The current sections of Ayayai Corp.’s balance sheets at December 31, 2021 and 2022, are presented...
The current sections of Ayayai Corp.’s balance sheets at December 31, 2021 and 2022, are presented here. Ayayai Corp.’s net income for 2022 was $457,200. Depreciation expense was $75,600.
|
2022 |
2021 |
|||
|---|---|---|---|---|
|
Current assets |
||||
|
Cash |
$111,600 |
$ 160,200 |
||
|
Accounts receivable |
153,000 |
124,200 |
||
|
Inventory |
140,400 |
111,600 |
||
|
Prepaid expenses |
30,600 |
34,200 |
||
|
Total current assets |
$435,600 |
$430,200 |
||
|
Current liabilities |
||||
|
Accrued expenses payable |
$ 10,800 |
$ 28,800 |
||
|
Accounts payable |
158,400 |
129,600 |
||
|
Total current liabilities |
$169,200 |
$ 158,400 |
Prepare the net cash provided by operating activities section of
the company’s statement of cash flows for the year ended December
31, 2022, using the indirect method. (Show amounts that
decrease cash flow with either a - sign e.g. -15,000 or in
parenthesis e.g. (15,000).)
| Ayayai Corp. Partial Statement of Cash Flows choose the accounting period
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| select an opening section name
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| select an item
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$enter a dollar amount
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Adjustments to reconcile net income to |
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$enter a dollar amount
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enter a dollar amount
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enter a dollar amount
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enter a dollar amount
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enter a dollar amount
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enter a dollar amount
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| enter a total amount for this subsection
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| select a closing section name
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$enter a total amount for this section
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December 31, 2022For the Year Ended December 31, 2022For the
Quarter Ended December 31, 2022| Click if you would like to Show Work for this question: |
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Homework Answers
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The current sections of Ayayai Corp.’s balance sheets at
December 31, 2021 and 2022, are presented...
The current sections of Ayayai Corp.’s balance sheets at December 31, 2021 and 2022, are presented...
The current sections of Ayayai Corp.’s balance sheets at
December 31, 2021 and 2022, are presented here. Ayayai Corp.’s net
income for 2022 was $457,200. Depreciation expense was $75,600.
2022
2021
Current assets
Cash
$111,600
$ 160,200
Accounts receivable
153,000
124,200
Inventory
140,400
111,600
Prepaid expenses
30,600
34,200
Total current assets
$435,600
$430,200
Current liabilities
Accrued expenses payable
$ 10,800
$ 28,800
Accounts payable
158,400
129,600
Total current liabilities
$169,200
$ 158,400
Prepare the net cash provided by operating activities...
xercise 17-05 (Video) The current sections of Scoggin Inc.’s balance sheets at December 31, 2019 and...
xercise 17-05 (Video) The current sections of Scoggin Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Scoggin’s net income for 2020 was $152,700. Depreciation expense was $24,300. 2020 2019 Current assets Cash $107,100 $95,300 Accounts receivable 109,200 78,300 Inventory 157,800 171,100 Prepaid expenses 26,100 25,300 Total current assets $400,200 $370,000 Current liabilities Accrued expenses payable $15,300 $9,900 Accounts payable 84,700 95,300 Total current liabilities $100,000 $105,200 Prepare the net cash provided by operating activities section of...
Rojas Corporation’s comparative balance sheets are presented below. ROJAS CORPORATION Comparative Balance Sheets December 31 2020...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
Question 1 Gutierrez Company reported net income of $190,400 for 2020. Gutierrez also reported depreciation expense...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
Here are comparative balance sheets for Velo Company. Velo Company Comparative Balance Sheets December 31 Assets...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
The following three accounts appear in the general ledger of Herrick Corp. during 2020. Equipment Date Debi...
The following three accounts appear in the general ledger of
Herrick Corp. during 2020.
Equipment
Date
Debit
Credit
Balance
Jan. 1
Balance
158,600
July 31
Purchase of equipment
69,800
228,400
Sept. 2
Cost of equipment constructed
54,400
282,800
Nov. 10
Cost of equipment sold
49,500
233,300
Accumulated Depreciation—Equipment
Date
Debit
Credit
Balance
Jan. 1
Balance
69,800
Nov. 10
Accumulated depreciation on equipment sold
31,700
38,100
Dec. 31
Depreciation for year
23,400
61,500
Retained Earnings
Date
Debit
Credit
Balance
Jan. 1...
Exercise 17-04 Gutierrez Company reported net income of $197,600 for 2020. Gutierrez also reported depreciation expense...
Exercise 17-04 Gutierrez Company reported net income of $197,600 for 2020. Gutierrez also reported depreciation expense of $43,800 and a loss of $5,200 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $12,500 for the year, a $14,500 increase in accounts payable, and a $3,200 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow...
Velo Company Comparative Balance Sheets December 31 Assets 2020 2019 Cash $72,800 $33,200 Accounts receivable 86,500...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
WileyPLUS Problem 5-10 a (Indirect Method) The income statement of Tamache Corporation is shown below: TAMACHE CORPOR...
WileyPLUS Problem 5-10 a (Indirect Method)
The income statement of Tamache Corporation is shown below:
TAMACHE CORPORATION
Statement of Income
Year Ended December 31, 2020
Sales revenue
$7,216,000
Cost of goods sold
4,400,000
Gross profit
2,816,000
Operating expenses
$1,469,600
Depreciation expense
70,400
1,540,000
Profit before income tax
$1,276,000
Income tax expense
446,600
Net income
$829,400
Additional information:
1.
Accounts receivable decreased $264,000 during the year.
2.
Prepaid expenses increased $176,000 during the year.
3.
Inventory decreased $352,000 during the year....
The current sections of Ayayai Corp.’s balance sheets at
December 31, 2021 and 2022, are presented here. Ayayai Corp.’s net
income for 2022 was $457,200. Depreciation expense was $75,600.
2022
2021
Current assets
Cash
$111,600
$ 160,200
Accounts receivable
153,000
124,200
Inventory
140,400
111,600
Prepaid expenses
30,600
34,200
Total current assets
$435,600
$430,200
Current liabilities
Accrued expenses payable
$ 10,800
$ 28,800
Accounts payable
158,400
129,600
Total current liabilities
$169,200
$ 158,400
Prepare the net cash provided by operating activities...
Rojas Corporation’s comparative balance sheets are presented
below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2020
2019
Cash
$14,500
$10,700
Accounts receivable
20,800
23,800
Land
19,600
26,300
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,700
)
Total
$110,000
$120,200
Accounts payable
$11,800
$28,300
Common stock
75,000
73,400
Retained earnings
23,200
18,500
Total
$110,000
$120,200
Additional information:
1.
Net income was $22,800. Dividends declared and paid were
$18,100.
2.
No noncash investing and financing activities occurred during
2020.
3.
The land...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
Here are comparative balance sheets for Velo Company.
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
The following three accounts appear in the general ledger of
Herrick Corp. during 2020.
Equipment
Date
Debit
Credit
Balance
Jan. 1
Balance
158,600
July 31
Purchase of equipment
69,800
228,400
Sept. 2
Cost of equipment constructed
54,400
282,800
Nov. 10
Cost of equipment sold
49,500
233,300
Accumulated Depreciation—Equipment
Date
Debit
Credit
Balance
Jan. 1
Balance
69,800
Nov. 10
Accumulated depreciation on equipment sold
31,700
38,100
Dec. 31
Depreciation for year
23,400
61,500
Retained Earnings
Date
Debit
Credit
Balance
Jan. 1...
Velo Company
Comparative Balance Sheets
December 31
Assets
2020
2019
Cash
$72,800
$33,200
Accounts receivable
86,500
70,700
Inventory
170,200
187,000
Land
72,700
100,700
Equipment
260,700
200,600
Accumulated depreciation—equipment
(65,700
)
(33,500
)
Total
$597,200
$558,700
Liabilities and Stockholders’ Equity
Accounts payable
$35,400
$46,500
Bonds payable
149,800
203,300
Common stock ($1 par)
218,000
173,000
Retained earnings
194,000
135,900
Total
$597,200
$558,700
Additional information:
1.
Net income for 2020 was $103,600.
2.
Cash dividends of $45,500 were declared and paid.
3.
Bonds...
WileyPLUS Problem 5-10 a (Indirect Method)
The income statement of Tamache Corporation is shown below:
TAMACHE CORPORATION
Statement of Income
Year Ended December 31, 2020
Sales revenue
$7,216,000
Cost of goods sold
4,400,000
Gross profit
2,816,000
Operating expenses
$1,469,600
Depreciation expense
70,400
1,540,000
Profit before income tax
$1,276,000
Income tax expense
446,600
Net income
$829,400
Additional information:
1.
Accounts receivable decreased $264,000 during the year.
2.
Prepaid expenses increased $176,000 during the year.
3.
Inventory decreased $352,000 during the year....
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