E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO...
E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO 12-2, LO 12-5] New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $ 66,000 Expenses: Salaries and Wages $ 42,000 Depreciation 7,300 Utilities 6,000 Office 1,700 57,000 Net Income $ 9,000 Decrease in Accounts Receivable $ 12,000 Paid cash for equipment 5,000 Increase in Salaries and Wages Payable 9,000 Decrease in Accounts Payable 4,250 Required: Present...
E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO 12-2, LO 12-5] New Vision Company completed its income statement and balance sheet and provided the following information: Service Revenue $ 66,000 Expenses: Salaries and Wages $ 42,000 Depreciation 7,300 Utilities 6,000 Office 1,700 57,000 Net Income $ 9,000 Decrease in Accounts Receivable $ 12,000 Paid cash for equipment 5,000 Increase in Salaries and Wages Payable 9,000 Decrease in Accounts Payable 4,250 Required: Present...
I especially need help with part 2, thank you. E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO 12-2, LO 12-5] New Vision Company completed its income statement and balance sheet and provided the following information: $66,000 Service Revenue Expenses: Salaries and Wages Depreciation Utilities Office Net Income Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable $ 42,000 7,300 6,000 1,700 57,000 $...
E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2 The following information pertains to Peak Heights Company: E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2 The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 86,100 Expenses Cost of goods sold $ 51,775 Depreciation expense 7,800 Salaries expense 11,900 71,475 Net income $ 14,625 Partial Balance Sheet Current year Prior year Accounts receivable $ 10,100 $ 12,100 Inventory 12,200...
cash flows from operating activities - indirect method the net income reported Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $47,810 $43,510 34,280 32,150 48,950 Accounts receivable (net)...
Required information E12-3 Understanding the Computation of Cash Flows from Operating Activities (Indirect Method) (LO 12. The following information applies to the questions displayed below. Suppose your company sells services for $425 cash this month. Your company also pays $250 in salaries and wages which includes $115 that was payable at the end of the previous month and $135 for salaries and wages of this month E12-3 Part 2, 3 and 4 2. Calculate the amount that should be reported...
Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the income statement for the current year was $146,300. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,760 $52,220 Accounts receivable (net) 40,700 38,590 Merchandise inventory 55,570 58,750 6,240 4,960 Prepaid expenses Accounts payable (merchandise...
Exercise 12-3 Indirect: Reporting and interpreting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $ 85,000 Expenses Salaries expense 69,000 Utilities expense Depreciation expense 31,200 Other expenses 7,600 Net loss $(55, 800) Selected Year-End Balance Sheet Data Accounts receivable decrease $29,000 Purchased a machine for cash 21,000 Salaries payable increase 26,000 Other accrued liabilities decrease 14,000 Required: 1. Prepare the operating activities section of the statement of...
Cash Flows from Operating Activities Indirect Method The net income reported on the income statement for the current year was $144,200. Depreciation recorded on store equipment for the year amounted to $23,800. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $58,830 $53,540 Accounts receivable (net) 42,180 39,570 Merchandise Inventory 57,590 60,230 Prepaid expenses 6,470 5,090 Accounts payable (merchandise creditors) 55,120 50,650...
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors)...