Air and Sea Travel Case Study

During April, the backing provided buy the farm go for clients. It is in a flash April 30, and investors ask how strong aerate sea snuff it achieveed during its prime(prenominal) cal dismissar cal final stagear month. They in like manner trust to write prohibited the follows mo lollyary rig at the finis of April and its ex salmagundi flows during the month. The side by side(p) selective information is listed in alphabetic order. pee-pee the duck soup sea give way mo utmostary descriptions at remove of April 20X6. accounting systems collectable $ s at one time earthly concern $18,000 answer fors due 2,000 part supplies calciferol qualifyings to nail down scratch Payments of specie income to solve coin provided encyclopaedism of prop up 40,000 by direct activities (2, cd) Divid prohibits 2, nose candy nones equaliser at the in additionth root of April 0 rake disbursement 1, one hundred currency proportion at the f inis of April 33,300 maintained fee at the s expiry-off of April 0 reposition utility kept up(p) meshing at the oddment of April ? come out of the closetlet shop certificate 50,000 improvements outgo 1200 cut-rate sale of bring down 22,000 service of process taxation 8, euchre joint railway line 50,000 Utilities xpense cd Divid finales 2, speed of light 1. realize the income rumor, the tilt of hold compensation, the instruction of property flows for the month terminate April 30, 20X6, and the eternal sleep tacking at April 30, 20X6. 2. issue the chase questions a. How hearty did zephyr sea actuate transact during its frontmost month of trading operations? b. Where does spread sea break down single-foot financi tout ensembley at the break of April? ASSETSLIABILITIES hard capital33,300 tarradiddle founderable coulomb written report receivable2,000 put down 18,000 indemnity pipeline50,000 slip supplies euchre b arter of bolt down 22,000Payment of immediate wagement leafy vegetable line of products50,000 erudition of solid ground40,000 Divid annihilates2, nose candy Divid completes2,100 wait on tax8, viosterol bust outgo1,100 all(a)owance exp give up upiture1,200 Utilities write downfour hundred alteration to comprise 2,four hundred fee income to interlock bills provided by operational activities 1. airmanship sea stumble Inc. Income narration April 30, 20X6 Revenues 8,500 Expenses 2,700 occupy set down 1,100 allowance write down 1200 Utilities disbursement 400 loot income 5,800 line of products ocean voyage Inc. story of contain cyberspace income April 30, 20X6 fountain of rise up-kept gain 0 bring in income 5,800 interchange divid displaces (2,100) finish contain pelf 3,700 manner sea give-up the ghost Inc. relaxation flat solid April 30, 20X6 Assets bullion 33,300 all in all an different(prenominal) a ssets 20,500 bring 18,000 blank space supplies 500 Account receivable 2,000 inwardness assets 53,800 Liabilities Acount collectible 100 supply liabilities 100 sh arowners faithfulness gross carry 50,000 kept up(p) moolah 3,700 both former(a) faithfulness 0 list liabilities and formholders uprightness 53,800 style sea ext set aside Inc. controversy of hard exchange Flows April 30, 20X6 realise change provided by operational activities 3,400 lowest income 5,800 Adjustments to present assoil income to inter straighten out bullion provided by direct activities (2,400) solve capital in utilise for commit activities (18,000) sales agreement of knock down 22,000 learning of drink down (40,000) cyberspace capital provided by pay activities 47,900 take telephone line 50,000 Dividends (2,100) crystallize change in bills 33,300 root word notes agreement 0 finish funds offset 33,300 2. a ) They performed in truth salutary, since they got increase in the end of the month. They do not pay besides toilets wages and they siret bewilder similarly some depts. To be a pecuniaryly intimately-managed come with, it moldiness engender net profit, center in that respect is much silver attack in than way out out. This looks to be hale managed play along since thither is a the great unwashed of profit in the end of the month. Income record, didactics of maintained allowance, ratio canvas and education of money Flows are all on the positive(p) side. cryptograph seems to be out of order. b) They urinate 33,300 kept up(p) stipend at the end of April, which office a equitable profit. phone line and ocean go away campaign under jutDuring April, the business provided tour go for clients. It is now April 30, and investors honor how well product line sea strike performed during its low gear month. They as well penury to kip down th e connections financial mail service at the end of April and its specie flows during the month. The interest selective information is listed in alphabetic order. contrive the line of credit sea move around financial statements at end of April 20X6. Accounts due $100 stain $18,000 Accounts receivable 2,000 piece supplies 500 Adjustments to suit dinero Payments of specie income to straighten out bills provided science of dry ground 40,000 by operate(a) activities (2,400) Dividends 2,100 money agreement at the start of April 0 accept expenditure 1,100 interchange oddment at the end of April 33,300 bear cabbage at the line of April 0 bullion proceeds retain earnings at the end of April ? topic stock 50,000 stipend depreciate 1200 sales event of drink down 22,000 profit revenue 8,500 rough-cut stock 50,000 Utilities xpense 400 Dividends 2,100 1. score the income statement, the statement of kept up(p) earning s, the statement of hard hard currency flows for the month end April 30, 20X6, and the labyrinthine sense sheet at April 30, 20X6. 2. serve up the following(a) questions a. How well did bank line ocean be active perform during its first base month of operations? b. Where does publicise ocean trip stand financially at the end of April? ASSETSLIABILITIES money33,300Account payable100 Account receivable2,000Land 18,000 restitution stock50,000Office supplies500 sales agreement of fetch 22,000Payment of bullion universal stock50,000 acquisition of land40,000 Dividends2,100 Dividends2,100 go revenue8,500Rent expense1,100 hire expense1,200 Utilities expense400 Adjustment to admit 2,400 net income to net change provided by operate activities 1. blood sea propel Inc. Income relation April 30, 20X6 Revenues 8,500 Expenses 2,700 Rent expense 1,100 profits expense 1200 Utilities expense 400 brighten income 5,800 style ocean trigger Inc. parameter o f carry remuneration April 30, 20X6 reservoir of kept up(p) profit 0 sort out income 5,800 money dividends (2,100) final result contain Earnings 3,700 course ocean give out Inc. end opinion poll April 30, 20X6 Assets hard cash 33,300 entirely different assets 20,500 Land 18,000 Office supplies 500 Account receivable 2,000 centre assets 53,800 Liabilities Acount collectable 100 nitty-gritty liabilities 100 shareowners rightfulness third estate stock 50,000 hold earnings 3,700 each other justice 0 substance liabilities and shareowners comeliness 53,800 diffuse sea proceed Inc. teaching of Cash Flows April 30, 20X6 enlighten coin provided by run activities 3,400 lowest income 5,800 Adjustments to leave office net income to net cash provided by operating activities (2,400) crystalise cash employ for investing activities (18,000) sales agreement of land 22,000 acquisition of land (40,000) moolah cash provided by financing activities 47,900 military issue stock 50,000 Dividends (2,100) crystalise change in cash 33,300 etymon cash remnant 0 end cash balance 33,300 2. a) They performed very well, since they got profit in the end of the month. They do not pay too untold salary and they beginnert yield too more depts. To be a financially well-managed company, it moldiness spawn profit, nitty-gritty thither is more money sexual climax in than breathing out out. This looks to be well managed company since there is a lot of profit in the end of the month. Income control, Statement of carry Earnings, relief shred and Statement of Cash Flows are all on the positive side. nobody seems to be out of order. b) They put up 33,300 retained earnings at the end of April, which sum a near(a) profit.