Following are two income statements for Alexis Co. for the year ended December 31

Following are two income statements for Alexis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Analyze the statements and prepare the eight adjusting entries that likely were recorded.

Volbeat Corp. shows the following information on its 2015 income statement

Volbeat Corp. shows the following information on its 2015 income statement: sales = $267,000; costs = $148,000; other expenses = $8,200; depreciation expense = $17,600; interest expense = $12,400; taxes = $32,620; dividends = $15,500. In addition, you’re told that the firm issued $6,400 in new equity during 2015 and redeemed $4,900 in outstanding long-term debt. What is the 2015 operating cash flow? What is the 2015 cash flow to creditors? What is the 2015 cash flow to stockholders? If net fixed assets increased by $25,000 during the year, what was the addition to NWC?




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