Homework Answers
| Q1 Answer | C. $18 | |
| Q2 Answer | D.$ 20 | |
| Q3 Answer | C.($2) | |
| Q4 Answer | C. $36 | |
| Cash Flow From operating Activity | ||
| Net Income | 40 | |
| Add: depreciation Expenses | 5 | |
| Less: Profit on Sale of assets ( Note-1) | 25 | |
| 20 | ||
| Changes in Working Capital | ||
| Decrease in Accr. Rec. | 6 | |
| Decrease in Accr. Pay | -3 | |
| Increase in Suppliers | -5 | -2 |
| Net Operating cash Flow | 18 | |
| Net Cash Flow From Investing Activity | ||
| Proceeds From sale of Assets | 30 | |
| Purchase of Assets | -10 | |
| 20 | ||
| Net Cash Flow From Financing Activity | ||
| Broughback of Shares | -10 | |
| Issue of Common Shares | 8 | |
| -2 | ||
| Net Increase in cash and cashequivalent | 36 | |
| Note -1 | ||
| Profit on sale of Assets | ||
| Original cost | 50 | |
| Less: Acc.Depn. | 45 | |
| Net WDV | 5 | |
| Sale Value | 30 | |
| Profit on sale of Assets | 25 | |
| Q5 Answer | C. $5000 | |
| Cost of Equipment | 25000 | |
| Accumulated Depn on Equipment | 17000 | |
| Net WDv | 8000 | |
| Loss on Sale of Equipment | -3000 | |
| Sale value = Net WDV less Loss on FA | 5000 | |
| (8000-3000) | ||
| Q6 Answer | B. False | |
| Q7 Answer | B. False | |
| ( Common Stock is part of financing activity of company) | ||
| Q8 Answer | A. True | |
| ( When
Dividend received from the investment made in the common stock it's
included in the cash flow from the Investing activities. Where as whenever the Divided Paid it always included in the Cash flow of Financing activity) |
||
| Q9 Answer | A. True | |
| Dividend paid | -135000 | |
| Sold Shares | 30000 | |
| Net Cash Flow | -105000 | |
| Q10 Answer | B. False | |
| ( all the gain should be deducted and losses are added ) | ||
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Chapter 13 Quiz Version B The following information is available. Calculate the cash flow for operating...
a. increase in cash flow from operating activities. b. decrease in cash flow from operating activities....
a. increase in cash flow from operating activities. b. decrease in cash flow from operating activities. C.. increase in cash flow from investing activities. d. decrease in cash flow from investing activities. e. increase in cash flow from financing activities. f. decrease in cash flow from financing activities. g. not a cash flow. 1. Payment on the principal portion of long-term debt 2. Issuance of bonds 3. Increase in accounts receivable 4. Cash dividends declared and not yet paid 5....
Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc.: Amount...
Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc.: Amount Selected Income Statement Information Net income $37,590 Depreciation expense 8,900 Selected Balance Sheet Information Beginning Balance Ending Balance Accounts receivable $21,200 $27,950 Inventory 45,800 40,125 Accounts payable 23,700 32,600 uido Prepare the net cash flows from operating activities using the indirect method. Cornelius Inc. Net Cash Flows from Operating Activities Using Indirect Method Cash flows from operating activities: Net income 37590 Adjustments to reconcile...
Cullumber Company issued the following statement of cash flows for 2020. Cullumber Company Statement of Cash...
Cullumber Company issued the following statement of cash flows for 2020. Cullumber Company Statement of Cash Flows—Indirect Method For the Year Ended December 31, 2020 Cash flows from operating activities Net income $55,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense $8,900 Loss on disposal of plant assets 8,300 Increase in inventory (4,700 ) Decrease in accounts receivable 3,000 Decrease in accounts payable (2,300 ) 13,200 Net cash provided by operating activities 68,200 Cash...
Statement of Cash Flows The following are several items involving Tejera Company's cash flow activities for...
Statement of Cash Flows The following are several items involving Tejera Company's cash flow activities for 2019: a. Net income, $66,400 b. Receipt from issuance of common stock, $36,000 c. Payment for purchase of equipment, $41,600 d. Payment for purchase of land, $19,600 e. Depreciation expense, $20,500 f. Patent amortization expense, $1,200 g. Payment of dividends, $21,000 h. Decrease in salaries payable, $2,600 i. Increase in accounts receivable, $10,600 j. Beginning cash balance, $30,800 Required Prepare Tejera's statement of cash...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare a statement of cash flows using the indirect method: Accounts payable increase $14,000 Accounts receivable increase 7,000 Accrued liabilities decrease 5,000 Amortization expense 31,000 Cash balance, January 1 21,000 Cash balance, December 31 141,000 Cash paid as dividends 41,000 Cash paid to purchase land 81,000 Cash paid to retire bonds payable at par 70,000 Cash received from issuance of common stock 75,000 Cash received...
Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Operating Activities Burch Company reported the following...
Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Operating Activities Burch Company reported the following items in its statement of financial position and statement of earnings information: decrease in cash account, $5,000; increase in accounts receivable, $15,000, increase in inventory, $13,000; decrease in accounts payable, $11,000; increase in income taxes payable, $6,000; net income, $36,000; depreciation expense, $17,000 Required: Compute the net cash flows from operating activities using the indirect method.
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow...
Determining Net Income from Net Cash Flow from Operating
Activities
Curwen Inc. reported net cash flow from operating activities of
$196,600 on its statement of cash flows for the year ended December
31. The following information was reported in the Cash Flows from
Operating Activities section of the statement of cash flows, using
the indirect method:
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $196,600 on its statement...
True of false: 1. if a company uses the direct method of calculating net cash flows from operating activities, it must adjust net income for gains or losses when selling property when selling property...
True of false: 1. if a company uses the direct method of calculating net cash flows from operating activities, it must adjust net income for gains or losses when selling property when selling property, plant, & equipment 2. when preparing the operating activities section of the statement of cash flows using the indirect method, an increase in income taxes payable is added to net income 3. the issuance of a stock dividend is a cash outflow in the financing activities...
How do you compute free cash flow amount $ at the bottom for the answers provided...
How do you compute free cash flow amount $ at the bottom for the
answers provided above?
Your answer is partially correct. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts that decrease cash flow with either a-signeg -45,000 or in po Pharoah Company Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operating Activities Net Income 18,450 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation...
a. increase in cash flow from operating activities. b. decrease in cash flow from operating activities. C.. increase in cash flow from investing activities. d. decrease in cash flow from investing activities. e. increase in cash flow from financing activities. f. decrease in cash flow from financing activities. g. not a cash flow. 1. Payment on the principal portion of long-term debt 2. Issuance of bonds 3. Increase in accounts receivable 4. Cash dividends declared and not yet paid 5....
Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc.: Amount Selected Income Statement Information Net income $37,590 Depreciation expense 8,900 Selected Balance Sheet Information Beginning Balance Ending Balance Accounts receivable $21,200 $27,950 Inventory 45,800 40,125 Accounts payable 23,700 32,600 uido Prepare the net cash flows from operating activities using the indirect method. Cornelius Inc. Net Cash Flows from Operating Activities Using Indirect Method Cash flows from operating activities: Net income 37590 Adjustments to reconcile...
Statement of Cash Flows The following are several items involving Tejera Company's cash flow activities for 2019: a. Net income, $66,400 b. Receipt from issuance of common stock, $36,000 c. Payment for purchase of equipment, $41,600 d. Payment for purchase of land, $19,600 e. Depreciation expense, $20,500 f. Patent amortization expense, $1,200 g. Payment of dividends, $21,000 h. Decrease in salaries payable, $2,600 i. Increase in accounts receivable, $10,600 j. Beginning cash balance, $30,800 Required Prepare Tejera's statement of cash...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare a statement of cash flows using the indirect method: Accounts payable increase $14,000 Accounts receivable increase 7,000 Accrued liabilities decrease 5,000 Amortization expense 31,000 Cash balance, January 1 21,000 Cash balance, December 31 141,000 Cash paid as dividends 41,000 Cash paid to purchase land 81,000 Cash paid to retire bonds payable at par 70,000 Cash received from issuance of common stock 75,000 Cash received...
Brief Exercise 11-31 (Algorithmic) Determining Net Cash Flow from Operating Activities Burch Company reported the following items in its statement of financial position and statement of earnings information: decrease in cash account, $5,000; increase in accounts receivable, $15,000, increase in inventory, $13,000; decrease in accounts payable, $11,000; increase in income taxes payable, $6,000; net income, $36,000; depreciation expense, $17,000 Required: Compute the net cash flows from operating activities using the indirect method.
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...
Determining Net Income from Net Cash Flow from Operating
Activities
Curwen Inc. reported net cash flow from operating activities of
$196,600 on its statement of cash flows for the year ended December
31. The following information was reported in the Cash Flows from
Operating Activities section of the statement of cash flows, using
the indirect method:
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $196,600 on its statement...
How do you compute free cash flow amount $ at the bottom for the
answers provided above?
Your answer is partially correct. Prepare a statement of cash flows for 2019 using the indirect method. (Show amounts that decrease cash flow with either a-signeg -45,000 or in po Pharoah Company Statement of Cash Flows For the Year Ended December 31, 2019 Cash Flows from Operating Activities Net Income 18,450 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation...
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