* Net income = $10,000 * Depreciation expense =$4,000 * Decrease in accounts payable = $1,500...
* Net income = $10,000
* Depreciation expense =$4,000
* Decrease in accounts payable = $1,500
* Increase in bonds payable = = $9,000
* Sales of long-term investment = $8,000
* Purchase of plant and equipment = $2,000
* Sales of common stock for cash = $7,700
* Increase in inventory = $8,000
* Paid off bonds payable = $2,200
* Decrease in accounts receivable = $5,000
Required:
a) The net cash provided by operating activities would be:
b) The net cash provided by investing activities would be:
c) The net cash provided by financing activities would
be:
Homework Answers
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* Net income = $10,000
* Depreciation expense =$4,000
* Decrease in accounts payable = $1,500...
Q2 (Statement of Cash Flows). Based on the above information, what amount will be reported as...
Q2 (Statement of Cash Flows). Based on the above information, what amount will be reported as the net cash provided by operating, investing, and financing activities for the year on the statement of cash flows. Net Income = $10,000 • Depreciation expense = $4,000 • Decrease in accounts payable = $1,500 • Increase in bonds payable = $8,000 * Sales of long-term investment = $2,000 * Purchase of plant and equipment - $7,000 * Sales of common stock for cash...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000 11. Based on the above information, what amount will the corporation report as Cash Provided by Operating Activities on the cash flow statement? A. $65,000 B. $125,000 C$155,000 D. $100,000 I Net Income Depreciation expense Gain on sale of truck Proceeds from sale of truck Decrease in accounts receivable $200,000 30,000 5,000 8,000 10,000 12. Assuming these are the only facts, what amount will...
Exercise 17-04 Gutierrez Company reported net income of $197,600 for 2020. Gutierrez also reported depreciation expense...
Exercise 17-04 Gutierrez Company reported net income of $197,600 for 2020. Gutierrez also reported depreciation expense of $43,800 and a loss of $5,200 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $12,500 for the year, a $14,500 increase in accounts payable, and a $3,200 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method. (Show amounts that decrease cash flow...
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...
Question 1 Gutierrez Company reported net income of $190,400 for 2020. Gutierrez also reported depreciation expense...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
The change in each of Kendall Corporation's balance sheet accounts last year follows: Increase Decrease Cash...
The change in each of Kendall Corporation's balance sheet accounts last year follows: Increase Decrease Cash and cash equivalents $ 3,000 Accounts receivable $ 2,000 Inventory $ 3,000 Prepaid Expenses $ 4,000 Long-term Investments $ 15,000 Property, Plant and Equipment $ 10,000 Accumulated Depreciation $ 8,000 Accounts payable $ 9,000 Accrued Liabilities $ 6,000 Bonds Payable $ 13,000 Common Stock $ 5,000 Retained Earnings $ 4,000 Kendall Corporation's income statement for the year was: Sales $ 300,000 Cost of goods...
Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash...
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Net income $100,000; Depreciation expense $10,000; Net increase in accounts: receivable $5,000; Net increase in accounts:...
Net income $100,000; Depreciation expense $10,000; Net increase in accounts: receivable $5,000; Net increase in accounts: payable $3,000; On the basis of the information provided in the table above for a corporation, the corporation’s net cash flow from operating activities for the current year is what?
Gutierrez Company reported net income of $190,100 for 2017. Gutierrez also reported depreciation expense of $46,700...
Gutierrez Company reported net income of $190,100 for 2017.
Gutierrez also reported depreciation expense of $46,700 and a loss
of $4,600 on disposal of equipment. The comparative balance sheet
shows an decrease in accounts receivable of $12,500 for the year, a
$14,500 increase in accounts payable, and a $4,600 decrease in
prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2017. Use the indirect method. (Show amounts
that decrease cash flow with either a -...
Complete the cash flow from Operating Activities Additions to Net Income Decrease in accounts receivable Decrease...
Complete the cash flow from Operating Activities
Additions to Net Income Decrease in accounts receivable Decrease in inventory Decrease in prepaid assets Increase in accounts payable Increase in accrued liabilities Deductions from Net Income Increase in accounts receivable Increase in inventory Increase in prepaid assets Decrease in accounts payable Decrease in accrued liabilities 450 $300 Cash Flow From Operating Activities Net Income $110 Net Cash Provided by Operating Activities 2011 80 115 Cash Flows From Investing Activities Income Statement For...
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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...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
Accounts payable increase Accounts receivable increase Accrued liabilities decrease Amortization expense Cash balance, January 1 Cash balance, December 31 Cash paid as dividends Cash paid to purchase land Cash paid to retire bonds payable at par Cash received from issuance of common stock Cash received from sale of equipment Depreciation expense Gain on sale of equipment Inventory decrease Net income Prepaid expenses increase Average current liabilities $13,500 6,000 4,500 9,000 33,000 22,500 43.500 135,000 90,000 52,500 25,500 43,500 6,000 19,500...
Gutierrez Company reported net income of $190,100 for 2017.
Gutierrez also reported depreciation expense of $46,700 and a loss
of $4,600 on disposal of equipment. The comparative balance sheet
shows an decrease in accounts receivable of $12,500 for the year, a
$14,500 increase in accounts payable, and a $4,600 decrease in
prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2017. Use the indirect method. (Show amounts
that decrease cash flow with either a -...
Complete the cash flow from Operating Activities
Additions to Net Income Decrease in accounts receivable Decrease in inventory Decrease in prepaid assets Increase in accounts payable Increase in accrued liabilities Deductions from Net Income Increase in accounts receivable Increase in inventory Increase in prepaid assets Decrease in accounts payable Decrease in accrued liabilities 450 $300 Cash Flow From Operating Activities Net Income $110 Net Cash Provided by Operating Activities 2011 80 115 Cash Flows From Investing Activities Income Statement For...
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