Homework Answers
Decrease in account payable would generally be because of payment to account payables , so its a cash outflow, that is why it would be deducted from net income.
hence corect answer is "true"
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This Question: 10 pts 3 of 35 (33 complete) This Test: 350 pls poss Under the...
Question Help Compute the net cash flow from operating activities for Claremore Company under the indirect...
Question Help Compute the net cash flow from operating activities for Claremore Company under the indirect reporting format. Claremore Company provided you with the following information for the current year. Accounts Payable relate to Selling, General and Administrative Expenses. EE(Click the icon to view the statement of net income.) EEB (Click the icon to view the changes in balance sheet accounts.) Requirement Compute net cash flow from operating activities under the indirect reporting format. (Use a minus sign or parentheses...
EF16-20 (similar to) Assigned Media Question Help O The accounting records of XYZ Sales, Inc. include...
EF16-20 (similar to) Assigned Media Question Help O The accounting records of XYZ Sales, Inc. include the following accounts: (Click the icon to view the accounts.) Compute XYZ's net cash provided by used for) operating activities during July 2024. Use the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash and to show net cash used for operating activities. If a box is not used in the table leave the box empty,...
Score: 0 of 10 pts 6 of 63 complete HW Score: 50.76%, 33.5 of 66 pts...
Score: 0 of 10 pts 6 of 63 complete HW Score: 50.76%, 33.5 of 66 pts S11-7 (similar to) Assigned Media Question Help Edgardo Corporation accountants have assembled the following data for the year ended June 30, 2018 U (Click the icon to view the date) Prepare Edgardo Corporation's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating activities Begin by completing the cash flows from operating activities. The complete...
Cash paid for interest on a loan is classified as a cash flow from financing activities...
Cash paid for interest on a loan is classified as a cash flow from financing activities in a statement of cash flows. Select one: True False Two different methods of determining and presenting the net cash flows from operating activities are the indirect method and the reconciliation method. Select one: True False The operating activities section of the statement of cash flows shows a reconciliation of net income to the net cash provided by operating activities amount under the direct...
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data...
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable decrease $100, 500 Depreciation expense 49,489 Inventory decrease 43,500 Amortization expense 8,900 Prepaid expenses increase 7,000 Gain on sale of plant 7,600 Accounts payable decrease 9,700 assets Salaries payable increase 2,400 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31 (Amounts to be deducted should be...
41. Depreciation on factory equipment would be reported in the statement of cash flows prepared by...
41. Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirect method in a. the cash flows from investing activities section. b. a separate schedule. c. the cash flows from operating activities section. d. the cash flows from financing activities section. 42. Which of the following should be added to net income in calculating net cash flow from operating activities using the indirect method? a decrease in accounts receivable preferred dividends declared and...
Homework: Financial Chapter 16 Homework Save Score: 0 of 25 pts 4 of 5 (3 complete)...
Homework: Financial Chapter 16 Homework Save Score: 0 of 25 pts 4 of 5 (3 complete) HW Score: 35%, 35 of 100 pts EF16-21 (similar to) Assigned Media Question Help i More Info Х The income statement and additional data of Energy Plus, Inc. follows: E (Click the icon to view the income statement.) (Click the icon to v v Prepare Energy Plus's statement of cash flows for the year ended Septen ancing activities Complete the statement one section at...
pls show work Question 8 Not changed since last attempt Marked out of 5.00 P Flag...
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Question 8 Not changed since last attempt Marked out of 5.00 P Flag question Indirect Method -- Preparing the Operating Activities Section The following data are from the accounting records of Clooney Company. Description Amount Net income accrual basis) $ 100,000 Depreciation expense 19.500 Decrease in salaries payable 3,000 Decrease in trade accounts receivable 4.500 Increase in merchandise inventory 6,250 Amortization of patent 250 Increase in long-term liabilities 25,000 Sale of capital stock for cash 62.500 Accounts...
1. Which of the following would be added to net income using the indirect method? a....
1. Which of the following would be added to net income using the indirect method? a. An increase in prepaid expenses. b. Depreciation expense. c. A decrease in accounts payable. d. An increase in accounts receivable. 2. T/F Using the indirect method, an increase in accounts receivable during a period is deducted from net income in calculating cash provided by operations. 3. T/F A loss on sale of equipment is added to net income in determining cash provided by operations...
Question 1 Gutierrez Company reported net income of $190,400 for 2020. Gutierrez also reported depreciation expense...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
Question Help Compute the net cash flow from operating activities for Claremore Company under the indirect reporting format. Claremore Company provided you with the following information for the current year. Accounts Payable relate to Selling, General and Administrative Expenses. EE(Click the icon to view the statement of net income.) EEB (Click the icon to view the changes in balance sheet accounts.) Requirement Compute net cash flow from operating activities under the indirect reporting format. (Use a minus sign or parentheses...
EF16-20 (similar to) Assigned Media Question Help O The accounting records of XYZ Sales, Inc. include the following accounts: (Click the icon to view the accounts.) Compute XYZ's net cash provided by used for) operating activities during July 2024. Use the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash and to show net cash used for operating activities. If a box is not used in the table leave the box empty,...
Score: 0 of 10 pts 6 of 63 complete HW Score: 50.76%, 33.5 of 66 pts S11-7 (similar to) Assigned Media Question Help Edgardo Corporation accountants have assembled the following data for the year ended June 30, 2018 U (Click the icon to view the date) Prepare Edgardo Corporation's statement of cash flows for the year ended June 30, 2018. The company uses the indirect method for operating activities Begin by completing the cash flows from operating activities. The complete...
Cash paid for interest on a loan is classified as a cash flow from financing activities in a statement of cash flows. Select one: True False Two different methods of determining and presenting the net cash flows from operating activities are the indirect method and the reconciliation method. Select one: True False The operating activities section of the statement of cash flows shows a reconciliation of net income to the net cash provided by operating activities amount under the direct...
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable decrease $100, 500 Depreciation expense 49,489 Inventory decrease 43,500 Amortization expense 8,900 Prepaid expenses increase 7,000 Gain on sale of plant 7,600 Accounts payable decrease 9,700 assets Salaries payable increase 2,400 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31 (Amounts to be deducted should be...
Homework: Financial Chapter 16 Homework Save Score: 0 of 25 pts 4 of 5 (3 complete) HW Score: 35%, 35 of 100 pts EF16-21 (similar to) Assigned Media Question Help i More Info Х The income statement and additional data of Energy Plus, Inc. follows: E (Click the icon to view the income statement.) (Click the icon to v v Prepare Energy Plus's statement of cash flows for the year ended Septen ancing activities Complete the statement one section at...
pls
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Question 8 Not changed since last attempt Marked out of 5.00 P Flag question Indirect Method -- Preparing the Operating Activities Section The following data are from the accounting records of Clooney Company. Description Amount Net income accrual basis) $ 100,000 Depreciation expense 19.500 Decrease in salaries payable 3,000 Decrease in trade accounts receivable 4.500 Increase in merchandise inventory 6,250 Amortization of patent 250 Increase in long-term liabilities 25,000 Sale of capital stock for cash 62.500 Accounts...
Question 1
Gutierrez Company reported net income of $190,400 for 2020.
Gutierrez also reported depreciation expense of $41,900 and a loss
of $4,600 on the disposal of plant assets. The comparative balance
sheet shows a decrease in accounts receivable of $14,400 for the
year, a $16,400 increase in accounts payable, and a $4,100 decrease
in prepaid expenses.
Prepare the operating activities section of the statement of cash
flows for 2020. Use the indirect method. (Show amounts
that decrease cash flow...
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