Homework Answers
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Cash flows from operating activities |
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Net income.......................................................... |
$155,200 |
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Adjustments to reconcile
net income to |
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Depreciation expense................................. |
$41,700 |
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Increase in accounts payable................... |
9,943 |
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Increase in accounts receivable............... |
(15,580) |
36,063 |
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Net cash provided by operating activities.... |
$191,263 |
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Current Attempt in Progress Flint Company reported 2020 net income of $155,200. During 2020, accounts receivable...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
Collaborations Current Attempt in Progress WileyPLUS Support The current sections of Flint Corporation's balance sheets at...
Collaborations Current Attempt in Progress WileyPLUS Support The current sections of Flint Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Flint Corporation's net income for 2022 was $215,900. Depreciation expense was $35,700. 2022 2021 Current assets Cash $52,700 $ 75,650 Accounts receivable 72,250 58,650 Inventory 66,300 52,700 Prepaid expenses 14,450 16,150 Total current assets $205,700 $203,150 Current liabilities Accrued expenses payable $5,100 74,800 $13,600 61,200 Accounts payable Total current liabilities $79,900 $74,800 Prepare the net cash...
Question 1 Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation expense...
Question 1 Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $15,100 for the year, a $17,100 increase in accounts payable, and a $3,000 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...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for t...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100 Compute net cash provided by operating activities 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).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 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 with either...
Gutierrez Company reported net income of $194,300 for 2017. Gutierrez also reported depreciation expense of $46,800...
Gutierrez Company reported net income of $194,300 for 2017.
Gutierrez also reported depreciation expense of $46,800 and a loss
of $5,900 on disposal of equipment. The comparative balance sheet
shows an decrease in accounts receivable of $19,800 for the year, a
$21,800 increase in accounts payable, and a $3,400 decrease in
prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2017. Use the indirect method. (Show amounts
that decrease cash flow with either a -...
Blossom Company reported net income of $ 173.510 for 2017.Blossom Company also reported depreciation expense of...
Blossom Company reported net income of $ 173.510 for 2017.Blossom Company also reported depreciation expense of $36,350 and a loss of $ 5,320 on the disposal of plant assets.The comparative balance sheets show an increase in accounts receivable of $ 14,990 for the year, a $ 17,520increase in accounts payable, and a $ 3,960 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash...
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of...
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of $193,400 for 2020. Gutierrez also reported depreciation expense of $45,600 and a loss of $6,000 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,000 for the year, a $13,000 increase in accounts payable, and a $5,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the...
Flint Co. reported $149,900 of net income for 2017. The accountant, in preparing the statement of...
Flint Co. reported $149,900 of net income for 2017. The accountant, in preparing the statement of cash flows, noted the following items occurring during 2017 that might affect cash flows from operating activities 1. Flint purchased 100 shares of treasury stock at a cost of $20 per share. These shares were then resold at $25 per share. 2. Flint sold 100 shares of IBM common at $190 per share. The acquisition cost of these shares was $130 per share. There...
Exercise 13-4 Gutierrez Company reported net income of $194,700 for 2017. Gutierrez also reported depreciation expense...
Exercise 13-4 Gutierrez Company reported net income of $194,700 for 2017. Gutierrez also reported depreciation expense of $47,700 and a loss of $4,900 on disposal of equipment. The comparative balance sheet shows an decrease in accounts receivable of $19,900 for the year, a $21,900 increase in accounts payable, and a $3,200 decrease in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either...
-/8 Question 18 of 50 View Policies Current Attempt in Progress Pancho Company reported net income of $240,000 for 2020. Pancho sold equipment that cost $108,000 and had a book value of $64,800 for $54,800. The comparative balance sheet shows a decrease in accounts receivable of $21,000 for the year, a $14,000 increase in accounts payable, a $3,000 increase in prepaid expenses, and a $19,000 increase in accumulated depreciation. Prepare the operating activities section of the statement of cash flows...
Collaborations Current Attempt in Progress WileyPLUS Support The current sections of Flint Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Flint Corporation's net income for 2022 was $215,900. Depreciation expense was $35,700. 2022 2021 Current assets Cash $52,700 $ 75,650 Accounts receivable 72,250 58,650 Inventory 66,300 52,700 Prepaid expenses 14,450 16,150 Total current assets $205,700 $203,150 Current liabilities Accrued expenses payable $5,100 74,800 $13,600 61,200 Accounts payable Total current liabilities $79,900 $74,800 Prepare the net cash...
Question 1 Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $15,100 for the year, a $17,100 increase in accounts payable, and a $3,000 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...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100 Compute net cash provided by operating activities 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).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million...
Gutierrez Company reported net income of $196,600 for 2020. Gutierrez also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 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 with either...
Gutierrez Company reported net income of $194,300 for 2017.
Gutierrez also reported depreciation expense of $46,800 and a loss
of $5,900 on disposal of equipment. The comparative balance sheet
shows an decrease in accounts receivable of $19,800 for the year, a
$21,800 increase in accounts payable, and a $3,400 decrease in
prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2017. Use the indirect method. (Show amounts
that decrease cash flow with either a -...
Blossom Company reported net income of $ 173.510 for 2017.Blossom Company also reported depreciation expense of $36,350 and a loss of $ 5,320 on the disposal of plant assets.The comparative balance sheets show an increase in accounts receivable of $ 14,990 for the year, a $ 17,520increase in accounts payable, and a $ 3,960 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash...
ent CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Exercise 17-04 Gutierrez Company reported net income of $193,400 for 2020. Gutierrez also reported depreciation expense of $45,600 and a loss of $6,000 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,000 for the year, a $13,000 increase in accounts payable, and a $5,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the...
Flint Co. reported $149,900 of net income for 2017. The accountant, in preparing the statement of cash flows, noted the following items occurring during 2017 that might affect cash flows from operating activities 1. Flint purchased 100 shares of treasury stock at a cost of $20 per share. These shares were then resold at $25 per share. 2. Flint sold 100 shares of IBM common at $190 per share. The acquisition cost of these shares was $130 per share. There...
Exercise 13-4 Gutierrez Company reported net income of $194,700 for 2017. Gutierrez also reported depreciation expense of $47,700 and a loss of $4,900 on disposal of equipment. The comparative balance sheet shows an decrease in accounts receivable of $19,900 for the year, a $21,900 increase in accounts payable, and a $3,200 decrease in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either...
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