Homework Answers
| Cash flow Statement | |
| Cash flows from operating activities: | |
| Net Income | 129466 |
| Adjustments | |
| Add: Depreciation (Non-cash expense) | 14059 |
| Add: Loss on disposal of equipment (Investing activity) | 9534 |
| Less: gain on Sale of building (investing activity) | -19192 |
| Changes in Current assets and liabilities | |
| Increase in accounts receivables | -9185 |
| Decrease in accounts payables | -3466 |
| Net cash flow from operating activities | 121216 |
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Kennedy, Inc. reported the following data: L Net income Depreciation expense Loss on disposal of equipment...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain...
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building $118,000 15,000 (10,000) 20,000 Increase in accounts receivable Decrease in accounts payable 7,000 (2,000) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Dorman Company reported the following data: Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in account payable $225.000 25,000 20,500 14,000 3,600...
Staley Inc. reported the following data: Net income $250,800 Depreciation expense 74,900 Loss on disposal of...
Staley Inc. reported the following data: Net income $250,800 Depreciation expense 74,900 Loss on disposal of equipment 20,700 Increase in accounts receivable 11,000 Increase in accounts payable 10,300 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net...
Staley Inc. reported the following data: Net income $321,800 Depreciation expense 50,400 L...
Staley Inc. reported the following data: Net income $321,800 Depreciation expense 50,400 Loss on disposal of equipment 21,400 Increase in accounts receivable 14,800 Increase in accounts payable 12,600 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile net...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts payable $225,000 25,000 20,500 14,000 3,600 Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Dorman Company Statement of Cash Flows Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating...
Staley Inc. reported the following data: Net income $402,000 Depreciation expense 46,830 Loss on disposal of...
Staley Inc. reported the following data: Net income $402,000 Depreciation expense 46,830 Loss on disposal of equipment 37,290 Increase in accounts receivable 26,780 Increase in accounts payable 6,820 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $408,300 Depreciation...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $408,300 Depreciation expense 62,300 Loss on disposal of equipment 20,100 Increase in accounts receivable 28,700 Increase in accounts payable 11,800 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $273,200 Depreciation...
Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $273,200 Depreciation expense 51,900 Loss on disposal of equipment 31,500 Increase in accounts receivable 11,200 Increase in accounts payable 11,400 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from...
The income statement disclosed the following items for the year: depreciation expense $55500 gain on disposal...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Determining Cash Flows from (Used for) Operating Activities Yeoman Inc. reported the following data: Net income...
Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$389,200
Depreciation expense
62,600
Loss on disposal of equipment
28,400
Increase in accounts receivable
25,900
Increase in accounts payable
11,900
Prepare the Cash Flows from (used for) Operating Activities
section of the statement of cash flows, using the indirect method.
Use the minus sign to indicate cash outflows, cash payments,
decreases in cash, or any negative adjustments.
Yeoman Inc. Statement of Cash Flows (partial)...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
Kennedy, Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Gain on sale of building $118,000 15,000 (10,000) 20,000 Increase in accounts receivable Decrease in accounts payable 7,000 (2,000) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Dorman Company reported the following data: Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in account payable $225.000 25,000 20,500 14,000 3,600...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts payable $225,000 25,000 20,500 14,000 3,600 Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Dorman Company Statement of Cash Flows Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$389,200
Depreciation expense
62,600
Loss on disposal of equipment
28,400
Increase in accounts receivable
25,900
Increase in accounts payable
11,900
Prepare the Cash Flows from (used for) Operating Activities
section of the statement of cash flows, using the indirect method.
Use the minus sign to indicate cash outflows, cash payments,
decreases in cash, or any negative adjustments.
Yeoman Inc. Statement of Cash Flows (partial)...
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