Homework Answers
1) Change in cash = Sources - Uses
Change in cash = $620 - 260 + 245 - 275
Change in cash = $330
Cash increased by $330
2) A decrease in inventory is a source of cash.
A decrease in accounts payable is a use of cash.
An increase in notes payable is a source of cash.
An increase in accounts receivable is a use of cash
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You are given the following information for Thrice Corp Decrease in inventory Decrease in accounts payable...
You are given the following information for Thrice Corp.: Decrease in inventory Decrease in accounts payable...
You are given the following information for Thrice Corp.: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $590 245 230 260 Did cash go up or down? By how much? Cash Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable is a An increase in accounts receivable is a HO
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable...
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $ 480 190 175 205 Did cash go up or down? By how much? Cash by Classify each event as a source or use of cash. Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable isa An...
You are given the following information for Thrice Corp.: Decrease in inventory $ 450 Decrease in...
You are given the following information for Thrice Corp.: Decrease in inventory $ 450 Decrease in accounts payable 175 Increase in notes payable 160 Increase in accounts receivable 190 Did cash go up or down? By how much? Classify each event as a source or use of cash.
Sources and Uses of Cash [LO1] Based only on the following information for Thrice Corp., did...
Sources and Uses of Cash [LO1] Based only on the following information for Thrice Corp., did cash go up or down? By how much? Classify each event as a source or use of cash. Decrease in Inventory $375 Decrease in accounts payable 220 Increase in Notes Payable 290 Increase in accounts receivable 270
You are given the following information for Shinoda Corp.: Decrease in inventory $ 564 Decrease in...
You are given the following information for Shinoda Corp.: Decrease in inventory $ 564 Decrease in accounts payable 248 Increase in notes payable 295 Increase in accounts receivable 277 How much is the change in cash? (round to 2 decimal places)
Q Financial Management Esc x | Q Finance 301-Quiz, Flash. | t html Saved Quiz #1...
Q Financial Management Esc x | Q Finance 301-Quiz, Flash. | t html Saved Quiz #1 Fin 361 Based only on the following information for Thrice Corp., did cash go up or down? By how much? Classify each event as a source or use of cash. 15 Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $450 170 580 280 Multiple Choice Cash decreased by $580 Cash increased by $580 Cash increased by $1,140...
Answer choices given on the left side: (Indirect Method) Decrease in accounts payable Decrease in accounts...
Answer choices given on the left side: (Indirect Method)
Decrease in accounts payable
Decrease in accounts receivable
Decrease in income tax payable
Decrease in inventory
Decrease in prepaid rent
Decrease in salaries payable
Depreciation expense
Increase in accounts payable
Increase in accounts receivable
Increase in income tax payable
Increase in inventory
Increase in prepaid rent
Increase in salaries payable
Net income
Net loss
Operating expense
Portions of the financial statements for Alliance Technologies are provided below. $405,000 ALLIANCE TECHNOLOGIES Income...
Use the following info about Can Corp. 2017. Accounts payable decrease 10,000 Accounts receivable increase 5000...
Use the following info about Can Corp. 2017. Accounts payable decrease 10,000 Accounts receivable increase 5000 Wages payable decrease 4000 Amortization expense 7000 Cash paid as dividends 30,000 Cash paid to purchase land 85,000 Cash paid to retire bonds payable at par 55,000 Cash received from issuance of common stock 40,000 Cash received from sale of equipment 20,000 Depreciation expense 30,000 Gain on sale of equipment 5,000 Inventory decrease 12,000 Net income 75,000 Prepaid expenses increase 1,000 What is the...
The following information is available for Bernard Corporation for 2019: Net income $223,000 Decrease in accounts...
The following information is available for Bernard Corporation for 2019: Net income $223,000 Decrease in accounts receivable 8,100 Increase in inventory 18,300 Decrease in prepaid rent 2,100 Increase in salaries payable 4,410 Decrease in income taxes payable 4,270 Increase in notes payable (due 2023) 50,000 Depreciation expense 44,700 Loss on disposal of equipment 11,000 Required: Compute the net cash flows from operating activities using the indirect method.
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease)...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
You are given the following information for Thrice Corp.: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $590 245 230 260 Did cash go up or down? By how much? Cash Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable is a An increase in accounts receivable is a HO
You are given the following information for Thrice Corp: Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $ 480 190 175 205 Did cash go up or down? By how much? Cash by Classify each event as a source or use of cash. Classify each event as a source or use of cash. A decrease in inventory is a A decrease in accounts payable is a An increase in notes payable isa An...
Q Financial Management Esc x | Q Finance 301-Quiz, Flash. | t html Saved Quiz #1 Fin 361 Based only on the following information for Thrice Corp., did cash go up or down? By how much? Classify each event as a source or use of cash. 15 Decrease in inventory Decrease in accounts payable Increase in notes payable Increase in accounts receivable $450 170 580 280 Multiple Choice Cash decreased by $580 Cash increased by $580 Cash increased by $1,140...
Answer choices given on the left side: (Indirect Method)
Decrease in accounts payable
Decrease in accounts receivable
Decrease in income tax payable
Decrease in inventory
Decrease in prepaid rent
Decrease in salaries payable
Depreciation expense
Increase in accounts payable
Increase in accounts receivable
Increase in income tax payable
Increase in inventory
Increase in prepaid rent
Increase in salaries payable
Net income
Net loss
Operating expense
Portions of the financial statements for Alliance Technologies are provided below. $405,000 ALLIANCE TECHNOLOGIES Income...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
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