Problem 2-2 Preparing Statement of Cash Flows Given the following information, prepare a statement of cash...
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Problem 2-2 Preparing Statement of Cash Flows |
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Given the following information, prepare a statement of cash flows. |
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Dividends |
15 |
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Increase in common stock |
22 |
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Decrease in accounts receivable |
24 |
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Increase in inventories |
35 |
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Operating income |
80 |
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Increase in accounts payable |
25 |
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Interest expense |
25 |
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Depreciation expense |
12 |
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Increase in long term debt |
48 |
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Increase in fixed assets |
33 |
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Income taxes |
17 |
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Beginning cash balance |
20 |
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Assume all amounts are in 000's SAR. |
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Homework Answers
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Problem 2-2 Preparing Statement of Cash
Flows
Given the following information, prepare a statement of cash...
3-13. (Working with a statement of cash flows) Prepare a statement of cash flows from the...
3-13. (Working with a statement of cash flows) Prepare a statement of cash flows from the following scrambled list of items. Increase in inventories Operating income Dividends Increase in accounts payable Interest expense Increase in common stock (par) Depreciation expense Increase in accounts receivable Increase in long-term debt Increase in short-term notes payable Increase in gross fixed assets Increase in paid in capital Income taxes Beginning cash $ 7,000 219,000 29,000 43,000 45,000 5,000 17,000 69,000 53,000 15,000 54.000 20,000...
3) Prepare a statement of cash flows using the following information. Increase in accounts receivable: $600...
3) Prepare a statement of cash flows using the following information. Increase in accounts receivable: $600 Increase in inventories: $160 Increase in long term debt: $160 Beginning cash: $6,000 Increase in accounts payable: $120 Increase in other current assets: $300 Dividends: $80 Increase in common stock: $20 Increase in gross fixed assets: $100 Depreciation expense: 3,000 Net income: $1,000 4) When will a firm’s ROE and ROA be equal? 5) What are the limitations of financial ratios?
Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018...
Preparing a Statement of Cash Flows Erie Company reported the following comparative balance sheets: 2019 2018 Assets: Cash $33,200 $12,750 Accounts receivable 53,000 44,800 Inventory 29,500 27,500 Prepaid rent 2,200 6,200 Investments (long-term) 17,600 31,800 Property, plant, and equipment 162,000 149,450 Accumulated depreciation (61,600) (56,200) Total assets $235,900 $216,300 Liabilities and Equity: Accounts payable $16,900 $19,500 Interest payable 3,500 4,800 Wages payable 9,600 7,100 Income taxes payable 5,500 3,600 Notes payable 30,400 53,000 Common stock 100,000 68,500 Retained earnings 70,000...
Use the following information of VPI Co. to prepare a statement of cash flows for the...
Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,600 Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $42, 400 7,400...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additio...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additional information are reported. IKIBAN Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities Equity Common stock,...
working with a st term tofcash flows Given the information ite pop up window, prepare a...
working with a st term tofcash flows Given the information ite pop up window, prepare a tat ert of cash flows Complete the operating adivities part of the statement of casho (Round to the nearedo Data Table Statement of Cash Flows Cash Flows from Operating Activities $22 Dividends Increase in common stock Increase in accounts receivable Increase in inventories Operating income Increase in accounts payable Interest expense Depreciation expense Increase in bank debt Increase in accrued expenses Increase in gross...
In preparing a company's statement of cash flows using the indirect method, the following information is...
In preparing a company's statement of cash flows using the indirect method, the following information is available: Net income$72,000Accounts payable increased by38,000Accounts receivable decreased by65,000Inventories decreased by25,000Cash dividends paid34,000Depreciation expense60,000Net cash provided by operating activities was: Multiple Choice $260,000 $111,000
(Working with a statement of cash flows) Given the information in the popup window, prepare a...
(Working with a statement of cash flows) Given the information in the popup window, prepare a statement of cash flows. Complete operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Adjustments i Data Table $25 eceivable Increase inventories 20. Net cash provided by operating activities Operating income Interest expense 75 Complete the investing...
Using the information presented in Problem 13.4A, prepare a partial statement of cash flows for the...
Using the information presented in Problem 13.4A, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities by the indirect method. Explain why the decline in accounts receivable over the year was added to income in computing the cash flows from operating activities. sh Additional Information 1. Dividend revenue is recognized on the cash basis. All other income statement amounts recognized on the accrual basis. 2. Operating expenses include...
Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for...
Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 436 Accounts receivable 1,280 Accumulated depreciation 6,746 Cash & equivalents 224 Common stock 1,184 Cost of goods sold 1,500 Depreciation expense 7 Common stock dividends paid 7 Interest expense 140 Inventory...
3-13. (Working with a statement of cash flows) Prepare a statement of cash flows from the following scrambled list of items. Increase in inventories Operating income Dividends Increase in accounts payable Interest expense Increase in common stock (par) Depreciation expense Increase in accounts receivable Increase in long-term debt Increase in short-term notes payable Increase in gross fixed assets Increase in paid in capital Income taxes Beginning cash $ 7,000 219,000 29,000 43,000 45,000 5,000 17,000 69,000 53,000 15,000 54.000 20,000...
Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Gain on sale of machinery Cash received from sale of machinery Increase in accounts payable Net income Decrease in accounts receivable $ 2,600 Cash balance at prior year-end Increase in inventory Depreciation expense Cash received from issuing stock Cash paid for dividends $42, 400 7,400...
Exercise 12-11 Indirect: Preparing statement of cash flows LO P1, P2, P3, A1 [The following information applies to the questions displayed belowj The following financial statements and additional information are reported. IKIBAN Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total 1iabilities Equity Common stock,...
working with a st term tofcash flows Given the information ite pop up window, prepare a tat ert of cash flows Complete the operating adivities part of the statement of casho (Round to the nearedo Data Table Statement of Cash Flows Cash Flows from Operating Activities $22 Dividends Increase in common stock Increase in accounts receivable Increase in inventories Operating income Increase in accounts payable Interest expense Depreciation expense Increase in bank debt Increase in accrued expenses Increase in gross...
(Working with a statement of cash flows) Given the information in the popup window, prepare a statement of cash flows. Complete operating activities part of the statement of cash flows: (Round to the nearest dollar. NOTE: Input cash inflows as positive values and cash outflows as negative values.) Statement of Cash Flows Cash Flows from Operating Activities Adjustments i Data Table $25 eceivable Increase inventories 20. Net cash provided by operating activities Operating income Interest expense 75 Complete the investing...
Using the information presented in Problem 13.4A, prepare a partial statement of cash flows for the current year, showing the computation of net cash flows from operating activities by the indirect method. Explain why the decline in accounts receivable over the year was added to income in computing the cash flows from operating activities. sh Additional Information 1. Dividend revenue is recognized on the cash basis. All other income statement amounts recognized on the accrual basis. 2. Operating expenses include...
Use the information below to prepare a statement of cash flows for Windswept Woodworks, Inc. for year 2. Net income is given. (Use a minus sign to indicate negative values. Round each entry to 2 decimal places.) Windswept Woodworks, Inc. Input Data (millions of dollars) Year 2 Accounts payable 436 Accounts receivable 1,280 Accumulated depreciation 6,746 Cash & equivalents 224 Common stock 1,184 Cost of goods sold 1,500 Depreciation expense 7 Common stock dividends paid 7 Interest expense 140 Inventory...
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