Homework Answers
| Net Cash From Operating Activities | |
| Net income | 55,000 |
| Depreciation expense | 14,000 |
| Decrease in accounts payable | -3,000 |
| Decrease in inventory | 3,500 |
| Increase in accounts receivable | -5,500 |
| Net cash provided by operating activities | $64,000 |
Third option is correct option.
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The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual...
he data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual...
he data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) $ 48,000 Depreciation Expense $ 10,500 Decrease in Accounts Payable $ 2,650 Decrease in Inventory $ 3,150 Increase in Bonds Payable $ 11,500 Sale of Common Stock for cash $ 30,300 Increase in Accounts Receivable $ 4,800 Based on this information, the net cash provided by (used in) operating activities using the indirect method would be: Multiple Choice $59,500 $62,650 $54,200 $65,700
Given the data below for a firm in its first year of operation, determine net income under the accrual basis of acc...
Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting Revenues earned for the period Cash collected on account Cash paid for expenses Accounts payable Prepaid rent for next period $45,000 12,000 26,000 3,000 7,000 18,000 15,000 19,000 7,000
Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting Revenues earned for the period Cash collected...
Indirect Method - Preparing the Operating Activities Section The following data are from the accounting records...
Indirect Method - Preparing the Operating Activities Section The following data are from the accounting records of Clooney Company. Description Amount Net income (accrual basis) $ 40,000 Depreciation expense 7,800 Decrease in salaries payable 1,200 Decrease in trade accounts receivable 1,800 Increase in merchandise inventory 2,500 Amortization of patent Increase in long-term liabilities 10,000 Sale of capital stock for cash 25,000 Accounts payable increase 4,000 Prepare the operating activities section of the statement of cash flows for Clooney Company using...
Wildcat Company has an accrual basis net income of $175,000 and the following related items: Depreciation...
Wildcat Company has an accrual basis net income of $175,000 and the following related items: Depreciation expense $ 85,000 15,000 Accounts receivable decrease Inventory increase 24,000 18,000 Accounts payable increase How much is Wildcat's net cash flow from operating activities? $260,000 $269,000 $317,000 $251,000
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The accounting records of Hampton Company provided the data below ($ in thousands). Net income Depreciation expense Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Decrease in salaries payable Increase in interest payable $33,300 9,400 5,600 7,100 2,000 4,300 1,400 Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Cash flows from operating activities: Adjustments for...
The accounting records of Hampton Company provided the data below ($ In 000s). Net income Depreciation...
The accounting records of Hampton Company provided the data below ($ In 000s). Net income Depreciation expense Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Decrease in salaries payable Increase in interest payable $21,300 8,200 4,400 5,900 1,400 3,100 800 Required: Prepare a reconciliation of net Income to net cash flows from operating activities. (Amounts to be deducted should be Indicated with a minus sign. Enter your answers in thousands.) Cash flows from operating activities: Adjustments for...
The accounting records of Hampton Company provided the data below ($ in 000s). Net income Depreciation...
The accounting records of Hampton Company provided the data below ($ in 000s). Net income Depreciation expense Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Decrease in salaries payable Increase in interest payable $22,300 8,300 4,500 6,000 1,450 3,200 850 Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Cash flows from operating activities: Adjustments for...
The accounting records of Hampton Company provided the data below ($ in thousands). Net income $...
The accounting records of Hampton Company provided the data below ($ in thousands). Net income $ 23,300 Depreciation expense 8,400 Increase in accounts receivable 4,600 Decrease in inventory 6,100 Decrease in prepaid insurance 1,500 Decrease in salaries payable 3,300 Increase in interest payable 900 Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)
4)The accounting records of rockiness company provided the data below（$ in 000s） Net income $25,200 Depreciation...
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Frankin Corporation's net cash provided by operating activities was $225; its capital expenditures were $90; and its cash dividends were $47. The company's free cash flow was: The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) Depreciation Expense Decrease in Accounts Payable $47,000 $10,000 $2,600 $ 3,100 Decrease in Inventory Increase in Bonds Payable $11,000 Sale of Common Stock for cash $30,200 $ 4,700 Increase in Accounts Receivable Based on this information,...
Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting Revenues earned for the period Cash collected on account Cash paid for expenses Accounts payable Prepaid rent for next period $45,000 12,000 26,000 3,000 7,000 18,000 15,000 19,000 7,000
Given the data below for a firm in its first year of operation, determine net income under the accrual basis of accounting Revenues earned for the period Cash collected...
Indirect Method - Preparing the Operating Activities Section The following data are from the accounting records of Clooney Company. Description Amount Net income (accrual basis) $ 40,000 Depreciation expense 7,800 Decrease in salaries payable 1,200 Decrease in trade accounts receivable 1,800 Increase in merchandise inventory 2,500 Amortization of patent Increase in long-term liabilities 10,000 Sale of capital stock for cash 25,000 Accounts payable increase 4,000 Prepare the operating activities section of the statement of cash flows for Clooney Company using...
Wildcat Company has an accrual basis net income of $175,000 and the following related items: Depreciation expense $ 85,000 15,000 Accounts receivable decrease Inventory increase 24,000 18,000 Accounts payable increase How much is Wildcat's net cash flow from operating activities? $260,000 $269,000 $317,000 $251,000
The accounting records of Hampton Company provided the data below ($ in thousands). Net income Depreciation expense Increase in accounts receivable Decrease in inventory Decrease in prepaid insurance Decrease in salaries payable Increase in interest payable $33,300 9,400 5,600 7,100 2,000 4,300 1,400 Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.) Cash flows from operating activities: Adjustments for...
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Frankin Corporation's net cash provided by operating activities was $225; its capital expenditures were $90; and its cash dividends were $47. The company's free cash flow was: The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) Depreciation Expense Decrease in Accounts Payable $47,000 $10,000 $2,600 $ 3,100 Decrease in Inventory Increase in Bonds Payable $11,000 Sale of Common Stock for cash $30,200 $ 4,700 Increase in Accounts Receivable Based on this information,...
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