprises 2017 and 2018 Partial Statement of Financial Position
Assets						Liabilities and Owner's Equity
		2017		2018			2017		2018
Current assets	$	938	$	1,014	Current liabilities	$	377	$	413
Net fixed assets		4,007		4,776	Long-term debt		2,111		2,249

BARRIE Enterprises 2018 Statement of Comprehensive Income
Sales	$	12,800
Costs		5,509
Depreciation		1,153
Interest paid		318

a. What is owner's equity for 2017 and 2018? (Omit $ sign in your response.)

Owner's equity 2017	$
Owner's equity 2018	$

b. What is the change in net working capital for 2018? (Omit $ sign in your response.)

Change in NWC $

c1. In 2018, Barrie Enterprises purchased $2,022 in new fixed assets. How much in fixed assets did Barrie Enterprises sell? (Omit $ sign in your response.)

Fixed assets sold $

c2. In 2018, Barrie Enterprises purchased $2,022 in new fixed assets. What is the cash flow from assets for the year? (The tax rate is 35%.) (Omit $ sign in your response.)

Cash flow from assets $

d1. During 2018, Barrie Enterprises raised $402 in new long-term debt. How much long-term debt must Barrie Enterprises have paid off during the year? (Omit $ sign in your response.)

Debt retired $

d2. During 2018, Barrie Enterprises raised $402 in new long-term debt. What is the cash flow to creditors? (Omit $ sign in your response.)

Cash flow to creditors $

ReplyForward

Answer & Explanation Solved by verified expert

See Answer