Homework Answers
| Cash flows from operating activities: | ||
| Net income | $225,000 | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Depreciation expense | $25,000 | |
| Gain on disposal of equipment | -$20,500 | |
| Changes in current operating assets and liabilities: | ||
| Decrease in accounts receivable | $14,000 | |
| Decrease in accounts payable | -$3,600 | |
| Net cash flow from operating activities | $239,900 |
Depreciation is a non cash expense and should be added back.
Gain on sales (receipts) should be show in investing activity and hence deducted.
Decrease in accounts receivable means the debtor paid the amount. Hence added.
Decrease in accounts payable means payment is made to creditors. Hence deducted.
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Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts...
Dorman Company reported the following data: Net income $225,000 Depreciation expense 25,000 Gain on disposal of...
Dorman Company reported the following data: Net income $225,000 Depreciation expense 25,000 Gain on disposal of equipment 20,500 Decrease in accounts receivable 14,000 Decrease in account payable 3,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the indirect method.
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain...
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building $118,000 15,000 (10,000) 20,000 Increase in accounts receivable Decrease in accounts payable 7,000 (2,000) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Dorman Company reported the following data: Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in account payable $225.000 25,000 20,500 14,000 3,600...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
Kennedy, Inc. reported the following data: L Net income Depreciation expense Loss on disposal of equipment...
Kennedy, Inc. reported the following data: L Net income Depreciation expense Loss on disposal of equipment Gain on sale of building ding Increase in accounts receivable Decrease in accounts payable $129,466 14,059 9,534 19,192 9,185 3,466 Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows...
The income statement disclosed the following items for the year: depreciation expense $55500 gain on disposal...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Staley Inc. reported the following data: Net income $250,800 Depreciation expense 74,900 Loss on disposal of...
Staley Inc. reported the following data: Net income $250,800 Depreciation expense 74,900 Loss on disposal of equipment 20,700 Increase in accounts receivable 11,000 Increase in accounts payable 10,300 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net...
$ 43,000 6,000 Income Statement: Net Income Depreciation Expense Balance Sheet: Increase in Accounts Receivable Decrease...
$ 43,000 6,000 Income Statement: Net Income Depreciation Expense Balance Sheet: Increase in Accounts Receivable Decrease in Accounts Payable 6,000 2,000 Compute DVR's net cash provided by operating activities-indirect method. Complete the partial Statement of Cash Flows. (Use a minus sign or parentheses for amounts that result in a decrease in cash.) DVR Equipment, Inc. Statement of Cash Flows (Partial) Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash...
Staley Inc. reported the following data: Net income $321,800 Depreciation expense 50,400 L...
Staley Inc. reported the following data: Net income $321,800 Depreciation expense 50,400 Loss on disposal of equipment 21,400 Increase in accounts receivable 14,800 Increase in accounts payable 12,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease)...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
The income statement disclosed the following items for the year Depreciation expense Gain on dispasal of...
The income statement disclosed the following items for the year Depreciation expense Gain on dispasal of equipment27,500 Net income $ 65,000 or the exact wording of the ans 620,000 The changes in the current asset and iabaity accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable Dividends payable $11 200 (6,350) (1200) (4 200) 1,650 2,500 Required A Prepare the Cash Flows from Operating Activities section of the stetement of...
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building $118,000 15,000 (10,000) 20,000 Increase in accounts receivable Decrease in accounts payable 7,000 (2,000) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Dorman Company reported the following data: Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in account payable $225.000 25,000 20,500 14,000 3,600...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
Kennedy, Inc. reported the following data: L Net income Depreciation expense Loss on disposal of equipment Gain on sale of building ding Increase in accounts receivable Decrease in accounts payable $129,466 14,059 9,534 19,192 9,185 3,466 Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
$ 43,000 6,000 Income Statement: Net Income Depreciation Expense Balance Sheet: Increase in Accounts Receivable Decrease in Accounts Payable 6,000 2,000 Compute DVR's net cash provided by operating activities-indirect method. Complete the partial Statement of Cash Flows. (Use a minus sign or parentheses for amounts that result in a decrease in cash.) DVR Equipment, Inc. Statement of Cash Flows (Partial) Year Ended December 31, 2018 Cash Flows from Operating Activities: Net Income Adjustments to Reconcile Net Income to Net Cash...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
The income statement disclosed the following items for the year Depreciation expense Gain on dispasal of equipment27,500 Net income $ 65,000 or the exact wording of the ans 620,000 The changes in the current asset and iabaity accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable Dividends payable $11 200 (6,350) (1200) (4 200) 1,650 2,500 Required A Prepare the Cash Flows from Operating Activities section of the stetement of...
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