Fitz Company reports the following information.
Selected Annual Income Statement Data | Selected Year-End Balance Sheet Data | ||||||
Net income | $ | 397,000 | Accounts receivable decrease | $ | 80,300 | ||
Depreciation expense | 46,800 | Inventory decrease | 48,000 | ||||
Amortization expense | 7,400 | Prepaid expenses increase | 6,200 | ||||
Gain on sale of plant assets | 6,400 | Accounts payable decrease | 10,300 | ||||
Salaries payable increase | 2,400 | ||||||
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.)
Fitz Company reports the following information.
Selected Annual Income Statement Data | Selected Year-End Balance Sheet Data | ||||||
Net income | $ | 397,000 | Accounts receivable decrease | $ | 80,300 | ||
Depreciation expense | 46,800 | Inventory decrease | 48,000 | ||||
Amortization expense | 7,400 | Prepaid expenses increase | 6,200 | ||||
Gain on sale of plant assets | 6,400 | Accounts payable decrease | 10,300 | ||||
Salaries payable increase | 2,400 | ||||||
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.)
Fitz Company | |
Statement of Cash Flows - Indirect method (Partial) | |
For the year ended December 31 | |
$ | |
Cash flows from operating activities | |
Net income | 397,000.00 |
Adjustments to reconcile net income to net Cash flows from operating activities : | |
Income Statement items not affecting cash; | |
Depreciation expense | 46,800.00 |
Amortization expense | 7,400.00 |
Gain on sale of plant assets | (6,400.00) |
Changes in current operating assets and liabilities: | |
Decrease in accounts receivable | 80,300.00 |
Decrease in inventory | 48,000.00 |
Increase in prepaid expenses | (6,200.00) |
Decrease in accounts payable | (10,300.00) |
Increase in salaries payable | 2,400.00 |
Net Cash Flow from Operating Activities | 559,000.00 |
Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data...
Connect Homework: Chapter 12 Fitz Company reports the following information. points Selected Annual Income Statement Selected Year-End Balance Sheet Data Data Net income $397,000 Accounts receivable decrease $103,900 Depreciation expense 46,400 Inventory decrease 46,500 Amortization expense 7,800 Prepaid expenses increase 6,800 Gain on sale of plant 7,100 Accounts payable decrease 9,000 assets Salaries payable increase 1,500 eBook Hint Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31....
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable decrease $100, 500 Depreciation expense 49,489 Inventory decrease 43,500 Amortization expense 8,900 Prepaid expenses increase 7,000 Gain on sale of plant 7,600 Accounts payable decrease 9,700 assets Salaries payable increase 2,400 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...
Salud Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $ 495,000 Accounts receivable increase $ 43,200 Depreciation expense 94,000 Prepaid expenses decrease 16,200 Gain on sale of machinery 26,900 Accounts payable increase 7,600 Wages payable decrease 3,600 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.)
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...
Salud Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $ 495,000 Accounts receivable increase $ 40,800 Depreciation expense 90,500 Prepaid expenses decrease 15,600 Gain on sale of machinery 26,900 Accounts payable increase 6,600 Wages payable decrease 3,300 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31.
Fitz Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Selected 2017 Income Statement Data Net income $379,000 Depreciation expense 46,200 Amortization expense 8,100 Gain on sale of plant assets 7,400 Selected Year-End 2017 Balance Sheet Data Accounts receivable decrease $ 124,900 Inventory decrease 42,000 Prepaid expenses increase 5,500...
seperate questions Hampton company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $71,000 Accounts receivable increase $10, eee Expenses Inventory decrease 3, see Cost of goods sold 41,00 Salaries payable increase 60e Salaries expense 13, see Depreciation expense 8, eee Net income $ 9, eee rd K Required: Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted...
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 74,000 Accounts receivable increase $ 10,000 Expenses: Inventory decrease 3,000 Cost of goods sold 41,000 Salaries payable increase 600 Salaries expense 13,000 Depreciation expense 6,000 Net income $ 14,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $ 72,000 Accounts receivable increase $ 6,000 Expenses Inventory decrease 3,000 Cost of goods sold 40,000 Salaries payable increase 1,000 Salaries expense 10,000 Depreciation expense 7,000 Net income $ 15,000 Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash...
Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Selected 2017 Income Statement Data Net income Depreciation expense Gain on sale of machinery Selected Year-End 2017 Balance Sheet Data $415,000 Accounts receivable increase 84,900 Prepaid expenses decrease 22,400 Accounts payable increase $42,000 12,900 6,200 3,100 Wages payable decrease...