Homework Answers
| 1) | |||||||||
| Statement OF Cash Flow ( Direct Method) | |||||||||
| Service Revenue | 81400 | ||||||||
| ($67700+$13700) | |||||||||
| Expesnes | |||||||||
| Salaries And Wages | 33850 | ||||||||
| ($43700-9850) | |||||||||
| Utilitis and Office Expenses | 13395 | ||||||||
| (6850+1870+4675) | |||||||||
| Cash Flow From Operating Activities | 34155 | ||||||||
| 2) | If payment for salaries and wages were to increase by 10 percent thought the year | ||||||||
| the outflow of cash will increase by =$ 43700*10% | |||||||||
| =$4370 | |||||||||
| It will decrease of cash flow from operating activities | |||||||||
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New Vision Company completed its income statement and balance sheet and provided the following information: $67,700...
New Vision Company completed its income statement and balance sheet for 2017 and provided the following...
New Vision Company completed its income statement and balance sheet for 2017 and provided the following information: $ 66,000 Service Revenue Expenses: Salarios Depreciation Utilities Other $42,000 7,300 7,000 1.700 58,000 Net Income $ 8,000 Decrease in Accounts Receivable Bought a small service machine Increase in Salaries Payable Decrease in Other Accrued Liabilities $12,000 5.000 9,000 4.000 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 $2,008,000 983,920 1,024,080 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $275,096 48,192 54,216 Depreciation expense Rent expense Amortization expenses-Patents Utilities expense 6,024 22,088 405,616 618,464 Gain on sale of equipment 8,032 $ 626,496 Net income $8,100 decrease 2,650 decrease Accounts payable Accounts receivable $40, 300 increase 25,275 increase Salaries payable Inventory Prepare the operating activities section of...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense $1,828,000 991,800 837,000 44,20€ 18,125 361,660 475, 340 6.200 Gain on sale of equipment Net income $ 481, 540 Accounts receivable Inventory $30, 500 increase 25,900 increase Accounts payable salaries payable $12,500 decrease 3,508 decrease Prepare the operating activities...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 270,164 Depreciation expense 47,328 Rent expense 53, 244 Amortization expenses-Patents 5,916 Utilities expense 21,692 $1,972,000 966,280 1,005,720 Gain on sale of equipment Net income 398,344 607,376 7,888 $ 615,264 Accounts receivable Inventory $10,600 increase 13,825 increase Accounts payable salaries payable $13,350 decrease 5,650 decrease Prepare the operating activities section...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data Net income $475,000 Accounts receivable increase 90,000 Prepaid expenses decrease 21,500 Accounts payable increase Wages payable decrease $53,600 Depreciation expense Gain on sale of machinery 14,700 6,600 2,200 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash...
The following income statement and additional year-end information is provided. Sints SONAD COMPANY Income Statement For...
The following income statement and additional year-end information is provided. Sints SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $274,959 Depreciation expense 48,168 Rent expense 54,189 Amortization expenses-Patents 6,021 Utilities expense 22,077 $2,007,000 983, 430 1,023,570 Skipped eBook References Gain on sale of equipment Net income 405,414 618, 156 8,028 626,184 $ Accounts receivable Inventory $40,650 increase 39,925 increase Accounts payable Salaries payable $19,900 decrease 2,680 decrease Prepare...
The income statement and selected balance sheet information for Direct Products Company for the year ended...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are presented below. $56.600 Income Statement Sales Revenue Expenses Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 25,000 2,800 9.800 5,300 2,300 2,200 1,800 $ 7,400 Selected Balance Sheet Accounts Ending Balances Accounts Receivable $ 575 Inventory Accounts Payable Prepaid Rent Prepaid Insurance Salaries and Wages Payable Utilities Payable Beginning...
he following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...
he following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,428,000 Cost of goods sold 1,189,720 Gross profit 1,238,280 Operating expenses Salaries expense $ 332,636 Depreciation expense 58,272 Rent expense 65,556 Amortization expenses—Patents 7,284 Utilities expense 26,708 490,456 747,824 Gain on sale of equipment 9,712 Net income $ 757,536 Accounts receivable $ 26,100 increase Accounts payable $ 9,750 decrease Inventory 19,175 increase Salaries payable 2,950 decrease Prepare the operating...
Parra Company completed its income statement and comparative balance sheet for the current year and provided...
Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 66,700 Expenses: Salaries $ 41,900 Depreciation 5,600 Utilities 5,200 Loss on sale of equipment 900 53,600 Net income $ 13,100 Partial Balance Sheet Current Year Prior Year Accounts receivable $ 12,400 $ 24,900 Salaries payable 19,300 10,300 Other accrued liabilities 5,400 9,600 Land 51,900 58,600 Required: Present the operating activities section of the statement of cash...
Using the following income statement and additional year-end information. $2,479,000 1,214,710 1,264,290 SONAD COMPANY Income Statement...
Using the following income statement and additional year-end information. $2,479,000 1,214,710 1,264,290 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $339,623 Depreciation expense 59,496 Rent expense 66,933 Amortization expenses-Patents 7,437 Utilities expense 27,269 500, 758 763,532 9,916 773,448 Gain on sale of equipment Net income $ Accounts receivable Inventory $19,000 increase 13,375 increase Accounts payable salaries payable $14,625 decrease 5,000 decrease Prepare the operating activities section of the...
New Vision Company completed its income statement and balance sheet for 2017 and provided the following information: $ 66,000 Service Revenue Expenses: Salarios Depreciation Utilities Other $42,000 7,300 7,000 1.700 58,000 Net Income $ 8,000 Decrease in Accounts Receivable Bought a small service machine Increase in Salaries Payable Decrease in Other Accrued Liabilities $12,000 5.000 9,000 4.000 Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the indirect method. (Amounts to...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 $2,008,000 983,920 1,024,080 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $275,096 48,192 54,216 Depreciation expense Rent expense Amortization expenses-Patents Utilities expense 6,024 22,088 405,616 618,464 Gain on sale of equipment 8,032 $ 626,496 Net income $8,100 decrease 2,650 decrease Accounts payable Accounts receivable $40, 300 increase 25,275 increase Salaries payable Inventory Prepare the operating activities section of...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense $1,828,000 991,800 837,000 44,20€ 18,125 361,660 475, 340 6.200 Gain on sale of equipment Net income $ 481, 540 Accounts receivable Inventory $30, 500 increase 25,900 increase Accounts payable salaries payable $12,500 decrease 3,508 decrease Prepare the operating activities...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 270,164 Depreciation expense 47,328 Rent expense 53, 244 Amortization expenses-Patents 5,916 Utilities expense 21,692 $1,972,000 966,280 1,005,720 Gain on sale of equipment Net income 398,344 607,376 7,888 $ 615,264 Accounts receivable Inventory $10,600 increase 13,825 increase Accounts payable salaries payable $13,350 decrease 5,650 decrease Prepare the operating activities section...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data Net income $475,000 Accounts receivable increase 90,000 Prepaid expenses decrease 21,500 Accounts payable increase Wages payable decrease $53,600 Depreciation expense Gain on sale of machinery 14,700 6,600 2,200 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash...
The following income statement and additional year-end information is provided. Sints SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $274,959 Depreciation expense 48,168 Rent expense 54,189 Amortization expenses-Patents 6,021 Utilities expense 22,077 $2,007,000 983, 430 1,023,570 Skipped eBook References Gain on sale of equipment Net income 405,414 618, 156 8,028 626,184 $ Accounts receivable Inventory $40,650 increase 39,925 increase Accounts payable Salaries payable $19,900 decrease 2,680 decrease Prepare...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are presented below. $56.600 Income Statement Sales Revenue Expenses Cost of Goods Sold Depreciation Expense Salaries and Wages Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 25,000 2,800 9.800 5,300 2,300 2,200 1,800 $ 7,400 Selected Balance Sheet Accounts Ending Balances Accounts Receivable $ 575 Inventory Accounts Payable Prepaid Rent Prepaid Insurance Salaries and Wages Payable Utilities Payable Beginning...
Using the following income statement and additional year-end information. $2,479,000 1,214,710 1,264,290 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $339,623 Depreciation expense 59,496 Rent expense 66,933 Amortization expenses-Patents 7,437 Utilities expense 27,269 500, 758 763,532 9,916 773,448 Gain on sale of equipment Net income $ Accounts receivable Inventory $19,000 increase 13,375 increase Accounts payable salaries payable $14,625 decrease 5,000 decrease Prepare the operating activities section of the...
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