Excerpts from Neuwirth Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash...
Excerpts from Neuwirth Corporation's comparative balance sheet appear below:
| Ending Balance | Beginning Balance | |||||
| Cash and cash equivalents | $ | 41,000 | $ | 31,000 | ||
| Accounts receivable | $ | 28,000 | $ | 32,000 | ||
| Inventory | $ | 69,000 | $ | 72,000 | ||
Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method?
Multiple Choice
-
The change in Accounts Receivable is added to net income; The change in Inventory is added to net income
-
The change in Accounts Receivable is subtracted from net income; The change in Inventory is added to net income
-
The change in Accounts Receivable is added to net income; The change in Inventory is subtracted from net income
-
The change in Accounts Receivable is subtracted from net income; The change in Inventory is subtracted from net income
Homework Answers
In statement of cash flow for operating activities (indirect method) if Current assets increase then it would be deducted and when current assets decrease it would be added
So in this question account receivable and inventory both are decrease so it should be added.
So answer is a) The change in Accounts Receivable is added to net income; The change in Inventory is added to net income
Add Answer to:
Excerpts from Neuwirth Corporation's comparative balance sheet
appear below:
Ending Balance
Beginning Balance
Cash and cash...
Excerpts from Aultman Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash...
Excerpts from Aultman Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash equivalents $ 62,000 $ 29,000 Inventory $ 371,000 $ 345,000 Accounts payable $ 71,000 $ 73,000 Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? The change in Inventory is subtracted from net income; The change in Accounts Payable is subtracted from net income The change in Inventory is subtracted...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and cash equivalents 28,000 $ $ 18,000 Accounts payable 17,000 Accrued liabilities $ 34,000 $ 37,000 Which of the following is the correct treatment Ollowing is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? A) The change in Accounts Payable is added to ge in Accounts Payable is added to net income: The change in...
Escerps fom Neurih Coporations conarabi belo. Cash and cash equivalents Accounts receivable Inventory Ending Beginning Balance...
Escerps fom Neurih Coporations conarabi belo. Cash and cash equivalents Accounts receivable Inventory Ending Beginning Balance Balance $51,000 $41,000 $38,000 $42,000e $79,000 $82,000 Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? Multiple Choice The change in Accounts Receivable is subtracted from net income; The change in Inventory is added to net income The change in Accounts Receivable is added to net income; The change in...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Hirshberg Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 42,000 $ 31,000 Accounts receivable 22,000 18,000 Inventory 66,000 70,000 Total current assets 130,000 119,000 Property, plant, and equipment 401,000 377,000 Less accumulated depreciation 207,000 177,000 Net property, plant, and equipment 194,000 200,000 Total assets $ 324,000 $ 319,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 15,000 $ 17,000 Accrued liabilities 45,000 38,000 Income taxes payable...
Kilduff Corporation's balance sheet and Income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance...
Kilduff Corporation's balance sheet and Income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 38 32 707 55 580 316 315 $512 $390 Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 64 41 180 282 $512 136 $390 $1,174 771 Income statement Sales Cost of...
Harkey Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance...
Harkey Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 34 $ 37 Accounts receivable 80 77 Inventory 44 46 Property, plant, and equipment 483 392 Less accumulated depreciation 213 180 Total assets $ 428 $ 372 Liabilities and stockholders' equity: Accounts payable $ 27 $ 29 Accrued liabilities 30 26 Income taxes payable 41 37 Bonds payable 132 180 Common stock 85 87 Retained earnings 113 13...
Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: $ 52 $ 51 Cash and...
Comparative Balance Sheet Ending Beginning Balance Balance Assets Current assets: $ 52 $ 51 Cash and cash equivalents Accounts receivable 84 83 63 61 Inventory 198 196 Total current assets Property, plant, and equipment 702 560 261 294 Less accumulated depreciation 266 441 Net property, plant, and equipment $639 $462 Total assets Liabilities and stockholders' equity: Current liabilities: $ 58 Accounts payable $62 Accrued liabilities 35 34 Income taxes payable 63 67 163 Total current liabilities 156 71 65 Bonds...
Beginning Balance upts 3) Autry Corporation's balance sheet and income statement appear below. Ending Balance Comparative...
Beginning Balance upts 3) Autry Corporation's balance sheet and income statement appear below. Ending Balance Comparative Balance Sheet 26 par 65 159 227 386 - 81 Assets: Current assets! Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 60 48 80 188 540 276 264 $ 452 $ 44 63 63 170 530 263 267 $437 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current...
Illies Corporation's comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Current assets: Cash and cash equivalents $ 55,000 $ 48,000 Accounts receivable 34,000 37,500 Inventory 82,000 85,500 Total current assets 171,000 171,000 Property, plant, and equipment 403,000 369,000 Less accumulated depreciation 186,000 147,000 Net property, plant, and equipment 217,000 222,000 Total assets $ 388,000 $ 393,000 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 33,000 $ 35,500 Accrued liabilities 69,000 75,500 Income taxes payable...
41) Excerpts from Deblois Corporation's comparative balance Ending Beginning Balance Balance $ 22,000 $ Cash and cash equivalents 28,000 $ $ 18,000 Accounts payable 17,000 Accrued liabilities $ 34,000 $ 37,000 Which of the following is the correct treatment Ollowing is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? A) The change in Accounts Payable is added to ge in Accounts Payable is added to net income: The change in...
Escerps fom Neurih Coporations conarabi belo. Cash and cash equivalents Accounts receivable Inventory Ending Beginning Balance Balance $51,000 $41,000 $38,000 $42,000e $79,000 $82,000 Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? Multiple Choice The change in Accounts Receivable is subtracted from net income; The change in Inventory is added to net income The change in Accounts Receivable is added to net income; The change in...
Kilduff Corporation's balance sheet and Income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 38 32 707 55 580 316 315 $512 $390 Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 64 41 180 282 $512 136 $390 $1,174 771 Income statement Sales Cost of...
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Beginning Balance upts 3) Autry Corporation's balance sheet and income statement appear below. Ending Balance Comparative Balance Sheet 26 par 65 159 227 386 - 81 Assets: Current assets! Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock Retained earnings Total...
Marbry Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Beginning Balance Balance $ 60 48 80 188 540 276 264 $ 452 $ 44 63 63 170 530 263 267 $437 Assets: Current assets: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable...
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