Homework Answers
Answer- Free cash flow= -$4900.
Explanation-Free cash flow = Net cash provided by operating activities- Capital expenditure-Cash dividends paid
= $119900-$95400-$29400
= -$4900
Answer- Selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be= $301000.
Explanation- Selling and administrative expenses adjusted to a cash basis under the direct method = (Selling and administrative expenses-Depreciation expenses)+Increase in prepaid expenses-Decrease in accrued liabilities
= ($296000-$61000)+$36000+$30000
= $301000
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2.
Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000;...
Clayborn Corporation's net cash provided by operating activities was $115,400; its net income was $105,000; its...
Clayborn Corporation's net cash provided by operating activities was $115,400; its net income was $105,000; its income taxes were $47,300; its capital expenditures were $98,100; and its cash dividends were $30,000. Required: Determine the company's free cash flow. (Negative amounts should be indicated by a minus sign.)
Frankin Corporation's net cash provided by operating activities was $155; its capital expenditures were $74; and...
Frankin Corporation's net cash provided by operating activities was $155; its capital expenditures were $74; and its cash dividends were $33. The company's free cash flow was: Multiple Choice $81 O O $122 $48 O O $262
Sovet Frankin Corporation's net cash provided by operating activities was $165. its capital expenditures were $77,...
Sovet Frankin Corporation's net cash provided by operating activities was $165. its capital expenditures were $77, and its cash dividends were $35. The company's free cash flow was Multiple Choice $130 O $53 $ 88 O $277
Frankin Corporation's net cash provided by operating activities was $225; its capital expenditures were $90; and its ca...
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,...
Managerial Accounting: 1. Using the indirect method, compute the net cash provided by/used in operating activities...
Managerial Accounting:
1. Using the indirect method, compute the net cash provided
by/used in operating activities for Year 2.
2. Prepare a statement of cash flows for Year 2
3. Compute the free cash flow for Year 2
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income $ 706,000 99,000 607,000 217,000 390,000...
Cridberg Corporation's selling and administrative expenses for last year totaled $282,000. During the year the company's...
Cridberg Corporation's selling and administrative expenses for last year totaled $282,000. During the year the company's prepaid expense account balance increased by $29,000 and accrued liabilities decreased by $23,000. Depreciation for the year was $47,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be: Multiple Choice $277,000 $381,000 $183,000 $287,000
1. Use the indirect method to determine the net cash provided by operating activities for the...
1. Use the indirect method to determine the net cash provided by
operating activities for the year and prepare a statement of cash
flows for the year.
The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders' Equity Accounts Accounts payable Asset and Contra-Asset Accounts $ 35 D $ 39 I $ 88 D $ 34 I $ 36 D $ 620 I $ 127 I Cash and cash equivalents S107 I $ 39...
Megan Corporation's net income last year was $102,000. Changes in the company's balance sheet accounts for...
Megan Corporation's net income last year was $102,000. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Cash and cash equivalents $ (6,200 ) Accounts receivable $ (18,000 ) Inventory $ 5,000 Prepaid expenses $ (9,800 ) Long-term investments $ 84,000 Property, plant and equipment $ 63,000 Accumulated depreciation $ 66,000 Liability and Equity Accounts: Accounts payable $ 0 Accrued liabilities $ 17,440 Income taxes payable $ (12,240 ) Bonds payable...
12. Bumpass Corporation's contribution margin ratio is 77% and its fixed monthly expenses are $ 46,000....
12. Bumpass Corporation's contribution margin ratio is 77% and its fixed monthly expenses are $ 46,000. Assume that the company's sales for May are expected to be $ 105,000. Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change. (Omit the "$" sign in your response.) Net operating income $
1. Use the indirect method and compute the net cash provided by operating activities for the...
1.
Use
the indirect method and compute the net cash provided by operating
activities for the year 2014.
2. prepare a statement of cash flows for the year
2014.
3. compute the the free cash flow for the year 2014.
4. explain why cas declined so sharply during the year
2014.
Foxbore Company Income Statement For the Period January 1, 2014 through December 31, 2014 Sales Cost of Goods Sold Gross Margin Selling and Administrative Expenses Net Operating Income Gain...
Frankin Corporation's net cash provided by operating activities was $155; its capital expenditures were $74; and its cash dividends were $33. The company's free cash flow was: Multiple Choice $81 O O $122 $48 O O $262
Sovet Frankin Corporation's net cash provided by operating activities was $165. its capital expenditures were $77, and its cash dividends were $35. The company's free cash flow was Multiple Choice $130 O $53 $ 88 O $277
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,...
Managerial Accounting:
1. Using the indirect method, compute the net cash provided
by/used in operating activities for Year 2.
2. Prepare a statement of cash flows for Year 2
3. Compute the free cash flow for Year 2
Joyner Company's income statement for Year 2 follows: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of equipment Income before taxes Income taxes Net income $ 706,000 99,000 607,000 217,000 390,000...
1. Use the indirect method to determine the net cash provided by
operating activities for the year and prepare a statement of cash
flows for the year.
The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders' Equity Accounts Accounts payable Asset and Contra-Asset Accounts $ 35 D $ 39 I $ 88 D $ 34 I $ 36 D $ 620 I $ 127 I Cash and cash equivalents S107 I $ 39...
1.
Use
the indirect method and compute the net cash provided by operating
activities for the year 2014.
2. prepare a statement of cash flows for the year
2014.
3. compute the the free cash flow for the year 2014.
4. explain why cas declined so sharply during the year
2014.
Foxbore Company Income Statement For the Period January 1, 2014 through December 31, 2014 Sales Cost of Goods Sold Gross Margin Selling and Administrative Expenses Net Operating Income Gain...
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