You are given the following information: sales, $220; expenses other than depreciation, $110; depreciation expense, $60;...
You are given the following information: sales, $220; expenses other than depreciation, $110; depreciation expense, $60; marginal income tax rate, 37%. Calculate the net after-tax cash flow effect of the preceding information using both the indirect and direct methods. (Round your answers to 2 decimal places.)
Indirect method
Pre-tax income -----------------
after-tax income---------------
after-tax cash flow------------
Direct method
After-tax cash operating income-----------
After-tax cash flow---------------
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You are given the following information: sales, $220; expenses
other than depreciation, $110; depreciation expense, $60;...
The following schedule relates the income statement with cash flows from operating activities, derived by both...
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing Income Statement 6.66 points $? Sales Cost of goods sold $ 611 Skipped Cash Flows from Operating Activities Indirect Method Direct Method Net income $ ? Adjustments: Decrease in accounts receivable 11 Cash received from customers Increase in inventory (22) Decrease in accounts payable (35) Cash paid to suppliers Increase in...
6. The following schedule relates the income statement with cash flows from operating activities, derived by...
6.
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. Some elements necessary to complete the schedule are missing. Required: Complete the schedule by determining each of the following missing elements: (Amounts to be deducted should be indicated with a minus sign.) Income Statement $ Sales Gain on sale of equipment Cash flows from Operating Activities Indirect Method Direct Method Net income Adjustments: 355 Decrease in accounts receivable...
The following schedule relates the income statement with cash flows from operating activities, derived by both...
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing. Cash Flows from Operating Activities Income Statement Indirect Method Direct Method Net income $ ? Adjustments: Sales $ ? Decrease in accounts receivable 14 Cash received from customers $ 644 Cost of goods sold ? Increase in inventory (28 ) Decrease in accounts payable (41 ) Cash paid to suppliers (447...
Use the following information to answer questions 16-18 Sales revenue $778,000 Operating expenses excluding depreciation Depreciation...
Use the following information to answer questions 16-18 Sales revenue $778,000 Operating expenses excluding depreciation Depreciation expense Unrealized loss on FV-NI investments Loss on sale of equipment Income before income tax Income tax expense Net Income $499,000 66,000 4,000 14,000 583,000 195,000 58,000 $137,000 There were no purchases or sales of trading (FV-NI) investments during 2014. Ellis’s statement of financial position included the following comparative data at December 31: 2014 2013 Accounts receivable $35,000 $54,000 FV-NI investments 22,000 26,000...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes 4 Income Tax Expense Net Income /(Loss) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.)...
How do we compute net sales? Gelp please Saved Casn Tows Trom operating activities for porn...
How do we compute net sales? Gelp please
Saved Casn Tows Trom operating activities for porn the indirectang direct methods are presented tortlectronic Transformations. $ 34,900 Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flovs from operating activities: Depreciation expense Increase in accounts receivable Increase in accounts payable Increase in income tax payable Net cash flows from operating activities 7,900 (11, 900) 6,900 4,900 $42,700 Cash Flows from Operating Activities (Direct...
Company ABC has sales= € 56225, costs= € 31239, other expenses= € 4500, depreciation expense= €...
Company ABC has sales= € 56225, costs= € 31239, other expenses= € 4500, depreciation expense= € 6200, interest expense= € 5000 and the tax rate 35%. What is the net income?
Cash flows from operating activities for both the indirect and direct methods are presented for Reverse...
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...
6. Presented below is the income statement of Cowan, Inc.: Sales revenue $380,000 Cost of goods...
6. Presented below is the income statement of Cowan, Inc.: Sales revenue $380,000 Cost of goods sold 225.000 Gross profit $155,000 Operating expenses 95,000 Income before income taxes Income taxes 24.000 Net income $ 36,000 60,000 In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $12,000 Accounts receivable 25,000 Inventories $19,400 Salaries payable (operating expenses) 8,000 Accounts payable 14,000 Income taxes payable 3,000 The company also indicates that depreciation expense for the...
Company ABC has sales= € 61325, costs= € 30081, other expenses= € 4500, depreciation expense= €...
Company ABC has sales= € 61325, costs= € 30081, other expenses= € 4500, depreciation expense= € 6200, interest expense= € 5000 and the tax rate 35%. What is the net income? Answer:
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing Income Statement 6.66 points $? Sales Cost of goods sold $ 611 Skipped Cash Flows from Operating Activities Indirect Method Direct Method Net income $ ? Adjustments: Decrease in accounts receivable 11 Cash received from customers Increase in inventory (22) Decrease in accounts payable (35) Cash paid to suppliers Increase in...
6.
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. Some elements necessary to complete the schedule are missing. Required: Complete the schedule by determining each of the following missing elements: (Amounts to be deducted should be indicated with a minus sign.) Income Statement $ Sales Gain on sale of equipment Cash flows from Operating Activities Indirect Method Direct Method Net income Adjustments: 355 Decrease in accounts receivable...
Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes 4 Income Tax Expense Net Income /(Loss) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.)...
How do we compute net sales? Gelp please
Saved Casn Tows Trom operating activities for porn the indirectang direct methods are presented tortlectronic Transformations. $ 34,900 Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flovs from operating activities: Depreciation expense Increase in accounts receivable Increase in accounts payable Increase in income tax payable Net cash flows from operating activities 7,900 (11, 900) 6,900 4,900 $42,700 Cash Flows from Operating Activities (Direct...
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...
6. Presented below is the income statement of Cowan, Inc.: Sales revenue $380,000 Cost of goods sold 225.000 Gross profit $155,000 Operating expenses 95,000 Income before income taxes Income taxes 24.000 Net income $ 36,000 60,000 In addition, the following information related to net changes in working capital is presented: Debit Credit Cash $12,000 Accounts receivable 25,000 Inventories $19,400 Salaries payable (operating expenses) 8,000 Accounts payable 14,000 Income taxes payable 3,000 The company also indicates that depreciation expense for the...
Company ABC has sales= € 61325, costs= € 30081, other expenses= € 4500, depreciation expense= € 6200, interest expense= € 5000 and the tax rate 35%. What is the net income? Answer:
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