Homework Answers
Correct Answer:
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KINGBIRD COMPANY |
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Cash Flow Statement (Partial) |
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For the year ended December 31 2022 |
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Cash Flow from Operating Activities: |
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Net Income |
$ 4,80,900.00 |
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Add: Adjustments |
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Loss on disposal on plant assets |
$ 33,600.00 |
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Depreciation expense |
$ 1,15,500.00 |
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Increase in Accounts receivables |
$ (21,000.00) |
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Increase in Accounts payable |
$ 18,900.00 |
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increase in income tax payable |
$ 12,600.00 |
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$ 1,59,600.00 |
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A. Cash Flow from Operating Activities |
$ 6,40,500.00 |
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End of answer.
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information below.
ZUMBRUNN COMPANY
Income Statement
For the Year Ended December 31, 2017
Service revenue
$970,700
Operating expenses, excluding depreciation
$624,000
Depreciation expense
56,000
Loss on disposal of equipment
25,800
705,800
Income before income taxes
264,900
Income tax expense
39,000
Net income
$225,900
Zumbrunn’s balance sheet contained the comparative data at December
31, shown below.
2017
2016
Accounts receivable
$74,300
$59,700
Accounts payable
40,100
27,900
Income taxes payable
12,300
6,500
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Question 3 View Policies Current Attempt in Progress The following information is available for Shamrock, Inc....
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Zumbrunn Company’s income statement contained the condensed
information below.
ZUMBRUNN COMPANY
Income Statement
For the Year Ended December 31, 2017
Service revenue
$970,700
Operating expenses, excluding depreciation
$624,000
Depreciation expense
56,000
Loss on disposal of equipment
25,800
705,800
Income before income taxes
264,900
Income tax expense
39,000
Net income
$225,900
Zumbrunn’s balance sheet contained the comparative data at December
31, shown below.
2017
2016
Accounts receivable
$74,300
$59,700
Accounts payable
40,100
27,900
Income taxes payable
12,300
6,500
Accounts payable pertain...
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