Homework Answers
Burch Corporation :
| Decrease in cash account = Net cash provided by (used in) operating activities + Net cash provided by (used in) investing activities + Net cash provided by (used in) financing activities |
| (34000) = Net cash provided by (used in) operating activities + 8900 + (31500) |
| (34000) = Net cash provided by (used in) operating activities + (22600) |
| Net cash provided by (used in) operating activities = (34000) - (22600) = (11400) |
Dorder :
| Purchase of plant and equipment | $ (39,000) |
| Sale of long-term investment | $ 18,000 |
| Dividends received on long-term investments | $ 10,000 |
| Net cash provided (used in) investing activities | $ (11,000) |
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2.
Last year Burch Corporation's cash account decreased by $34,000. Net cash provided by (used in)...
Last year Burch Corporation's cash account decreased by $26,000. Net cash provided by (used in) investing...
Last year Burch Corporation's cash account decreased by $26,000. Net cash provided by (used in) investing activities was $8,100. Net cash provided by (used in) financing activities was $(24,000). On the statement of cash flows, the net cash provided by (used in) operating activities was: Multiple Choice Ο $15,900 Ο Ο $(26,000) Ο $(41,900) Ο $(10,100)
Burns Corporation's net income last year was $99,000. Changes in the company's balance sheet accounts for...
Burns Corporation's net income last year was $99,000. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings $ 46,800 $ 37,000 $(44,000) $ 11,200 $ 55,000 $ 85,000 $ 61,000 $(44,000) $ 34,000 $ 64,000 $(75,000) $ 73,000 $ 78,000...
Net cash provided by (used for) investing activities 3. Calculate the net cash flow from financing...
Net cash provided by (used for) investing activities 3. Calculate the net cash flow from financing activities for the year. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use parentheses or a minus sign for numbers to be subtracted or net cash outflows.) Financing Activities: (12) (13) (14) Net cash provided by (used for) financing activities 4. What was the net change in cash for the...
48) Norbury Corporation's net income last year was $34,000. The company did not sello anly property,...
48) Norbury Corporation's net income last year was $34,000. The company did not sello anly property, plant, and equipment last year. Changes in selected balance sheet accounts year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable $ 12,000 $ (9,000) $ 4,000 $ 19,000 $ $ $ 5,000 7,000 6,000) Based solely on this information, the net cash provided by (used in) operating activities...
McCorey Corporation recorded the following events last year: Repurchase by the company of its own common...
McCorey Corporation recorded the following events last year: Repurchase by the company of its own common stock $ 29,000 Sale of long-term investment $ 48,000 Interest paid to lenders $ 9,500 Dividends paid to the company's shareholders $ 58,000 Collection by McCorey of a loan made to another company $ 34,000 Payment of taxes to governmental bodies $ 19,500 On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities,...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and cash equivalents 28,000 $ $ 18,000 Accounts payable 17,000 Accrued liabilities $ 34,000 $ 37,000 Which of the following is the correct treatment Ollowing is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? A) The change in Accounts Payable is added to ge in Accounts Payable is added to net income: The change in...
Telfer, Inc. reported net income of $2.6 million in 2020. Depreciation for the year was $157,700, accounts receivable decreased $375,000, and accounts payable decreased $267,200.
Telfer, Inc. reported net income of $2.6 million in 2020. Depreciation for the year was $157,700, accounts receivable decreased $375,000, and accounts payable decreased $267,200.Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Telfer, Inc.Statement of Cash Flows-Indirect Approach For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020 Cash at Beginning of PeriodCash at End of PeriodCash Flows...
Burns Corporation's net income last year was $97,400. Changes in the company's balance sheet accounts for...
Burns Corporation's net income last year was $97,400. Changes in the company's balance sheet accounts for the year appear below Increases (Decreases) Asset and Contra-Asset Accounts: $ 18,800 $ 13,800 $ (17,600) $ 4,400 $ 10,900 $75,600 $ 32,900 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable $ (18,700) 17,100 $ 4,200 $ (64,200) $ 41,600 $ 93,000 Accrued 1iabilities Income taxes payable Bonds payable...
please disrgard my work 1. Dauber Corporation's com appear below: Der Corporation's comparative balance sheet and...
please disrgard my work
1. Dauber Corporation's com appear below: Der Corporation's comparative balance sheet and income statement for last year Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Comparative Balance Sheet Ending Balance $ 64,000 57,000 58,000 18,000 290,000 520,000 390,000 $ 617.000 Beginning Balance $ 39,000 25.UULAS ACESS 44,000 +13 Cod increase 70,000 - 12000 Derete 10,000 +8000 ince 230,000 Gacuo increase 520,000 - 358,000+32oce include...
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...
Last year Burch Corporation's cash account decreased by $26,000. Net cash provided by (used in) investing activities was $8,100. Net cash provided by (used in) financing activities was $(24,000). On the statement of cash flows, the net cash provided by (used in) operating activities was: Multiple Choice Ο $15,900 Ο Ο $(26,000) Ο $(41,900) Ο $(10,100)
Burns Corporation's net income last year was $99,000. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings $ 46,800 $ 37,000 $(44,000) $ 11,200 $ 55,000 $ 85,000 $ 61,000 $(44,000) $ 34,000 $ 64,000 $(75,000) $ 73,000 $ 78,000...
Net cash provided by (used for) investing activities 3. Calculate the net cash flow from financing activities for the year. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use parentheses or a minus sign for numbers to be subtracted or net cash outflows.) Financing Activities: (12) (13) (14) Net cash provided by (used for) financing activities 4. What was the net change in cash for the...
48) Norbury Corporation's net income last year was $34,000. The company did not sello anly property, plant, and equipment last year. Changes in selected balance sheet accounts year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable $ 12,000 $ (9,000) $ 4,000 $ 19,000 $ $ $ 5,000 7,000 6,000) Based solely on this information, the net cash provided by (used in) operating activities...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and cash equivalents 28,000 $ $ 18,000 Accounts payable 17,000 Accrued liabilities $ 34,000 $ 37,000 Which of the following is the correct treatment Ollowing is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? A) The change in Accounts Payable is added to ge in Accounts Payable is added to net income: The change in...
Telfer, Inc. reported net income of $2.6 million in 2020. Depreciation for the year was $157,700, accounts receivable decreased $375,000, and accounts payable decreased $267,200.Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Telfer, Inc.Statement of Cash Flows-Indirect Approach For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020 Cash at Beginning of PeriodCash at End of PeriodCash Flows...
Burns Corporation's net income last year was $97,400. Changes in the company's balance sheet accounts for the year appear below Increases (Decreases) Asset and Contra-Asset Accounts: $ 18,800 $ 13,800 $ (17,600) $ 4,400 $ 10,900 $75,600 $ 32,900 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liability and Equity Accounts: Accounts payable $ (18,700) 17,100 $ 4,200 $ (64,200) $ 41,600 $ 93,000 Accrued 1iabilities Income taxes payable Bonds payable...
please disrgard my work
1. Dauber Corporation's com appear below: Der Corporation's comparative balance sheet and income statement for last year Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Less accumulated depreciation Total assets Comparative Balance Sheet Ending Balance $ 64,000 57,000 58,000 18,000 290,000 520,000 390,000 $ 617.000 Beginning Balance $ 39,000 25.UULAS ACESS 44,000 +13 Cod increase 70,000 - 12000 Derete 10,000 +8000 ince 230,000 Gacuo increase 520,000 - 358,000+32oce include...
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