Tropical Tours reported revenue of $419,000 for its year ended December 31, 2018. Accounts receivable at...
Tropical Tours reported revenue of $419,000 for its year ended December 31, 2018. Accounts receivable at December 31, 2017 and 2018, were $36,900 and $30,400, respectively. Using the direct method for reporting cash flows from operating activities, Tropical Tours would report cash collected from customers of:
Multiple Choice
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$425,500.
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$412,500.
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$419,000.
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$455,900.
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Tropical Tours reported revenue of $419,000 for its year ended
December 31, 2018. Accounts receivable at...
Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. Purchases...
Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. Purchases totaled $153,800. Accounts payable balances at the beginning and end of the year were $36,900 and $31,500, respectively. Beginning and ending inventory balances were $42,200 and $48,000, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $206,200. $159,600. $159,200. $228,600.
On December 31, 2018, Wellstone Company reported net income of $76,000 and sales of $215,000. The...
On December 31, 2018, Wellstone Company reported net income of $76,000 and sales of $215,000. The company also reported beginning and ending accounts receivable at $18,500 and $29,500, respectively. Wellstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of:
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is...
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is presented below. $131,200 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Collections from customers $ 393,000 Interest on note receivable 4,800 Dividends received from investments 3,200 Purchase of inventory (194,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,800) Net cash flows from operating activities Cash flows from investing activities: Collection...
1. 2. 3. In preparing its cash flow statement for the year ended December 31, 2018,...
1.
2.
3.
In preparing its cash flow statement for the year ended December 31, 2018, Green Co. gathered the following data: $12,900 Gain on sale of land Proceeds from sale of land 21,800 Purchase of Black, Inc., bonds (face value $230,000) 363,000 Amortization of bond discount 4,600 Cash dividends declared 98,000 Cash dividends paid 72,000 Proceeds from sales of Green Co. common stock 155,000 In its December 31, 2018, statement of cash flows, what amount should Green report as...
Lucia Ltd. reported net income of $135,500 for the year ended December 31, 2021. January 1...
Lucia Ltd. reported net income of $135,500 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $27,200 and $26,100, respectively. Year-end balances in these accounts were $30,200 and $22,100, respectively. Assuming that all relevant information has been presented, Lucia's cash flows from operating activities would be: Multiple Choice $142,500. $128,500. $78,100. $138,500.
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January...
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $24.400 respectively. Year-end balances in these accounts were $22,000 and $28,700, respectively. Assuming that all relevant Information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $48,000 $45,300 $39.400 $51,200
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases...
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases totaled $153,900. Accounts payable balances at the beginning and end of the year were $36,700 and $31,100, respectively. Beginning and ending inventory balances were $42,400 and $46,100, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $159,500. $226,500 $207,900. $157,600.
The cash flows of Driscoll Supply Company for the year ended December 31, 2018 are summarized...
The cash flows of Driscoll Supply Company for the year ended December 31, 2018 are summarized below. a. Operating Activities b. Investing Activities c. Financing Activities Cash collected from customers Interest payments on Notes Payable Proceeds from sale of machinery. Cash paid for purchase of equipment. Proceeds from issuing capital stock Cash paid for purchases of inventory Cash paid for utilities Payment for dividend Proceeds from issuance of Notes Payable
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January...
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $25,600 respectively. Year-end balances in these accounts were $21,000 and $29,600, respectively. Assuming that all relevant information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $45,300. $51,900. O $46,700. O $38,700.
The statement of cash flows for the year ended December 31, 2018, for Bronco Metals is presented below. $131,200 BRONCO METALS Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Collections from customers $ 393,000 Interest on note receivable 4,800 Dividends received from investments 3,200 Purchase of inventory (194,000) Payment of operating expenses (67,000) Payment of interest on note payable (8,800) Net cash flows from operating activities Cash flows from investing activities: Collection...
1.
2.
3.
In preparing its cash flow statement for the year ended December 31, 2018, Green Co. gathered the following data: $12,900 Gain on sale of land Proceeds from sale of land 21,800 Purchase of Black, Inc., bonds (face value $230,000) 363,000 Amortization of bond discount 4,600 Cash dividends declared 98,000 Cash dividends paid 72,000 Proceeds from sales of Green Co. common stock 155,000 In its December 31, 2018, statement of cash flows, what amount should Green report as...
Lucia Ltd. reported net income of $135,500 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $27,200 and $26,100, respectively. Year-end balances in these accounts were $30,200 and $22,100, respectively. Assuming that all relevant information has been presented, Lucia's cash flows from operating activities would be: Multiple Choice $142,500. $128,500. $78,100. $138,500.
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $24.400 respectively. Year-end balances in these accounts were $22,000 and $28,700, respectively. Assuming that all relevant Information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $48,000 $45,300 $39.400 $51,200
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases totaled $153,900. Accounts payable balances at the beginning and end of the year were $36,700 and $31,100, respectively. Beginning and ending inventory balances were $42,400 and $46,100, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $159,500. $226,500 $207,900. $157,600.
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $25,600 respectively. Year-end balances in these accounts were $21,000 and $29,600, respectively. Assuming that all relevant information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $45,300. $51,900. O $46,700. O $38,700.
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