Comprehension questions Explain the differences between the presentation of cash flows from operating activities under the...
Only Answer Question 1 Please
Preparation of a statement of cash flows A summarised comparative statement of financial position of Bronze Ltd is presented below, together with a statement of profit or loss and other comprehensive income for the year ended 30 June 2019 LO3, 4, 5 30 June 2018 30 June 2019 $ 35000 105000 $45000 69000 (3000) 45000 53000 187 000 (35 000) $361000 Cash Trade receivables Allowance for doubtful debts Inventories Equity investments Plant Accumulated depreciation (6000)...
ONLY ANSWER QUESTION 2 PLEASE.
Please include any T Accounts used to figure out
values.
Preparation of a statement of cash flows A summarised comparative statement of financial position of Bronze Ltd is presented below, together with a statement of profit or loss and other comprehensive income for the year ended 30 June 2019 LO3, 4, 5 30 June 2018 30 June 2019 $45000 69000 $ 35000 Cash Trade receivables 105000 (6000) 67000 60000 225000 (3000) 45000 53000 Allowance for...
Preparation of a statement of cash flows A summarised comparative statement of financial position of Fuchsia Ltd is presented below. 30 June 2018 30 June 2019 Cash 20 000 91 000 Trade accounts receivable 65 000 90 000 Inventories 58 000 62 000 Prepayments 10 000 12 000 Land 80 000 90 000 Plant 280 000 320 000 Accumulated depreciation (60 000) (92000) 453 000 573 000 Accounts payable 45 000 48 000 Borrowings 160 000 200 000 Share capital...
In a statement of cash flows in which the operating activities section is prepared under the indirect method, a gain on the sale of an investment in debt securities classified as available‐for‐sale should be presented as a(n) 1) Deduction from net income. 2) Addition to net income. 3) Inflow and outflow of cash. 4) Outflow of cash.
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing Income Statement 6.66 points $? Sales Cost of goods sold $ 611 Skipped Cash Flows from Operating Activities Indirect Method Direct Method Net income $ ? Adjustments: Decrease in accounts receivable 11 Cash received from customers Increase in inventory (22) Decrease in accounts payable (35) Cash paid to suppliers Increase in...
We need use the data to prepare cash flows from operating
activities section of the statement of cash flows using the
indirect method and develop cash flow
CASH FLOWS FROM OPERATING ACTIVITIES- INDIRECT METHOD PROBLEM DATA DEMONSTRATION COMPANY Comparative Balance Sheet Accounts December 31, 2005 2004 $30,000 $39,000 15,000 10,000 20,000 18,000 s.e Change Ce Current assets Accounts receivable Prepaid rent Inventory Current liabilities 18,000 12,000 Accounts payable Interest payable Taxes payable 6,000 2,000 3,000 S,000 DEMONSTRATION COMPANY Income Statement...
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-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Sales $445,100.00 2 Cost of merchandise sold 157,900.00 5 Gross profit $287,200.00 Operating expenses: Depreciation expense $38,300.00 116,190.00 Other operating expenses Total operating expenses 154,490.00 Income before income tax $132,710.00 Income tax expense 40,590.00 $92,120.00 10 Net income Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions The balances of selected accounts at the beginning and the end of the current year are as follows:...
In determining the cash flows from operating activities for the statement of cash flows by the indirect method, the depreciation expense for the period is added to the net income for the period.
5. The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Macrosoft Corporation. MACROSOFT CORPORATION Income Statement For the Year Ended December 31, 2018 ($ in millions) Revenues and gains: Sales $ 320.00 Gain on sale of cash equivalents 2.50 Gain on sale of investments 24.50 $ 347.00 Expenses and loss: Cost of goods sold $ 125.00 Salaries 40.50 Interest expense 12.50 Insurance 20.50 Depreciation 10.50 Patent amortization 4.50 Loss on...