Homework Answers
Add Answer to:
Statement of cash flow / indirect method
Ilt: Statement of Cash Flows (48 points) following financial...
hello please help! Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company:...
hello please help!
Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: Cash Accounts receivable Inventory Prepaid rent Land Plant and equipment Accumulated depreciation Totals December 31 2017 2016 $8,600 $10,800 21,500 16,100 17,100 28,600 9,700 6,500 80,600 80,600 430,000 322,500 (69,900) (32,300) $497,600 $432,800 Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $12,900 3,200 37,600 81,000 215,000 147,900 $497,600 $10,800 5,400 26,900 108,000 161,300 120,400 $432,800 Bonds were...
Statement of Cash Flows—Indirect Method Peoria Corp. just completed another successful year, as indicated by the...
Statement of Cash Flows—Indirect Method Peoria Corp. just completed another successful year, as indicated by the following income statement: For the Year Ended December 31, 2017 Sales revenue $1,250,000 Cost of goods sold 700,000 Gross profit $550,000 Operating expenses 150,000 Income before interest and taxes $400,000 Interest expense 25,000 Income before taxes $375,000 Income tax expense 150,000 Net income $225,000 Presented here are comparative balance sheets: December 31 2017 2016 Cash $52,000 $90,000 Accounts receivable 180,000 130,000 Inventory 230,000 200,000...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Hoover Industries, Inc. (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) A (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hoover Industries, Inc., for the year ended December 31, 2017, using the indirect method. Prepare the statement one section at...
Prepare the operating activities section of the statement of cash flows using the indirect method
Pharoah Company's income statement for the year ended December 31, 2017, contained the following condensed information.Service revenue$842,000Operating expenses(excluding depreciation$626,000Depreciation expenses61,000loss on sale of equipment27,000714,000Income before income taxes128,000Income tax expense40,000Net income$88,000Pharoah's balance sheet contained the following comparative data at December 31Particulars20172016Accounts receivable$37,000$56,000Accounts payable39,00033,000Income taxes payable4,1008,400Prepare the operating activities section of the statement of cash flows using the indirect method
Indirect Method - Preparing a statement of Cash Flows Kidman Corp. reported the following financial statements...
Indirect Method - Preparing a statement of Cash Flows Kidman Corp. reported the following financial statements for the year ended December 31, 2020. Balance Sheet, December 31 2019 2020 Difference Cash and cash out $72,000 $185,000 $114,000 Accounts receivable 57,000 45,000 (12,000) Merchandisinventory 93,000 177,000 B4,000 Land 60,000 12,000 (48,000) Equipment 144,000 216,000 72,000 Accumulated depreciation (36,000) 772,0001 (36,000) Total acts $390,000 $564,000 $174,000 Accounts payable $ 48,000 $54,000 $ 6,000 Notes payable, long-term 21,000 6,000 (15,000) Bonds payable 90,000...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the...
Prepare statement of cash flows using the indirect method. The
income statement for 2017 and the balance sheets for 2017 and 2016
are presented for Harding Industries, Inc.
Prepare the statement one section at a time. (Use parentheses
or a minus sign for numbers to be subtracted and for net cash
outflows.)
Harding Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 956,000 381,000 Less: Cost of goods sold Gross profit $575,000 Less operating expenses:...
1). Prepare a statement of cash flows using the indirect method. 2.) Compute free cash flow....
1). Prepare a statement of cash flows using the indirect
method.
2.) Compute free cash flow.
Presented below are the financial statements of Vaughn Manufacturing. Vaughn Manufacturing Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 2016 $59,500 34,000 23,800 34,000 34,000 47,600 102,000 132,600 (54,400) (40,800) $188,700 $183,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $32,300 25,500 13,600 56,100 23,800 64,600...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare a statement of cash flows for Stable Equipment Company for the year ended December 31, 2018. Use the indirect method for the operating activities section of the statement. Information: Net income for the year 2018 was $5,000. Depreciation expense included in net income was $8,000. Accounts receivable decreased $2,000, while inventories increased $4,000. Accounts payable decreased $7,000. During the year, a piece of land...
Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins...
Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, 2016. All amounts are in millions of U.S. dollars. Balance Sheets 2015 2016 $300 600 400 400 1,700 6,200 (2,100) 4,100 $5,800 $550 1,500 500 150 2,700 6,100 (1,750) 4,350 $7,050 Accounts Receiwable Prepaid Expenses Current Assets Property, Plant and Equipment at Cost Less Accumulated Depreciation Property, Plant and Equipment, Net Total Assets Liabilities and Shareholders...
Cash Flow Statement Using the data below, prepare a statement of cash flows (indirect method) for...
Cash Flow Statement Using the data below, prepare a statement of cash flows (indirect method) for Hanger Corporation for the year 2018 December 31 2018 2017 Cash 72,000 26,000 Account Receivable 98,500 76,900 Inventory 145,000 165,000 Prepaid rent 6,800 6,100 Land 110,000 70,000 Building 268,000 226,000 Accumulated depreciation (29,000) (9,000) Equipment 15,000 30,000 686,300 591,000 Accounts Payable 89,000 83,000 Salaries Payable 49,500 59,900 Bonds payable 115,000 60,000 Common stock 110,000 110,000 Retained earnings 332,800 281,100 Treasury stock at cost (10,000)...
hello please help!
Statement of Cash Flows-Indirect Method The following balances are available for Chrisman Company: Cash Accounts receivable Inventory Prepaid rent Land Plant and equipment Accumulated depreciation Totals December 31 2017 2016 $8,600 $10,800 21,500 16,100 17,100 28,600 9,700 6,500 80,600 80,600 430,000 322,500 (69,900) (32,300) $497,600 $432,800 Accounts payable Income taxes payable Short-term notes payable Bonds payable Common stock Retained earnings Totals $12,900 3,200 37,600 81,000 215,000 147,900 $497,600 $10,800 5,400 26,900 108,000 161,300 120,400 $432,800 Bonds were...
Prepare statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Hoover Industries, Inc. (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) A (Click the icon to view additional information.) Requirement Prepare a statement of cash flows for Hoover Industries, Inc., for the year ended December 31, 2017, using the indirect method. Prepare the statement one section at...
Indirect Method - Preparing a statement of Cash Flows Kidman Corp. reported the following financial statements for the year ended December 31, 2020. Balance Sheet, December 31 2019 2020 Difference Cash and cash out $72,000 $185,000 $114,000 Accounts receivable 57,000 45,000 (12,000) Merchandisinventory 93,000 177,000 B4,000 Land 60,000 12,000 (48,000) Equipment 144,000 216,000 72,000 Accumulated depreciation (36,000) 772,0001 (36,000) Total acts $390,000 $564,000 $174,000 Accounts payable $ 48,000 $54,000 $ 6,000 Notes payable, long-term 21,000 6,000 (15,000) Bonds payable 90,000...
Prepare statement of cash flows using the indirect method. The
income statement for 2017 and the balance sheets for 2017 and 2016
are presented for Harding Industries, Inc.
Prepare the statement one section at a time. (Use parentheses
or a minus sign for numbers to be subtracted and for net cash
outflows.)
Harding Industries, Inc. Income Statement For the Year Ended December 31, 2017 Sales revenues $ 956,000 381,000 Less: Cost of goods sold Gross profit $575,000 Less operating expenses:...
1). Prepare a statement of cash flows using the indirect
method.
2.) Compute free cash flow.
Presented below are the financial statements of Vaughn Manufacturing. Vaughn Manufacturing Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Total 2017 2016 $59,500 34,000 23,800 34,000 34,000 47,600 102,000 132,600 (54,400) (40,800) $188,700 $183,600 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total $32,300 25,500 13,600 56,100 23,800 64,600...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare a statement of cash flows for Stable Equipment Company for the year ended December 31, 2018. Use the indirect method for the operating activities section of the statement. Information: Net income for the year 2018 was $5,000. Depreciation expense included in net income was $8,000. Accounts receivable decreased $2,000, while inventories increased $4,000. Accounts payable decreased $7,000. During the year, a piece of land...
Preparing a Statement of Cash Flows (Indirect Method) The following financial statements were issued by Hoskins Corporation for the fiscal year ended December 31, 2016. All amounts are in millions of U.S. dollars. Balance Sheets 2015 2016 $300 600 400 400 1,700 6,200 (2,100) 4,100 $5,800 $550 1,500 500 150 2,700 6,100 (1,750) 4,350 $7,050 Accounts Receiwable Prepaid Expenses Current Assets Property, Plant and Equipment at Cost Less Accumulated Depreciation Property, Plant and Equipment, Net Total Assets Liabilities and Shareholders...
Most questions answered within 3 hours.
-
A solid, uniform disk of radius 0.250 m and mass 53.7 kg rolls
down a ramp...
asked 1 hour ago -
Given the following table of high speed internet access vs.
annual home income:
Home Income
%...
asked 2 hours ago -
A baseball batter hits a 0.145kg baseball straight up into the
air. The baseball leaves the...
asked 2 hours ago -
An FM modulator is tested using
single-tone baseband signal with frequency of 50kHz and a sprectrum...
asked 3 hours ago -
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 4 hours ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 5 hours ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 6 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 6 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 7 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 7 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 7 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 7 hours ago