Homework Answers
| Cash flow from operating activities | |
| Net income | 122000 |
| Adjustment to reconcile net income to net cash flow from operating activities | |
| Decrease account receivable | 2200 |
| Increase prepaid insurance | -500 |
| Increase account payable | 800 |
| Decrease accrued liabilities | -300 |
| Net cash flow from operating activities | 124200 |
Add Answer to:
EA6. LO 16.3 Use the following information from Birch Company's balance sheets to determine net cash...
9:38 FinancialAccounting_ISM_Ch16.... PA4. LO 16.3 Use the following information from Coconut Company's financial statements to prepare...
9:38 FinancialAccounting_ISM_Ch16.... PA4. LO 16.3 Use the following information from Coconut Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Dec 31, 2018 Dec 31, 2017 Cash 5201,000 $175.000 Accounts Receivable 22.000 21.500 Inventory 33.750 30.500 Prepaid Rene 6.000 2.000 Accounts Payable 19.500 28.750 Additional information: Net income 55.000 Depreciation expense 11.500 Solution Operating Activities Net Income Depreciation Expense Accounts Receivable Inventory Prepaid Rent Accounts Payable Net cash...
TEA9. LO 16.3 Use the following excerpts from Eagle Company's financial records to determine net cash...
TEA9. LO 16.3 Use the following excerpts from Eagle Company's financial records to determine net cash flows from financing activities. Acquired new plant assets Borrowed from bank, note payable Declared and paid dividends to shareholders $18,000 40,000 15,000
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec....
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
E12-13 Preparing and Evaluating a Statement of Cash Flows (Indirect Method) from Comparative Balance Sheets and...
E12-13 Preparing and Evaluating a Statement of Cash Flows (Indirect Method) from Comparative Balance Sheets and Income Statements [LO 12-1, LO 12-2, LO 12-3, LO 12-4, LO 12-5] Consultex, Inc. was founded in 2012 as a small financial consulting business. The company had done reasonably well in 2012–2014 but started noticing its cash dwindle early in 2015. In January 2015, Consultex had paid $20,000 to purchase land and repaid $2,000 principal on an existing promissory note. In March, the company...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
The current sections of Ivanhoe Company's balance sheets at December 31, 2021 and 2022, are presented...
The current sections of Ivanhoe Company's balance sheets at December 31, 2021 and 2022, are presented here. Ivanhoe Company's net income for 2022 was $165,100. Depreciation expense was $27,300. 2022 2021 Current assets Cash $40,300 $57,850 Accounts receivable 55,250 44,850 Inventory 50,700 40,300 Prepaid expenses 11,050 12,350 Total current assets $157,300 $155,350 Current liabilities Accrued expenses payable $3,900 $10,400 Accounts payable 57,200 46,800 Total current liabilities $61,100 $57,200 Prepare the net cash provided by operating activities section of the company's...
*EA10.10 16.3 Use the following excerpts from Fruitcake Company's financial records to determine net cash flows...
*EA10.10 16.3 Use the following excerpts from Fruitcake Company's financial records to determine net cash flows from investing activities. Acquired new plant assets Collected interest on investment assets Sold land used in business $18,000 4,000 36,500
Ray Inc.’s Balance Sheets At December 31, 2021, and 2022 Instructions Prepare the net cash provided...
Ray Inc.’s Balance Sheets At December 31, 2021, and 2022
Instructions Prepare the net cash provided by operating activities section of the compa the year ended December 31, 2022, using the indirect method. E126 (LO 2), AP The current sections of Ray Inc.'s balance sh sented here. Ray's net income for 2022 was $254.000. Depreciation expense S section of the company's statement of cash flows for the operating activities -Indirect method Kay Inc.'s balance sheets at December 31, 2021 and...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770.000 Cost of Goods Sold $550,000 Wages Expense 195,0DD Advertising Expense 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss 125,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable...
9:38 FinancialAccounting_ISM_Ch16.... PA4. LO 16.3 Use the following information from Coconut Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Dec 31, 2018 Dec 31, 2017 Cash 5201,000 $175.000 Accounts Receivable 22.000 21.500 Inventory 33.750 30.500 Prepaid Rene 6.000 2.000 Accounts Payable 19.500 28.750 Additional information: Net income 55.000 Depreciation expense 11.500 Solution Operating Activities Net Income Depreciation Expense Accounts Receivable Inventory Prepaid Rent Accounts Payable Net cash...
TEA9. LO 16.3 Use the following excerpts from Eagle Company's financial records to determine net cash flows from financing activities. Acquired new plant assets Borrowed from bank, note payable Declared and paid dividends to shareholders $18,000 40,000 15,000
Homework: Chapter 16 Calculator Print Item Use the following information from Berlin Company's financial statements. Dec. 31, 2018 Dec 31, 2017 Assets Cash $30,000 $24,000 12.000 Accounts Receivable 10,000 Prepaid Assets 1,000 1,200 $41,200 Total Assets $37,000 Liabilities and Equity Accrued Liabilities 1,700 1,800 Common Stock 33,000 35,000 Retained Earnings 6,500 200 Total Liabilities and Equity $41,200 $37,000 Additional Information: Net Income $5,800 Dividends Pald -500 Prepare the operating activities section of the statement of cash flows (Indirect method) for...
Determining Net Cash Flow from Operating Activities Presented below are selected statement of financial position information and the statement of earnings information for Burch Company. Selected Statement of Financial Position Information Dec. 31, 2018 Dec. 31, 2017 Cash $17,500 $20,000 10,500 8,000 18,000 21,000 Accounts receivable Inventory Accounts payable Income taxes payable 10,000 15,000 1,000 2,500 Burch Company Statement of Earnings For the year ended December 31, 2018 Sales Cost of goods sold Depreciation expense $250,000 (160,000) (15,000) (35,000) (12,000)...
The current sections of Sheridan Company's balance sheets at December 31, 2019 and 2020, are presented here. Sheridan's net income for 2020 was $152,700. Depreciation expense was $24,300. 2019 2018 Current assets Cash Accounts receivable Inventory $107,100 $95,300 109,200 78,300 157,800 171,100 26,100 25,300 $400,200 $370,000 Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable $15,300 $9,900 84,700 95,300 $100,000 $105,200 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement...
The current sections of Ivanhoe Company's balance sheets at December 31, 2021 and 2022, are presented here. Ivanhoe Company's net income for 2022 was $165,100. Depreciation expense was $27,300. 2022 2021 Current assets Cash $40,300 $57,850 Accounts receivable 55,250 44,850 Inventory 50,700 40,300 Prepaid expenses 11,050 12,350 Total current assets $157,300 $155,350 Current liabilities Accrued expenses payable $3,900 $10,400 Accounts payable 57,200 46,800 Total current liabilities $61,100 $57,200 Prepare the net cash provided by operating activities section of the company's...
*EA10.10 16.3 Use the following excerpts from Fruitcake Company's financial records to determine net cash flows from investing activities. Acquired new plant assets Collected interest on investment assets Sold land used in business $18,000 4,000 36,500
Ray Inc.’s Balance Sheets At December 31, 2021, and 2022
Instructions Prepare the net cash provided by operating activities section of the compa the year ended December 31, 2022, using the indirect method. E126 (LO 2), AP The current sections of Ray Inc.'s balance sh sented here. Ray's net income for 2022 was $254.000. Depreciation expense S section of the company's statement of cash flows for the operating activities -Indirect method Kay Inc.'s balance sheets at December 31, 2021 and...
Statement of Cash Flows (Indirect Method) North Company's income statement and comparative balance sheets as of December 31 of 2019 and 2018 follow: NORTH COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $770.000 Cost of Goods Sold $550,000 Wages Expense 195,0DD Advertising Expense 31,000 Depreciation Expense 24,000 Interest Expense 20,000 Gain on Sale of Land (25,000) 795,000 Net Loss 125,000) NORTH COMPANY Balance Sheets Dec. 31, 2019 Dec 31, 2018 Assets Cash $80,000 $32,000 Accounts Receivable...
Most questions answered within 3 hours.
-
If tcalc = -2.78, tcrit = 1.96, H0: Mu > Mu0, and Xbar <
Mu0, what...
asked 19 minutes ago -
Circular distribution
•Suppose two birds are flying, one is flying from the north and
the other...
asked 18 minutes ago -
please answer all... it all counts as a discussion problem
1a qualitative data and proportions: Suppose...
asked 23 minutes ago -
Typing The Answer Is Mandatory
Temperature is a measure of heat. More heat means that more...
asked 13 minutes ago -
An ideal gas ( 2.00 mol) is the working substance in an engine
that operates on...
asked 10 minutes ago -
Assume you are working with a standard deck of 52 cards. There
are 13 cards (2,...
asked 17 minutes ago -
A cell phone company offers two plans to its subscribers. At the
time new subscribers sign...
asked 16 minutes ago -
Write a program that reads a floating point number and prints
“zero” if the number is...
asked 21 minutes ago -
Geoff has been running a restaurant in the city for many years.
He knows from experience...
asked 30 minutes ago -
NaOH is added to a buffer solution composed of C6H5COOH and
C6H5COO―. Which of the following...
asked 22 minutes ago -
Program: Write a complete C++ program that is
made of functions main() and rShift(). The rShift()...
asked 30 minutes ago -
Extended exposure can cause hearing loss. Is this
sensorineural hearing loss or conduction hearing loss? Explain....
asked 39 minutes ago