Consider the following abbreviated financial statements for Tokyo Enterprises: ...

70.2K

Verified Solution

Question

Accounting

Consider the following abbreviated financial statements for Tokyo Enterprises:

TOKYO ENTERPRISES 2012 and 2013 Partial Balance Sheets
Assets Liabilities and Owners Equity
2012 2013 2012 2013
Current assets $ 936 $ 1,015 Current liabilities $ 382 $ 416
Net fixed assets 4,176 4,896 Long-term debt 2,160 2,477

TOKYO ENTERPRISES 2013 Income Statement
Sales $ 12,380
Costs 5,776
Depreciation 1,150
Interest paid 314

a. What is owners equity for 2012 and 2013? (Do not round intermediate calculations.)

Owners' equity 2012 $
Owners' equity 2013 $

b. What is the change in net working capital for 2013? (Do not round intermediate calculations.)

Change in NWC $

c-1.

In 2013, Tokyo Enterprises purchased $2,160 in new fixed assets. How much in fixed assets did Tokyo Enterprises sell? (Do not round intermediate calculations.)

Fixed assets sold $

c-2.

In 2013, what is the cash flow from assets for the year? (The tax rate is 40 percent.) (Do not round intermediate calculations.)

Cash flow from assets $

d-1.

During 2013, Tokyo Enterprises raised $432 in new long-term debt. How much long-term debt must Tokyo Enterprises have paid off during the year? (Do not round intermediate calculations.)

Debt retired $

d-2.

What is the cash flow to creditors? (Do not round intermediate calculations.Negative amount should be indicated by a minus sign.)

Cash flow to creditors $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students