Homework Answers
| Treece
Inc. Statement of Cash Flows ( Partial ) For the year ended December 31, 2015 |
||
| Net Income | $ 223,000 | |
| Adjustments to reconcile net income to net cash provided by operations | ||
| Depreciation | $ 115,000 | |
| Dividend income | (104,000) | |
| Interest income | (70,000) | |
| Gain on Sale of Marketable Securities | (4,000) | |
| Decrease in accounts receivable | 70,000 | |
| Increase in accrued interest receivable | (3,000) | |
| Increase in inventories | (35,000) | |
| Increase in short term prepayments | (5,000) | |
| Increase in accounts payable | 8,000 | |
| Decrease in operating expenses payable | (29,000) | |
| Increase in accrued interest payable | 9,000 | |
| Decrease in accrued income taxes payable | (13,000) | (61,000) |
| Net cash provided by operations | 162,000 | |
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Using the information presented in Problem 13.4A, prepare a partial statement of cash flows for the...
The following income statement and selected balance sheet account data are available for Treece, Inc., at...
The following income statement and selected balance sheet account data are available for Treece, Inc., at December 31, 2018. TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2018 Revenue: Net sales $ 2,850,000 Dividend income 104,000 Interest income 70,000 Gain on sales of marketable securities 4,000 Total revenue and gains $ 3,028,000 Costs and expenses: Cost of goods sold $ 1,550,000 Operating expenses 980,000 Interest expense 185,000 Income tax expense 90,000 Total costs and expenses 2,805,000 Net income...
The following income statement and selected balance sheet account de ment and selected balance sheet account...
The following income statement and selected balance sheet account de ment and selected balance sheet account data are available for Trecce. Inc., at December 31, 2015: 1.3.2013.8 OLEN 13.44 ing Operating Cash by the Direct Method TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Revenue: Net sales .......... Dividend Income .. Interest income ......... Gain on sales of marketable securities ... Total revenue and gains Costs and expenses: Cost of goods sold ... $1,550,000 Operating expenses... 980,000...
Help me solve. Prepare a statement of cash flows using the indirect method. Need help solving...
Help me solve. Prepare a statement of cash flows using the
indirect method. Need help solving for the answers in the red
highlighted blanks.
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Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare...
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7. Prepare the operating section of the statement of cash flows under the Indirect method using...
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Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare...
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Cash flows from operating activities for both the indirect and direct methods are presented for Electronic...
Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations. Cash Flows from Operating Activities (Indirect method) Net income $ 35,600 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense 8,600 Increase in accounts receivable (12,600 ) Increase in accounts payable 7,600 Increase in income tax payable 5,600 Net cash flows from operating activities $ 44,800 Cash Flows from Operating Activities (Direct method) Cash received from customers $...
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The following income statement and selected balance sheet account de ment and selected balance sheet account data are available for Trecce. Inc., at December 31, 2015: 1.3.2013.8 OLEN 13.44 ing Operating Cash by the Direct Method TREECE, INC. INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2015 Revenue: Net sales .......... Dividend Income .. Interest income ......... Gain on sales of marketable securities ... Total revenue and gains Costs and expenses: Cost of goods sold ... $1,550,000 Operating expenses... 980,000...
Help me solve. Prepare a statement of cash flows using the
indirect method. Need help solving for the answers in the red
highlighted blanks.
CHENG INC. Comparative Balance Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Investments Equipment Accumulated depreciation-equipment 2020 $119,400 92,500 112,600 29,100 140,600 264,200 2019 $47,400 32,000 102,600 25,300 114,700 243,000 (46,400) (51,600) $712,000$513,400 Total Liabilities and Stockholders' Equity Accounts payable Accrued expenses payablee Bonds payable Common stock Retained earnings $68,000 17,500 149,100 175,100 103,700...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremont Corporation to prepare a statement of cash flows using the indirect method: Accounts payable increase $14,000 Accounts receivable increase 7,000 Accrued liabilities decrease 5,000 Amortization expense 31,000 Cash balance, January 1 21,000 Cash balance, December 31 141,000 Cash paid as dividends 41,000 Cash paid to purchase land 81,000 Cash paid to retire bonds payable at par 70,000 Cash received from issuance of common stock 75,000 Cash received...
Statement of Cash Flows (Indirect Method) Use the following information regarding the Fremantle Corporation to prepare a statement of cash flows using the indirect method 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 75,000 Cash received from sale of equipment Depreciation expense Gain on sale...
Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s). $ 156 Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Decrease in inventory Increase in prepaid rent Decrease in accounts payable Decrease in income tax payable (20) 32 (13) Net cash flows from operating activities $187 $ Cash...
7. Prepare the operating section of the statement of cash flows under the Indirect method using the income statement below. During the year, the accounts payable also increased by $1,200 and accounts receivable decreased by $2,200 $182,100 90.400 $ 91,700 ABC Corporation Income Statement For the Year Ended December 31, 2015 Sales revenue Cost of merchandise sold Gross profit Operating expenses: Salaries expense $41,300 Advertising expense 1.500 Depreciation expense Amortization expense Total operating expenses Income from operations Other income and...
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