Homework Answers
| Net income | 135500 | |
| Less: Increase in Accounts Receivable | -3000 | =27200-30200 |
| Less: Decrease in Accounts Payable | -4000 | =22100-26100 |
| Cash flows from Operating activities | 128500 | |
| Option B $128,500 is correct |
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Lucia Ltd. reported net income of $135,500 for the year ended December 31, 2021. January 1...
Help Save & EX Submit Lucia Ltd. reported net income of $135,000 for the year ended...
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
Bird Brain Co. reported net income of $45,300 for the year ended December 31, 2021. January...
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...
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.
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases...
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases totaled $153,900. Accounts payable balances at the beginning and end of the year were $36,700 and $31,100, respectively. Beginning and ending inventory balances were $42,400 and $46,100, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $159,500. $226,500 $207,900. $157,600.
Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. 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.
5. Woof Dog Food Co. reported net income of $44,500 for the year ended December 31,...
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 31 December 2019, Key Ltd reported opening and closing balances in the...
For the year ended 31 December 2019, Key Ltd reported opening and closing balances in the Allowance for doubtful debts account of $723 000 and $904 000 respectively. It also reported that write-offs of bad debts amounted to $648 000. Assuming that no previously written-off accounts had been collected, what amount did Key Ltd record as bad debt expense for the period? Select one: O a. $467 000 O b. $829 000 O c. $648 000 O d. $904 000
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $1,004,000. Selected...
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...
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...
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...
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
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.
Nevada Boot Co. reported net income of $217,200 for its year ended December 31, 2021. Purchases totaled $153,900. Accounts payable balances at the beginning and end of the year were $36,700 and $31,100, respectively. Beginning and ending inventory balances were $42,400 and $46,100, respectively. Assuming that all relevant information has been presented, Nevada Boot would report operating cash flows of: Multiple Choice $159,500. $226,500 $207,900. $157,600.
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 31 December 2019, Key Ltd reported opening and closing balances in the Allowance for doubtful debts account of $723 000 and $904 000 respectively. It also reported that write-offs of bad debts amounted to $648 000. Assuming that no previously written-off accounts had been collected, what amount did Key Ltd record as bad debt expense for the period? Select one: O a. $467 000 O b. $829 000 O c. $648 000 O d. $904 000
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