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110 points Brief Exercise 11-6 Calculate operating activities-Indirect method (1O11-2) Hi-Tech, Inc, reports net income of...
Exercise 11-8A Calculate operating activities-indirect method (LO11-3) Hardware Suppliers reports net income of $155,000. Included in...
Exercise 11-8A Calculate operating activities-indirect method (LO11-3) Hardware Suppliers reports net income of $155,000. Included in net income is a gain on the sale of land of $15,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $25,000, an increase in inventory of $15,000 and a decrease in accounts payable of $45,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and...
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...
Cash Flows from Operating Activities Indirect Method The net income reported on the income statement for...
Cash Flows from Operating Activities Indirect Method The net income reported on the income statement for the current year was $144,200. Depreciation recorded on store equipment for the year amounted to $23,800. 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 $58,830 $53,540 Accounts receivable (net) 42,180 39,570 Merchandise Inventory 57,590 60,230 Prepaid expenses 6,470 5,090 Accounts payable (merchandise creditors) 55,120 50,650...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
cash flows from operating activities - indirect method the net income reported Cash Flows from Operating...
cash flows from operating activities - indirect method the net
income reported
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. 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 $47,810 $43,510 34,280 32,150 48,950 Accounts receivable (net)...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement...
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 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 $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors)...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $286,100. Depreciation recorded on equipment and a building amounted to $85,500 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 $78,680 $81,830 99,770 100,980 196,700 173,970 Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable 10,940 11,540...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $146,000. 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 $59,420 $54,070 Accounts receivable (net) 42,600 39,960 Merchandise inventory 58,170 60,830 Prepaid expenses 6,540 5,140 Accounts payable (merchandise creditors) 55,680 51,150 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,500 $46,870 Accounts receivable (net) 36,930 34,640 Merchandise inventory 50,420 52,730 Prepaid expenses 5,670 4,450 Accounts payable (merchandise creditors) 48,260 44,340 Wages...
Exercise 11-8A Calculate operating activities-indirect method (LO11-3) Hardware Suppliers reports net income of $155,000. Included in net income is a gain on the sale of land of $15,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $25,000, an increase in inventory of $15,000 and a decrease in accounts payable of $45,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and...
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...
Cash Flows from Operating Activities Indirect Method The net income reported on the income statement for the current year was $144,200. Depreciation recorded on store equipment for the year amounted to $23,800. 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 $58,830 $53,540 Accounts receivable (net) 42,180 39,570 Merchandise Inventory 57,590 60,230 Prepaid expenses 6,470 5,090 Accounts payable (merchandise creditors) 55,120 50,650...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
cash flows from operating activities - indirect method the net
income reported
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. 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 $47,810 $43,510 34,280 32,150 48,950 Accounts receivable (net)...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 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 $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors)...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $286,100. Depreciation recorded on equipment and a building amounted to $85,500 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 $78,680 $81,830 99,770 100,980 196,700 173,970 Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable 10,940 11,540...
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