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Brief Exercise 23-4 Waterway Corporation had the following...
explain the answer CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following...
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CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net income $182,000 132,000 50,000 48,000 $2.000 The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $15,000. Prepare the cash flows from operating activities section of Sarasota's 2017 statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with...
Skysong Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit...
Skysong Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net Income $210,000 119,000 91,000 47.000 $44,000 The following accounts increased during 2020: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $12,000. Prepare the cash flows from operating activities section of Skysong's 2020 statement of cash flows using the direct method. Skysong Corporation Statement of Cash Flows-Direct Method (Partial)
Waterway Company's income statement for the year ended December 31, 2017, contained the following condensed information...
Waterway Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue $839,000 $624,000 Operating expenses (excluding depreciation) Depreciation expense 60,000 Loss on sale of equipment 26,000 710,000 Income before income taxes 129,000 Income tax expense 39,000 $90,000 Net income Waterway's balance sheet contained the following comparative data at December 31 2017 2016 $39,000 $53,000 Accounts receivable Accounts payable 40,000 32,000 Income taxes payable 4,200 8,300 (Accounts payable pertains to operating expenses.) Prepare the...
please give the correct answer and explian it Assignment Gradebook Downloadable eTextbook ment CALCULATOR FULL SCREEN...
please give the correct answer and explian it
Assignment Gradebook Downloadable eTextbook ment CALCULATOR FULL SCREEN PRINTER VE Brief Exercise 23-12 In 2017, Windsor Inc. issued 900 shares of $10 par value common stock for land worth $46,000. (a) Prepare Windsor's journal entry to record the transaction. (Credit account titles are automatically indented when amount is entered. Do not inde entry is required, select "No entry for the account titles and enter o for the amounts.) Account Titles and Explanation...
Shamrock Corporation had the following 2017 income statement. Revenues $102,000 Expenses 65,000 $37,000 In 2017, Shamrock...
Shamrock Corporation had the following 2017 income
statement.
Revenues
$102,000
Expenses
65,000
$37,000
In 2017, Shamrock had the following activity in selected
accounts.
Accounts Receivable
1/1/17
18,000
Revenues
102,000
12/31/17
26,900
Write-offs
1,100
Collections
92,000
Allowance for Doubtful Accounts
Write-offs
1,100
1/1/17
1,300
Bad debt expense
1,700
12/31/17
1,900
(a) Prepare Shamrock’s cash flows from operating
activities section of the statement of cash flows using the direct
method.
(b) Prepare Shamrock’s cash flows from operating
activities section of the statement...
Exercise 23-4 The income statement of Crane Company is shown below CRANE COMPANY INCOME STATEMENT FOR...
Exercise 23-4 The income statement of Crane Company is shown below CRANE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $6,930,000 Cost of goods sold Beginning inventory $1,900,000 4,350,000 Purchases Goods available for sale 6,250,000 1,610,000 Ending inventory Cost of goods sold 4,640,000 2,290,000 Gross profit Operating expenses Selling expenses 460,000 700,000 Administrative expenses 1,160,000 $1,130,000 Net income Additional information: 1. Accounts receivable decreased $360,000 during the year. 2. Prepaid expenses increased $150,000 during the year....
Sunland Corporation had the following activities in 2017. Concord Company’s income statement for the year ended...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
Noah Corporation determines operating cash flows by the indirect method. (Click the icon to view the...
Noah Corporation determines operating cash flows by the indirect method. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Noah's net cash provided by operating activities during 2017 was O A. $53,500 OB. $66,000 O C. $59,000 OD. $3,000 i Income statement Noah Corporation Income Statement for Year Ended December 31, 2017 Sales revenue ............... $ 195,000 10,000 $ 205,000 Gain on sale of equipment...... Cost of goods sold ........... Depreciation ............... 119,000...
Exercise 21-1 (Part Level Submission) On January 1, 2017, Waterway Corporation signed a 5-year noncancelable lease...
Exercise 21-1 (Part Level Submission) On January 1, 2017, Waterway Corporation signed a 5-year noncancelable lease for a machine. The terms of the lease called for Waterway to make annual payments of $7,909 at the beginning of each year, starting January , 2017. The machine has an estimated useful life of 6 years and a $4,500 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Waterway uses the straight-line method of depreciation...
Problem 23-9 Your answer is partially correct. Try again Wildhorse Corporation has contracted with you to prepare a sta...
Problem 23-9 Your answer is partially correct. Try again Wildhorse Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information December 31 2017 2016 Cash $38,400 $12,800 Accounts receivable 12,300 10,000 12,100 Inventory 10,000 3,000 Equity investments 0 Buildings 29,600 0 39,700 20,100 Equipment 5,000 Copyrights 5,200 107,500 $90,700 Totals Allowance for doubtful accounts $2,900 $4,400 Accumulated depreciation-equipment 2,100 4,500 Accumulated depreciation-buildings 0 6,000 Accounts payable 5,000 4,000 Dividends payable 0...
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CALCULATOR FULL SOREN PRINTER VERSION Brief Exercise 23-5 Sarasota Corporation had the following 2017 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net income $182,000 132,000 50,000 48,000 $2.000 The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $15,000. Prepare the cash flows from operating activities section of Sarasota's 2017 statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with...
Skysong Corporation had the following 2020 income statement. Sales revenue Cost of goods sold Gross profit Operating expenses (includes depreciation of $22,000) Net Income $210,000 119,000 91,000 47.000 $44,000 The following accounts increased during 2020: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $12,000. Prepare the cash flows from operating activities section of Skysong's 2020 statement of cash flows using the direct method. Skysong Corporation Statement of Cash Flows-Direct Method (Partial)
Waterway Company's income statement for the year ended December 31, 2017, contained the following condensed information. Service revenue $839,000 $624,000 Operating expenses (excluding depreciation) Depreciation expense 60,000 Loss on sale of equipment 26,000 710,000 Income before income taxes 129,000 Income tax expense 39,000 $90,000 Net income Waterway's balance sheet contained the following comparative data at December 31 2017 2016 $39,000 $53,000 Accounts receivable Accounts payable 40,000 32,000 Income taxes payable 4,200 8,300 (Accounts payable pertains to operating expenses.) Prepare the...
please give the correct answer and explian it
Assignment Gradebook Downloadable eTextbook ment CALCULATOR FULL SCREEN PRINTER VE Brief Exercise 23-12 In 2017, Windsor Inc. issued 900 shares of $10 par value common stock for land worth $46,000. (a) Prepare Windsor's journal entry to record the transaction. (Credit account titles are automatically indented when amount is entered. Do not inde entry is required, select "No entry for the account titles and enter o for the amounts.) Account Titles and Explanation...
Shamrock Corporation had the following 2017 income
statement.
Revenues
$102,000
Expenses
65,000
$37,000
In 2017, Shamrock had the following activity in selected
accounts.
Accounts Receivable
1/1/17
18,000
Revenues
102,000
12/31/17
26,900
Write-offs
1,100
Collections
92,000
Allowance for Doubtful Accounts
Write-offs
1,100
1/1/17
1,300
Bad debt expense
1,700
12/31/17
1,900
(a) Prepare Shamrock’s cash flows from operating
activities section of the statement of cash flows using the direct
method.
(b) Prepare Shamrock’s cash flows from operating
activities section of the statement...
Exercise 23-4 The income statement of Crane Company is shown below CRANE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017 Sales revenue $6,930,000 Cost of goods sold Beginning inventory $1,900,000 4,350,000 Purchases Goods available for sale 6,250,000 1,610,000 Ending inventory Cost of goods sold 4,640,000 2,290,000 Gross profit Operating expenses Selling expenses 460,000 700,000 Administrative expenses 1,160,000 $1,130,000 Net income Additional information: 1. Accounts receivable decreased $360,000 during the year. 2. Prepaid expenses increased $150,000 during the year....
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
Noah Corporation determines operating cash flows by the indirect method. (Click the icon to view the income statement.) (Click the icon to view the balance sheet.) Noah's net cash provided by operating activities during 2017 was O A. $53,500 OB. $66,000 O C. $59,000 OD. $3,000 i Income statement Noah Corporation Income Statement for Year Ended December 31, 2017 Sales revenue ............... $ 195,000 10,000 $ 205,000 Gain on sale of equipment...... Cost of goods sold ........... Depreciation ............... 119,000...
Exercise 21-1 (Part Level Submission) On January 1, 2017, Waterway Corporation signed a 5-year noncancelable lease for a machine. The terms of the lease called for Waterway to make annual payments of $7,909 at the beginning of each year, starting January , 2017. The machine has an estimated useful life of 6 years and a $4,500 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Waterway uses the straight-line method of depreciation...
Problem 23-9 Your answer is partially correct. Try again Wildhorse Corporation has contracted with you to prepare a statement of cash flows. The controller has provided the following information December 31 2017 2016 Cash $38,400 $12,800 Accounts receivable 12,300 10,000 12,100 Inventory 10,000 3,000 Equity investments 0 Buildings 29,600 0 39,700 20,100 Equipment 5,000 Copyrights 5,200 107,500 $90,700 Totals Allowance for doubtful accounts $2,900 $4,400 Accumulated depreciation-equipment 2,100 4,500 Accumulated depreciation-buildings 0 6,000 Accounts payable 5,000 4,000 Dividends payable 0...
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