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Homework Answers
Classification
| a | Increase in royalty receivable | Decrease |
| b | Increase in account payable | Increase |
| c | Decrease in prepaid taxes | Increase |
| d | Increase in other current liabilities | Increase |
| e | Increase in property, plant and equipment | Not applicable |
| f | Decrease in unearned revenue | Decrease |
| g | Decrease in other current assets | Increase |
| h | Increase in inventories | Decrease |
| i | Decrease in account receivable | Increase |
| j | Increase in Customer deposit | Decrease |
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Wiley PLUS Problem 5-16 Reflective...
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the...
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the previous year: For each of the changes listed below indicate whether the impact to the reconciliation of operating cash flows using the indirect method would be an increase or decrease on cash flows, or not applicable. Increase in royalty receivables a. b. Increase in accounts payable c. Decrease in prepaid taxes d. Increase in other current liabilities e. Increase in property, plant and equipment...
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the...
Reflective Therapy Inc. has the following changes to its
comparative statement of financial position from the previous
year:
For each of the changes listed below indicate whether the impact to
the reconciliation of operating cash flows using the indirect
method would be an increase or decrease on cash flows, or not
applicable.
a.
Increase in royalty
receivables
IncreaseDecreaseNot Applicable
b.
Increase in accounts
payable
IncreaseDecreaseNot Applicable
c.
Decrease in prepaid
taxes
IncreaseDecreaseNot Applicable
d.
Increase in other current
liabilities
IncreaseDecreaseNot...
attempt to answer.. help me get it right Reflective Therapy Inc. has the following changes to...
attempt to answer.. help me get it right
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the previous year: For each of the changes listed below indicate whether the impact to the reconciliation of operating cash flows using the indirect method would be an increase or decrease on cash flows, or not applicable. a. Increase in royalty receivables Not Applicable b. Increase in accounts payable Increase c. Decrease in prepaid taxes Decret d....
The comparative balance sheets for Windsor, Inc. show these changes in noncash current asset accounts: accounts...
The comparative balance sheets for Windsor, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $80,800, prepaid expenses increased $30,200, and inventories increased $36,500 Compute net cash provided by operating activities using the indirect method, assuming that net income is $170,100 (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Windsor, Inc. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income 170100 Adjustments to reconcile...
Wiley PLUS Problem 5-10 a (Indirect Method) The income statement of Tamache Corporation is shown below:...
Wiley PLUS Problem 5-10 a (Indirect Method) The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31, 2020 Sales revenue $7,872,000 Cost of goods sold 4,800,000 Gross profit 3,072,000 Operating expenses $1,603,200 Depreciation expense 76,800 1.690.000 Profit before income tax $1,392,000 Income tax expense 487,200 Net income $904,800 Additional information: 1. Accounts receivable decreased $288,000 during the year. 2. Prepaid expenses increased $192,000 during the year. 3. Inventory decreased $384,000 during the...
I have no idea what I am missing. Thank you for your help in advance! The...
I have no idea what I am missing. Thank you for your help in
advance!
The following Income statement and Information about changes in noncash current assets and current liabilities are reported. $1,828,eee 991, eee 837,000 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 Gain on sale of equipment Net income 361,660 475,340 6,200...
Instructions I Amount Descriptions Statement of Lash Flows-Uperating Activities Final Question Instructions Selected data derived from...
Instructions I Amount Descriptions Statement of Lash Flows-Uperating Activities Final Question Instructions Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data (in thousands) Net income $49,311.00 Gain on disposal of property 1,188.00 Depreciation expense 11,580.00 Other items involving noncash expense 1,383.00 Balance sheet data (in thousands): Increase in accounts receivable 1,746.00 Decrease in inventory 990.00 Increase in prepaid expenses 605.00 10 Decrease in accounts payable...
Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the...
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...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 34,500 $...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
Bock Show Me How Calculator Determining Net Income from Net Cash Flow from Operating Activities Curwen...
Bock Show Me How Calculator Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for the year ended December 31. The following information was reported in the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $7,700 Decrease in inventories 19,140 Depreciation 29,480 Gain on sale of investments 13,200 Increase...
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the previous year: For each of the changes listed below indicate whether the impact to the reconciliation of operating cash flows using the indirect method would be an increase or decrease on cash flows, or not applicable. Increase in royalty receivables a. b. Increase in accounts payable c. Decrease in prepaid taxes d. Increase in other current liabilities e. Increase in property, plant and equipment...
Reflective Therapy Inc. has the following changes to its
comparative statement of financial position from the previous
year:
For each of the changes listed below indicate whether the impact to
the reconciliation of operating cash flows using the indirect
method would be an increase or decrease on cash flows, or not
applicable.
a.
Increase in royalty
receivables
IncreaseDecreaseNot Applicable
b.
Increase in accounts
payable
IncreaseDecreaseNot Applicable
c.
Decrease in prepaid
taxes
IncreaseDecreaseNot Applicable
d.
Increase in other current
liabilities
IncreaseDecreaseNot...
attempt to answer.. help me get it right
Reflective Therapy Inc. has the following changes to its comparative statement of financial position from the previous year: For each of the changes listed below indicate whether the impact to the reconciliation of operating cash flows using the indirect method would be an increase or decrease on cash flows, or not applicable. a. Increase in royalty receivables Not Applicable b. Increase in accounts payable Increase c. Decrease in prepaid taxes Decret d....
The comparative balance sheets for Windsor, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $80,800, prepaid expenses increased $30,200, and inventories increased $36,500 Compute net cash provided by operating activities using the indirect method, assuming that net income is $170,100 (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Windsor, Inc. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income 170100 Adjustments to reconcile...
Wiley PLUS Problem 5-10 a (Indirect Method) The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31, 2020 Sales revenue $7,872,000 Cost of goods sold 4,800,000 Gross profit 3,072,000 Operating expenses $1,603,200 Depreciation expense 76,800 1.690.000 Profit before income tax $1,392,000 Income tax expense 487,200 Net income $904,800 Additional information: 1. Accounts receivable decreased $288,000 during the year. 2. Prepaid expenses increased $192,000 during the year. 3. Inventory decreased $384,000 during the...
I have no idea what I am missing. Thank you for your help in
advance!
The following Income statement and Information about changes in noncash current assets and current liabilities are reported. $1,828,eee 991, eee 837,000 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 Gain on sale of equipment Net income 361,660 475,340 6,200...
Instructions I Amount Descriptions Statement of Lash Flows-Uperating Activities Final Question Instructions Selected data derived from the income statement and balance sheet of National Beverage Co. for a recent year are as follows: Income statement data (in thousands) Net income $49,311.00 Gain on disposal of property 1,188.00 Depreciation expense 11,580.00 Other items involving noncash expense 1,383.00 Balance sheet data (in thousands): Increase in accounts receivable 1,746.00 Decrease in inventory 990.00 Increase in prepaid expenses 605.00 10 Decrease in accounts payable...
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...
MONTGOMERY INC.
Comparative Balance Sheets
December 31
Current Year
Prior Year
Assets
Cash
$
34,500
$
34,900
Accounts receivable, net
10,000
12,400
Inventory
89,600
71,700
Total current assets
134,100
119,000
Equipment
49,600
42,400
Accum. depreciation—Equipment
(22,400
)
(15,600
)
Total assets
$
161,300
$
145,800
Liabilities and Equity
Accounts payable
$
23,800
$
25,900
Salaries payable
400
500
Total current liabilities
24,200
26,400
Equity
Common stock, no par value
117,100
108,500
Retained earnings
20,000
10,900
Total liabilities and equity
$...
Bock Show Me How Calculator Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for the year ended December 31. The following information was reported in the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $7,700 Decrease in inventories 19,140 Depreciation 29,480 Gain on sale of investments 13,200 Increase...
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