Homework Answers
| Cash Flows from Operating Activities Direct Method | |||
| For the Current Year Ended December 31 | |||
| Particulars | Amounts | ||
| Cash flows from operating activities | |||
| Cash received from customer | $1,31,500 | = 130200 + (8000-6700) | |
| Less: | Cash paid to supplier | $ - 55,290 | = 53000 + ((3080-2090) + (6800-5500)) |
| Less: | Cash paid for salaries | $ - 28,710 | = 29000 - (1100-810) |
| Less: | Cash paid for utilities | $ - 3,730 | = 3900 - (440-270) |
| Less: | Cash paid for rent | $ - 10,250 | = 10100 + (440-290) |
| Less: | Cash paid for insurance | $ - 4,770 | = 4900 - (500 - 370) |
| Less: | Cash paid for interest | $ - 4,700 | |
| Net Cash flow from operating activities | $ 24,050 |
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Required information Use the following information for the Problems below. (Algo) [The following information applies to...
Required information [The following information applies to the questions displayed below.] Lansing Company's current-year income statement...
Required information [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $ 151,200 Expenses Cost of goods sold 60,000 Depreciation expense 21,000 Salaries expense 36,000 Rent expense 10,800 Insurance expense 5,600 Interest expense 5,400 Utilities expense 4,600 Net income 7,800 LANSING COMPANY Selected Balance Sheet Accounts At December...
Required Information Use the following information for the Problems below. [The following information applies to the...
Required Information Use the following information for the Problems below. [The following information applies to the questions displayed below.] Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue $157,200 Expenses Cost of goods sold 62,eee Depreciation expense 22. eee Salaries expense 38.809 Rent expense 11. eee Insurance expense 5, see Interest expense 5.689 Utilities...
Required information [The following information applies to the questions displayed below.) Lansing Company's current-year income statement...
Required information [The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $115, 200 Expenses Cost of goods sold 48,000 Depreciation expense 15,000 Salaries expense 24,000 Rent expense 9,600 Insurance expense 4,400 Interest expense 4,200 Utilities expense 3,400 Net income $ 6,600 LANSING COMPANY Selected Balance Sheet Accounts At...
Required Information The following information applies to the questions displayed below.] Lansing Company's current-year Income statement...
Required Information The following information applies to the questions displayed below.] Lansing Company's current-year Income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $142,200 Expenses Cost of goods sold 57,000 Depreciation expense 19,500 Salaries expense 33,000 Rent expense 10,500 Insurance expense 5,300 Interest expense 5,100 Utilities expense 4,300 Net income S7.500 LANSING COMPANY Selected Balance Sheet Accounts At December 31...
(The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected...
(The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $106,200 Expenses Cost of goods sold 45,000 Depreciation expense 13,500 Salaries expense 21,000 Rent expense 9,300 Insurance expense 4,100 Interest expense 3,900 Utilities expense 3,100 Net income $ 6,300 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current...
ms Saved Required information (The following information applies to the questions displayed below.] Lansing Company's current-year...
ms Saved Required information (The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $154, 200 Expenses Cost of goods sold Depreciation expense Salaries expense 61,000 21,s00 37,000 10,900 5,700 5,see 4,700 $ 7,900 Rent expense Insurance expense Interest expense Utilities expense Net income LANSING COMPANY Selected Balance Sheet...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $118,200 Expenses Cost of goods sold 49,000 Depreciation expense 15,500 Salaries expense 25,000 Rent expense 9,700 Insurance expense 4,500 Interest expense 4,300 Utilities expense 3,500 Net income $ 6,700 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $6,300 Inventory 2,680 Accounts payable 5,100...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $154,200 Expenses Cost of goods sold 61,000 Depreciation expense 21,500 Salaries expense 37,000 Rent expense 10,900 Insurance expense 5,700 Interest expense 5,500 Utilities expense 4,700 Net income $ 7,900 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $7,500 Inventory 3,880 Accounts payable 6,300...
Connect Homework: Chapter 12 ( The following information applies to the questions displayed below.) Lansing Company's...
Connect Homework: Chapter 12 ( The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. points eBook LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $145,200 Expenses Cost of goods sold 58,000 Depreciation expense 20,000 Salaries expense 34,000 Rent expense 10,600 Insurance expense 5,400 Interest expense 5,200 Utilities expense 4,400 Net income $ 7,600 Print References LANSING...
(The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected...
(The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $100, 200 Expenses Cost of goods sold Depreciation expense Salaries expense 43,000 12,500 19,000 Rent expense 9,100 3,900 3,700 2,900 Insurance expense Interest expense Utilities expense Net income 6,100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Prior...
Required information [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $ 151,200 Expenses Cost of goods sold 60,000 Depreciation expense 21,000 Salaries expense 36,000 Rent expense 10,800 Insurance expense 5,600 Interest expense 5,400 Utilities expense 4,600 Net income 7,800 LANSING COMPANY Selected Balance Sheet Accounts At December...
Required Information Use the following information for the Problems below. [The following information applies to the questions displayed below.] Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue $157,200 Expenses Cost of goods sold 62,eee Depreciation expense 22. eee Salaries expense 38.809 Rent expense 11. eee Insurance expense 5, see Interest expense 5.689 Utilities...
Required information [The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $115, 200 Expenses Cost of goods sold 48,000 Depreciation expense 15,000 Salaries expense 24,000 Rent expense 9,600 Insurance expense 4,400 Interest expense 4,200 Utilities expense 3,400 Net income $ 6,600 LANSING COMPANY Selected Balance Sheet Accounts At...
Required Information The following information applies to the questions displayed below.] Lansing Company's current-year Income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $142,200 Expenses Cost of goods sold 57,000 Depreciation expense 19,500 Salaries expense 33,000 Rent expense 10,500 Insurance expense 5,300 Interest expense 5,100 Utilities expense 4,300 Net income S7.500 LANSING COMPANY Selected Balance Sheet Accounts At December 31...
(The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $106,200 Expenses Cost of goods sold 45,000 Depreciation expense 13,500 Salaries expense 21,000 Rent expense 9,300 Insurance expense 4,100 Interest expense 3,900 Utilities expense 3,100 Net income $ 6,300 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current...
ms Saved Required information (The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $154, 200 Expenses Cost of goods sold Depreciation expense Salaries expense 61,000 21,s00 37,000 10,900 5,700 5,see 4,700 $ 7,900 Rent expense Insurance expense Interest expense Utilities expense Net income LANSING COMPANY Selected Balance Sheet...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $118,200 Expenses Cost of goods sold 49,000 Depreciation expense 15,500 Salaries expense 25,000 Rent expense 9,700 Insurance expense 4,500 Interest expense 4,300 Utilities expense 3,500 Net income $ 6,700 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $6,300 Inventory 2,680 Accounts payable 5,100...
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $154,200 Expenses Cost of goods sold 61,000 Depreciation expense 21,500 Salaries expense 37,000 Rent expense 10,900 Insurance expense 5,700 Interest expense 5,500 Utilities expense 4,700 Net income $ 7,900 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $7,500 Inventory 3,880 Accounts payable 6,300...
Connect Homework: Chapter 12 ( The following information applies to the questions displayed below.) Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. points eBook LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $145,200 Expenses Cost of goods sold 58,000 Depreciation expense 20,000 Salaries expense 34,000 Rent expense 10,600 Insurance expense 5,400 Interest expense 5,200 Utilities expense 4,400 Net income $ 7,600 Print References LANSING...
(The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $100, 200 Expenses Cost of goods sold Depreciation expense Salaries expense 43,000 12,500 19,000 Rent expense 9,100 3,900 3,700 2,900 Insurance expense Interest expense Utilities expense Net income 6,100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Prior...
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