Option 3 : $ 207,900
Net Income = $217,200
Less: Decrease in Current Liability ( Accounts Payable) = $ 5,600
Less: Increse In Current Asset (Inventory) = $3,700
Net Cash flow from Operating activities = $217,200
Note
Purchase is already adjusted in Net Income
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases...
Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. Purchases totaled $153,800. Accounts payable balances at the beginning and end of the year were $36,900 and $31,500, respectively. Beginning and ending inventory balances were $42,200 and $48,000, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $206,200. $159,600. $159,200. $228,600.
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $24.400 respectively. Year-end balances in these accounts were $22,000 and $28,700, respectively. Assuming that all relevant Information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $48,000 $45,300 $39.400 $51,200
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $23,600 and $25,600 respectively. Year-end balances in these accounts were $21,000 and $29,600, respectively. Assuming that all relevant information has been presented, Bird Brain's cash flows from operating activities would be: Multiple Choice $45,300. $51,900. O $46,700. O $38,700.
Lucia Ltd. reported net income of $135,500 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $27,200 and $26,100, respectively. Year-end balances in these accounts were $30,200 and $22,100, respectively. Assuming that all relevant information has been presented, Lucia's cash flows from operating activities would be: Multiple Choice $142,500. $128,500. $78,100. $138,500.
Help Save & EX Submit Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2021. January 1 balances in accounts receivable and accounts payable were $29,000 and $26,000, respectively. Year-end balances in these accounts were $30,000 and $24.000, respectively. Assuming that all relevant Information has been presented, Lucia's cash flows from operating activities would be: Multiple Choice O $134,000 O $132,000 O $136.000 $138.00 $138,000
5. Woof Dog Food Co. reported net income of $44,500 for the year ended December 31, 2003. January 1 balances in accounts receivable and accounts payable were $23,000 and $26,000 respectively. Year-end balances in these accounts were $22,000 and $28,000 respectively. Depreciation expense for the period was $500. Assuming that all relevant information has been presented, Woof's cash flows from operating activities would be: A) $48,000 B) $44,000 C) $46,000 D) $45,000 6. Reba wishes to know how much would...
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,004,000. Selected information for 2021 from Fidelity’s records follows: Interest income on municipal governmental bonds $ 60,000 Depreciation claimed on the 2021 tax return in excess of depreciation on the income statement 84,000 Carrying amount of depreciable assets in excess of their tax basis at year-end 144,000 Warranty expense reported on the income statement 40,000 Actual warranty expenditures in 2021 30,000 Fidelity's income tax rate is...
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,008,000. Selected information for 2021 from Fidelity’s records follows: Interest income on municipal governmental bonds $ 64,000 Depreciation claimed on the 2021 tax return in excess of depreciation on the income statement 88,000 Carrying amount of depreciable assets in excess of their tax basis at year-end 152,000 Warranty expense reported on the income statement 42,000 Actual warranty expenditures in 2021 32,000 Fidelity's income tax rate is...
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,000,000. Selected information for 2021 from Fidelity’s records follows: Interest income on municipal governmental bonds $ 56,000 Depreciation claimed on the 2021 tax return in excess of depreciation on the income statement 80,000 Carrying amount of depreciable assets in excess of their tax basis at year-end 136,000 Warranty expense reported on the income statement 38,000 Actual warranty expenditures in 2021 28,000 Fidelity's income tax rate is...
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting Income of $1,028,000. Selected Information for 2021 from Fidelity's records follows: $ 84,000 108,000 Interest income on municipal governmental bonds Depreciation claimed on the 2021 tax return in excess of depreciation on the income statement Carrying amount of depreciable assets in excess of their tax basis at year-end Warranty expense reported on the income statement Actual warranty expenditures in 2021 192,000 52,000 42,000 Fidelity's Income tax rate is...