Homework Answers
1.cash flows of $30000 as an decrease in the investing section.
2. Cash flow of $26000 as an increase in the investing section.
Cash flow of $5000 as an decrease in the operating section.
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Quiz 4 Problem: For each of the items, clearly indicate the implications for the cash flow...
Financial Information and Cash Flows Chapter 1 AS-13L04 Which items appear in the cash flow from...
Financial Information and Cash Flows Chapter 1 AS-13L04 Which items appear in the cash flow from operating activities section of the statement of cash flows using the indirect method? AS-14 LO Which items appear in the cash flow from investing activities section of the statement of cash flows? AS-15 LO Which items appear in the cash flow from financing activities section of the statement of cash flows? AS-16 LO What does a gain on the sale of equipment indicate? AS-17...
Chapter 13 Quiz Version B The following information is available. Calculate the cash flow for operating...
Chapter 13 Quiz Version B The following information is available. Calculate the cash flow for operating woru activities. Net Income 40 Depreciation Expense 5 Decrease in Acct. Rec. 6 Decrease in Acct. Pay. 3 Purchase of Equipment 10 Increase in Supplies 5 In addition the company sold equipment with an original cost of $50 for $30. The accumulated depreciation was $45. The company bought back treasury stock for $10 and issued common stock for $8. Cash 40 10 1. What...
NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase...
NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase Need Help Completing the Cash Flow of Statement Assets Cash A/R Inventory Investments Equipment Accumulated Derp.-Equipment Total Liabilities and Stockholders' Equity 2020 77,700 60,800 126,900 79,500 315,000 (44,500) 615,400 2019 33,400 447,000 92,650 107,000 205,000 (40,000) 845,050 112,660 Current Liabilities Increase Increase Current Liabilities Decrease Decrease Cah flows from operating activities Net Income Add: Decrease in Accounts Receivables Increase in A/P A/P 48,280 18,830...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment Distribute a Stock Dividend [Choose ] Investing + Non-cash investing and financing Financing - Investing - Financing + Operating - Operating + Record Bad Debt Expense Decrease in Merchandise Inventory [Choose Pay off Bonds Payable [Choose) Increase in Accounts Payable [Choose Issue Common Stock [Choose] Sale of long-term investments [Choose] Net Income [Choose)
Goldey-Beacom College Cash Flow Statement problem (10 points) ACC307 Exam #3 The comparative balance sheet of...
Goldey-Beacom College Cash Flow Statement problem (10 points) ACC307 Exam #3 The comparative balance sheet of Skyline Spinner Company, is as follows: Skyline Spinner Company Comparative Balance Sheet December 3, 2019 Assets 2018 41,00045,000 2019 Cash Accounts receivable Inventory Prepaid Expenses Land 47,500 52,00 151,450 142,000 15,780 21,000 100,000 130,000 228,000 155,000 nt Accumulated depreciation- equipment (45,000) (35,000) 200,000 200,000 000) (40,000 Buil Accumulated depreciation- building 679,730 670,000 Liabilities & Stockholders' equity Accounts Bonds Payable Common stock, $1 par Retained...
Exercise D13-11 The following items were gathered from Sunland Industries general ledger: Sale of marketable securities...
Exercise D13-11 The following items were gathered from Sunland Industries general ledger: Sale of marketable securities Depreciation and amortization expense Payment of cash dividends Proceeds from disposal of equipment Loss on disposal of equipment Net income Beginning Cash balance Purchase of equipment Decrease in Accounts Receivable Proceeds from issuing common stock Increase in Inventory Increase in Accounts Payable Ending Cash balance 13,940 170 19,310 21,132 1,238 2,281 63,843 Using the indirect method, construct Sunland Industries statement of cash flows. (Show...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item relates to an operating activity, an investing activity, or a financing activity: a. Cash receipts from customers for services rendered b. Sale of long-term investments for cash c. Acquisition of plant assets for cash d. Payment of income taxes LO1 E13-1A. Chapter 13 Statement of Cash Flows e. f. 8. Bonds payable issued for cash Payment of cash dividends declared in previous year Purchase...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Indirect Method - Cash flow statement Sean Seymour Company Comparative balance sheet - December 31 Assets: &nbs
Indirect Method - Cash flow statement Sean Seymour Company Comparative balance sheet - December 31 Assets: 20x2 20x1 Cash $26,000 $13,000 Accounts receivable 18,000 14,000 Inventories 38,000 35,000 Property, Plant & Equip. 70,000 78,000 Accumulated depreciation ( 30,000) ( 24,000) 122,000 116,000 Liabilities & Stockholders’ Equity: Accounts payable 29,000 33,000 Income taxes payable 15,000 20,000 Bonds payable 20,000 10,000 Common stock 25,000 25,000 Retained earnings 33,000 28,000 122,000 116,000 Sean Seymour Co. Income statement for the year ended 12/31/x2 Sales $240,000 Less: COGS 180,000 Selling 28,000 Admin expenses 6,000 Income taxes 7,000 Interest expense 2,000 223,000 Net Income 17,000 Dividends of $12,000 were declared and paid During the year, equipment was...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
Financial Information and Cash Flows Chapter 1 AS-13L04 Which items appear in the cash flow from operating activities section of the statement of cash flows using the indirect method? AS-14 LO Which items appear in the cash flow from investing activities section of the statement of cash flows? AS-15 LO Which items appear in the cash flow from financing activities section of the statement of cash flows? AS-16 LO What does a gain on the sale of equipment indicate? AS-17...
Chapter 13 Quiz Version B The following information is available. Calculate the cash flow for operating woru activities. Net Income 40 Depreciation Expense 5 Decrease in Acct. Rec. 6 Decrease in Acct. Pay. 3 Purchase of Equipment 10 Increase in Supplies 5 In addition the company sold equipment with an original cost of $50 for $30. The accumulated depreciation was $45. The company bought back treasury stock for $10 and issued common stock for $8. Cash 40 10 1. What...
NI+D+L-G Saffordville Co. Cash Flow Statement (Inderect Method) Current Assets Increase Current Assets Decrease Decrease Increase Need Help Completing the Cash Flow of Statement Assets Cash A/R Inventory Investments Equipment Accumulated Derp.-Equipment Total Liabilities and Stockholders' Equity 2020 77,700 60,800 126,900 79,500 315,000 (44,500) 615,400 2019 33,400 447,000 92,650 107,000 205,000 (40,000) 845,050 112,660 Current Liabilities Increase Increase Current Liabilities Decrease Decrease Cah flows from operating activities Net Income Add: Decrease in Accounts Receivables Increase in A/P A/P 48,280 18,830...
Indicate which section of the Statement of Cash flows the following items would appear: Purchase Equipment Distribute a Stock Dividend [Choose ] Investing + Non-cash investing and financing Financing - Investing - Financing + Operating - Operating + Record Bad Debt Expense Decrease in Merchandise Inventory [Choose Pay off Bonds Payable [Choose) Increase in Accounts Payable [Choose Issue Common Stock [Choose] Sale of long-term investments [Choose] Net Income [Choose)
Goldey-Beacom College Cash Flow Statement problem (10 points) ACC307 Exam #3 The comparative balance sheet of Skyline Spinner Company, is as follows: Skyline Spinner Company Comparative Balance Sheet December 3, 2019 Assets 2018 41,00045,000 2019 Cash Accounts receivable Inventory Prepaid Expenses Land 47,500 52,00 151,450 142,000 15,780 21,000 100,000 130,000 228,000 155,000 nt Accumulated depreciation- equipment (45,000) (35,000) 200,000 200,000 000) (40,000 Buil Accumulated depreciation- building 679,730 670,000 Liabilities & Stockholders' equity Accounts Bonds Payable Common stock, $1 par Retained...
Exercise D13-11 The following items were gathered from Sunland Industries general ledger: Sale of marketable securities Depreciation and amortization expense Payment of cash dividends Proceeds from disposal of equipment Loss on disposal of equipment Net income Beginning Cash balance Purchase of equipment Decrease in Accounts Receivable Proceeds from issuing common stock Increase in Inventory Increase in Accounts Payable Ending Cash balance 13,940 170 19,310 21,132 1,238 2,281 63,843 Using the indirect method, construct Sunland Industries statement of cash flows. (Show...
Classification of Cash Flows For each of the items below, indicate whether the cash flow item relates to an operating activity, an investing activity, or a financing activity: a. Cash receipts from customers for services rendered b. Sale of long-term investments for cash c. Acquisition of plant assets for cash d. Payment of income taxes LO1 E13-1A. Chapter 13 Statement of Cash Flows e. f. 8. Bonds payable issued for cash Payment of cash dividends declared in previous year Purchase...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
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