Homework Answers
Answer-1:
Sales revenue
Answer-2:
Year-5
Answer-3:
Year-6
Answer-4:
In year-4, cash received from customer is greater than sales revenue, the year balance of account receivable is 0.
Answer-5:
Cash paid
Add Answer to:
Data Visualization 21-1 Operating cash flows vs. net Income You are Controller for the Transportation Division...
You are Controller for the Transportation Division of Second Data Inc. A new manager for the...
You are Controller for the Transportation Division of Second Data Inc. A new manager for the division has been appointed and is trying to understand all aspects of operations. Most of her training and experience is in marketing and is having trouble grasping accrual accounting. To aid in your explanation to the manager you derived the graphs below. Presented in the left graph are trends in sales revenue and cash received from customers over a six-year period. In the right...
You are Controller for the Transportation Division of Second Data Inc. A new manager for the...
You are Controller for the Transportation Division of Second
Data Inc. A new manager for the division has been appointed and is
trying to understand all aspects of operations. Most of her
training and experience is in marketing and is having trouble
grasping accrual accounting. To aid in your explanation to the
manager you derived the graphs below.
Presented in the left graph are trends in sales revenue and cash
received from customers over a six-year period. In the right...
Presented in the left graph are trends in sales revenue and cash received from customers over...
Presented in the left graph are trends in sales revenue and cash received from customers over a six-year period. In the right graph are trends in cost of goods sold and cash paid for inventory over a six-year period. All inventory is purchased with cash. Sales Revenue vs. Cash Received from Customers Cost of Goods Sold vs. Cash Paid for Inventory $120,000 $450,000 $400,000 $100,000 $350,000 $80,000 $300,000 $60,000 $250,000 $200,000 $150,000 $40,000 $100,000 $20,000 $50,000 So $0 Year 1...
Calculating Operating Cash Flows (Direct Method) Chakravarthy Company's current year income statement reports the following: Sales...
Calculating Operating Cash Flows (Direct Method) Chakravarthy Company's current year income statement reports the following: Sales $1,237,500 Cost of goods sold 825,000 Gross profit $412,500 Chakravarthy's comparative balance sheets show the following (accounts payable relate to merchandise purchases): End of Year Beg. of Year Accounts receivable $106,500 $90,000 Inventory 163,500 144,000 Accounts payable 46,500 55,500 Compute Chakravarthy's current-year cash received from customers and cash paid for merchandise purchased. Cash received from customers $ Cash paid for merchandise $
Operating Cash Flows (Direct Method) The Washington Company owns no plant assets and had the following...
Operating Cash Flows (Direct Method) The Washington Company owns no plant assets and had the following income statement for the year: Sales revenue $900,000 Cost of goods sold $470,000 Wages expense 120,000 Rent expense 50,000 Insurance expense 15,000 655,000 Net income $245,000 Additional information about the company includes: Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year Beginning of Year $54,000 $51,000 60,000 76,000 7,000 24,000 18,000 7,000 11,000 8,000 Calculate the cash flow from operating activities...
Operating Cash Flows (Direct Method) Howell Company's current-year income statement reports the following. Sales. ...... .........
Operating Cash Flows (Direct Method) Howell Company's current-year income statement reports the following. Sales. ...... ...... $785,000 Cost of goods sold.............. 450,000 Gross profit. ................... $335,000 Howell's comparative balance sheets show the following (accounts payable relate to merchandise purchases). End of Year Accounts receivable. ....... $ 68,000 Inventory........... 109,000 Prepaid expenses... 2,000 Accounts payable... 31,000 Beginning of Year $60,000 99,000 8,000 36,000 Compute Howell's current-year cash received from customers and cash paid for merchandise purchased.
Data Visualization 8-1 Deferred revenue
National Champions University has a football stadium that seats up to 80,000 fans. Details include: Six home games each year.Season passes are sold for $400 each ($100 per game). All 60,000 season passes are sold over the period January through August (prior to the season). Cash is received at the time of the sale.The six home games consist of two in September, three in October, and one in November.The bar graphs show the total cash received from season pass sales and...
The income statement and a schedule reconciling cash flows from operating activities to net incom...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold $148.60 89.30 59.30 Gross margin Salaries expense Insurance expense Depreciation expense Interest expense Gains and losses: $18.60 11.60 4.30 5.30 (39.80) Gain on sale of equipment Loss on sale of land 10.60 (1.60 28.50 Income before tax Income...
4. The income statement and a schedule reconciling cash flows from operating activities to net income...
4. The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 148.80 Cost of goods sold (89.40 ) Gross margin 59.40 Salaries expense $ 18.80 Insurance expense 11.80 Depreciation expense 4.40 Interest expense 5.40 (40.40 ) Gains and losses: Gain on sale of equipment 10.80 Loss on sale of land (1.80...
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $151.40 Cost of goods sold (90.70) Gross margin 60.70 Salaries expense $21.40 Insurance expense 13.40 Depreciation expense 5.70 Interest expense 6.70 (47.20) Gains and losses: Gain on sale of equipment 13.40 Loss on sale of land (4.40) Income before tax 22.50 Income...
You are Controller for the Transportation Division of Second Data Inc. A new manager for the division has been appointed and is trying to understand all aspects of operations. Most of her training and experience is in marketing and is having trouble grasping accrual accounting. To aid in your explanation to the manager you derived the graphs below. Presented in the left graph are trends in sales revenue and cash received from customers over a six-year period. In the right...
You are Controller for the Transportation Division of Second
Data Inc. A new manager for the division has been appointed and is
trying to understand all aspects of operations. Most of her
training and experience is in marketing and is having trouble
grasping accrual accounting. To aid in your explanation to the
manager you derived the graphs below.
Presented in the left graph are trends in sales revenue and cash
received from customers over a six-year period. In the right...
Presented in the left graph are trends in sales revenue and cash received from customers over a six-year period. In the right graph are trends in cost of goods sold and cash paid for inventory over a six-year period. All inventory is purchased with cash. Sales Revenue vs. Cash Received from Customers Cost of Goods Sold vs. Cash Paid for Inventory $120,000 $450,000 $400,000 $100,000 $350,000 $80,000 $300,000 $60,000 $250,000 $200,000 $150,000 $40,000 $100,000 $20,000 $50,000 So $0 Year 1...
Calculating Operating Cash Flows (Direct Method) Chakravarthy Company's current year income statement reports the following: Sales $1,237,500 Cost of goods sold 825,000 Gross profit $412,500 Chakravarthy's comparative balance sheets show the following (accounts payable relate to merchandise purchases): End of Year Beg. of Year Accounts receivable $106,500 $90,000 Inventory 163,500 144,000 Accounts payable 46,500 55,500 Compute Chakravarthy's current-year cash received from customers and cash paid for merchandise purchased. Cash received from customers $ Cash paid for merchandise $
Operating Cash Flows (Direct Method) The Washington Company owns no plant assets and had the following income statement for the year: Sales revenue $900,000 Cost of goods sold $470,000 Wages expense 120,000 Rent expense 50,000 Insurance expense 15,000 655,000 Net income $245,000 Additional information about the company includes: Accounts receivable Inventory Prepaid insurance Accounts payable Wages payable End of Year Beginning of Year $54,000 $51,000 60,000 76,000 7,000 24,000 18,000 7,000 11,000 8,000 Calculate the cash flow from operating activities...
Operating Cash Flows (Direct Method) Howell Company's current-year income statement reports the following. Sales. ...... ...... $785,000 Cost of goods sold.............. 450,000 Gross profit. ................... $335,000 Howell's comparative balance sheets show the following (accounts payable relate to merchandise purchases). End of Year Accounts receivable. ....... $ 68,000 Inventory........... 109,000 Prepaid expenses... 2,000 Accounts payable... 31,000 Beginning of Year $60,000 99,000 8,000 36,000 Compute Howell's current-year cash received from customers and cash paid for merchandise purchased.
National Champions University has a football stadium that seats up to 80,000 fans. Details include: Six home games each year.Season passes are sold for $400 each ($100 per game). All 60,000 season passes are sold over the period January through August (prior to the season). Cash is received at the time of the sale.The six home games consist of two in September, three in October, and one in November.The bar graphs show the total cash received from season pass sales and...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold $148.60 89.30 59.30 Gross margin Salaries expense Insurance expense Depreciation expense Interest expense Gains and losses: $18.60 11.60 4.30 5.30 (39.80) Gain on sale of equipment Loss on sale of land 10.60 (1.60 28.50 Income before tax Income...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $151.40 Cost of goods sold (90.70) Gross margin 60.70 Salaries expense $21.40 Insurance expense 13.40 Depreciation expense 5.70 Interest expense 6.70 (47.20) Gains and losses: Gain on sale of equipment 13.40 Loss on sale of land (4.40) Income before tax 22.50 Income...
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