Homework Answers
| Cash flow from Operating activities: | |
| Net Income | $252176 |
| Adjustment of non cash items | |
| Depreciation | 37383 |
| Amortization | 10481 |
| Change in current assets and current liabilities | |
| Decrease in accounts receivable (129589-106564) | 23025 |
| Decrease in inventory (108912-82430) | 26482 |
| Increase in prepaid expense (2458-6857) | (4399) |
| Increase in accounts payable (69041-45467) | 23574 |
| Cash flow from operating activities | $368722 |
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The net income reported on the income statement for the current year was $252,176. Depreciation recorded...
The net income reported on the income statement for the current year was $295,306. Depreciation recorded...
The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Cash $55,258 Accounts Receivable 125,663 Inventories 108,205 Prepaid Expenses 4,229 Accounts Payable (merchandise creditors) 52,884 What is the amount of cash flows from operating activities reported on...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded on fixed assets and amortization of patents for the year were $31,653 and $11,277, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $40,409 Accounts Receivable 123,538 105,661 $54,459 102,434 85,012 7,461 Inventories Prepaid Expenses Accounts Payable (merchandise creditors) 4,777 48,911 63,828 What is the amount of cash...
The net income reported on the income statement for the current year was $253,094. Depreciation recorded...
The net income reported on the income statement for the current year was $253,094. Depreciation recorded on fixed assets and amortization of patents for the year were $36,132 and $8,113, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $55,345 $40,432 Accounts Receivable 121,643 104,804 Inventories 101,904 95,492 Prepaid Expenses 3,490 7,401 Accounts Payable (merchandise creditors) 49,019 69,565 What is the amount of cash...
The net income reported on the income statement for the current year was $270,163. Depreciation recorded...
The net income reported on the income statement for the current year was $270,163. Depreciation recorded on fixed assets and amortization of patents for the year were $36,150 and $9,124, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $42,195 129,824 107,719 Accounts Receivable Inventories Prepaid Expenses Accounts Payable (merchandise creditors) $61,098 106,421 96,979 6,519 63,630 3,550 45,073 What is the amount of cash...
The net income reported on the income statement for the current year was $286,967. Depreciation recorded...
The net income reported on the income statement for the current year was $286,967. Depreciation recorded on fixed assets and amortization of patents for the year were $44,400 and $9,883, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Beginning Cash $36,848 1 $51,932 Accounts Receivable 121,062 100,297 Inventories 100,428 85,746 Prepaid Expenses 4,522 6,290 Accounts Payable (merchandise creditors) 48,202 68,344 What is the amount of cash...
The net income reported on the income statement for the current year was $317,696. Depreciation recorded...
The net income reported on the income statement for the current year was $317,696. Depreciation recorded on fixed assets and amortization of patents for the year were $40,292 and $8,491, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $55,431 $45,273 Accounts Receivable 103,027 Inventories 125,331 104,959 2,309 52,516 Prepaid Expenses Accounts Payable (merchandise creditors) 94,246 6,109 72,543 What is the amount of cash...
The net income reported on the income statement for the current year was $300,400. Depreciation recorded on equipment an...
The net income reported on the income statement for the current year was $300,400. Depreciation recorded on equipment and a building amounted to $89,800 for the year. 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 $81,110 $85,980 Accounts receivable (net) 102,850 106,100 Inventories 202,780 182,790 Prepaid expenses 11,270 12,120 Accounts payable (merchandise creditors) 90,600 95,950 Salaries payable 13,060 11,950 a. Prepare...
The net income reported on the income statement for the current year was $150,800. Depreciation recorded...
The net income reported on the income statement for the current year was $150,800. Depreciation recorded on store equipment for the year amounted to $24,900. 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 $57,610 $53,000 Accounts receivable (net) 41,310 39,170 Merchandise inventory 56,400 59,630 Prepaid expenses 6,340 5,040 Accounts payable (merchandise creditors) 53,980 50,140 Wages payable 29,500 32,750 a. Prepare the...
The net income reported on an income statement for the current year was $63,000. Depreciation recorded...
The net income reported on an income statement for the current year was $63,000. Depreciation recorded on fixed assets for the year was $24,000. Balances of the current asset and current liability accounts at the end and beginning of the year are listed below. Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments....
The net income reported on the income statement for the current year was $334,100. Depreciation recorded...
The net income reported on the income statement for the current year was $334,100. Depreciation recorded on equipment and a building amounted to $101,710 for the year. 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 $90,280 $96,010 Accounts receivable (net) 111,780 118,690 Inventories 223,470 206,830 Prepaid expenses 12,870 14,850 Accounts payable (merchandise creditors) 96,330 103,900 Salaries payable 15,720 13,840 Required: A....
The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Cash $55,258 Accounts Receivable 125,663 Inventories 108,205 Prepaid Expenses 4,229 Accounts Payable (merchandise creditors) 52,884 What is the amount of cash flows from operating activities reported on...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded on fixed assets and amortization of patents for the year were $31,653 and $11,277, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $40,409 Accounts Receivable 123,538 105,661 $54,459 102,434 85,012 7,461 Inventories Prepaid Expenses Accounts Payable (merchandise creditors) 4,777 48,911 63,828 What is the amount of cash...
The net income reported on the income statement for the current year was $253,094. Depreciation recorded on fixed assets and amortization of patents for the year were $36,132 and $8,113, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $55,345 $40,432 Accounts Receivable 121,643 104,804 Inventories 101,904 95,492 Prepaid Expenses 3,490 7,401 Accounts Payable (merchandise creditors) 49,019 69,565 What is the amount of cash...
The net income reported on the income statement for the current year was $270,163. Depreciation recorded on fixed assets and amortization of patents for the year were $36,150 and $9,124, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $42,195 129,824 107,719 Accounts Receivable Inventories Prepaid Expenses Accounts Payable (merchandise creditors) $61,098 106,421 96,979 6,519 63,630 3,550 45,073 What is the amount of cash...
The net income reported on the income statement for the current year was $286,967. Depreciation recorded on fixed assets and amortization of patents for the year were $44,400 and $9,883, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Beginning Cash $36,848 1 $51,932 Accounts Receivable 121,062 100,297 Inventories 100,428 85,746 Prepaid Expenses 4,522 6,290 Accounts Payable (merchandise creditors) 48,202 68,344 What is the amount of cash...
The net income reported on the income statement for the current year was $317,696. Depreciation recorded on fixed assets and amortization of patents for the year were $40,292 and $8,491, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $55,431 $45,273 Accounts Receivable 103,027 Inventories 125,331 104,959 2,309 52,516 Prepaid Expenses Accounts Payable (merchandise creditors) 94,246 6,109 72,543 What is the amount of cash...
The net income reported on an income statement for the current year was $63,000. Depreciation recorded on fixed assets for the year was $24,000. Balances of the current asset and current liability accounts at the end and beginning of the year are listed below. Prepare the Cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments....
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