Homework Answers
| Statement of Cash Flows—Indirect Method (partial) | ||
| Net income | 66000 | |
| Adjustments to convert net income to a cash basis: | ||
| Depreciation | 60000 | |
| Decrease in accounts receivable | 26000 | |
| Increase in inventory | -84000 | |
| Decrease in prepaid expenses | 2000 | |
| Decrease in accounts payable | -36000 | |
| Decrease in accrued liabilities | -4500 | |
| Increase in income taxes payable | 6000 | |
| -30500 | ||
| Net cash provided by(used in) operating activities | 35500 | |
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For the just completed year, Hanna Company had net income of $66.000. Balances in the company's...
For the just completed year, Hanna Company had net income of $68,500. Balances in the company's...
For the just completed year, Hanna Company had net income of $68,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 57,000 $ 82,000 $168,000 $194,000 $430,000 $355,000 $ 11,000 $14,500 $ 350,000 $380,000 $ 7,500 $ 13,000 $...
For the just completed year, Hanna Company had net income of $80,000. Balances in the company's...
For the just completed year, Hanna Company had net income of $80,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 57,000 $ 81,000 $ 162,000 $190,000 $445.000 $352.000 $ 11,500 $ 13,500 $352,000 $388,000 $ 8,000 $ 12,500...
For the just completed year, Hanna Company had net income of $90,500. Balances in the company's...
For the just completed year, Hanna Company had net income of $90,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning of Year Year Current assets: Cash and cash equivalents Accounts receivable $61,000 $ 84,000 $168,000 $186,000 $442,000 $346,000 12,000 14,000 Inventory Prepaid expenses Current liabilities: Accounts payable $356,000 $384,000 8,500 13,000 33,000 28,000 Accrued liabilities Income taxes payable The Accumulated Depreciation account...
For the just completed year, Hanna Company had net income of $67,500. Balances in the company's...
For the just completed year, Hanna Company had net income of $67,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning of Year Year Current assets: 59,000 $ 83,000 152,000 $ 186,000 436,000 $ 352,000 12,500 14,000 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable 354,000 $ 392,000 $ 9,000 $ 11,500 36,000...
For the just completed year, Hanna Company had net income of $77,500. Balances in the company's...
For the just completed year, Hanna Company had net income of $77,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 55,000 $ 83,000 $168,000 $199,000 $442,000 $367,000 $ 12,000 $ 13,500 $352,000 $390,000 $ 8,500 $ 11,500 $...
For the just completed year, Hanna Company had net income of $35.000. Balances in the company's...
For the just completed year, Hanna Company had net income of $35.000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 30, 0 $ 40,00 $ 125,000 $106,000 $ 213,000 $180.ee $ 6,000 $ 7. ee $ 210. $...
For the just completed year, Hanna Company had net income of $35,000. Balances in the company’s...
For the just completed year, Hanna Company had net income of
$35,000. Balances in the company’s current asset and current
liability accounts at the beginning and end of the year were as
follows:
December 31
End of Year
Beginning of Year
Current assets:
Cash and cash equivalents
$
30,000
$
40,000
Accounts receivable
$
125,000
$
106,000
Inventory
$
213,000
$
180,000
Prepaid expenses
$
6,000
$
7,000
Current liabilities:
Accounts payable
$
210,000
$
195,000
Accrued liabilities
$
4,000...
For the just completed year, Hanna Company had net income of $77,500. Balances in the company’s...
For the just completed year, Hanna Company had net income of $77,500. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year Current assets: Cash and cash equivalents $ 55,000 $ 83,000 Accounts receivable $ 168,000 $ 198,000 Inventory $ 442,000 $ 367,000 Prepaid expenses $ 12,000 $ 13,500 Current liabilities: Accounts payable $ 352,000 $ 390,000 Accrued liabilities $ 8,500...
1. For the just completed year, Hanna Company had net income of $77,500. Balances in the...
1. For the just completed year, Hanna Company had net income of $77,500. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year Current assets: Cash and cash equivalents $ 63,000 $ 82,000 Accounts receivable $ 162,000 $ 182,000 Inventory $ 442,000 $ 352,000 Prepaid expenses $ 11,500 $ 14,000 Current liabilities: Accounts payable $ 364,000 $ 382,000 Accrued liabilities $...
For the just completed year, Hanna Company had net income of $35,000. Balances in the company’s...
For the just completed year, Hanna Company had net income of $35,000. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year Current assets: Cash and cash equivalents $ 30,000 $ 40,000 Accounts receivable $ 125,000 $ 106,000 Inventory $ 213,000 $ 180,000 Prepaid expenses $ 6,000 $ 7,000 Current liabilities: Accounts payable $ 210,000 $ 195,000 Accrued liabilities $ 4,000...
For the just completed year, Hanna Company had net income of $68,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 57,000 $ 82,000 $168,000 $194,000 $430,000 $355,000 $ 11,000 $14,500 $ 350,000 $380,000 $ 7,500 $ 13,000 $...
For the just completed year, Hanna Company had net income of $80,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 57,000 $ 81,000 $ 162,000 $190,000 $445.000 $352.000 $ 11,500 $ 13,500 $352,000 $388,000 $ 8,000 $ 12,500...
For the just completed year, Hanna Company had net income of $90,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning of Year Year Current assets: Cash and cash equivalents Accounts receivable $61,000 $ 84,000 $168,000 $186,000 $442,000 $346,000 12,000 14,000 Inventory Prepaid expenses Current liabilities: Accounts payable $356,000 $384,000 8,500 13,000 33,000 28,000 Accrued liabilities Income taxes payable The Accumulated Depreciation account...
For the just completed year, Hanna Company had net income of $67,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning of Year Year Current assets: 59,000 $ 83,000 152,000 $ 186,000 436,000 $ 352,000 12,500 14,000 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable 354,000 $ 392,000 $ 9,000 $ 11,500 36,000...
For the just completed year, Hanna Company had net income of $77,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 55,000 $ 83,000 $168,000 $199,000 $442,000 $367,000 $ 12,000 $ 13,500 $352,000 $390,000 $ 8,500 $ 11,500 $...
For the just completed year, Hanna Company had net income of $35.000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 30, 0 $ 40,00 $ 125,000 $106,000 $ 213,000 $180.ee $ 6,000 $ 7. ee $ 210. $...
For the just completed year, Hanna Company had net income of
$35,000. Balances in the company’s current asset and current
liability accounts at the beginning and end of the year were as
follows:
December 31
End of Year
Beginning of Year
Current assets:
Cash and cash equivalents
$
30,000
$
40,000
Accounts receivable
$
125,000
$
106,000
Inventory
$
213,000
$
180,000
Prepaid expenses
$
6,000
$
7,000
Current liabilities:
Accounts payable
$
210,000
$
195,000
Accrued liabilities
$
4,000...
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