Which of the following describes the analytic process to determine the depreciation expense included in the forecasted statement of cash flows?
Homework Answers
Answer : option ( E )
Explanation :
Depreciation expense is calculated from historical average depreciation expense, not the footnoted rates.
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Which of the following describes the analytic process to
determine the depreciation expense included in the...
ving to another question will save this response. Question 7 Which of the following costs would...
ving to another question will save this response. Question 7 Which of the following costs would not be included as part of manufacturing overhead? Insurance on production equipment Direct labor costs. Depreciation of production equipment. Supplies for the office workers Moving to another question will save this response.
ving to another question will save this response. Question 7 Which of the following costs would not be included as part of manufacturing overhead? Insurance on production equipment Direct labor costs. Depreciation...
Income Statement Sales $191,140 Costs Except Depreciation (99,590) EBITDA $91,550 Depreciation (6,010) EBIT $85,540 Interest Expense...
Income
Statement
Sales $191,140
Costs Except Depreciation (99,590)
EBITDA $91,550
Depreciation (6,010)
EBIT $85,540
Interest Expense (net) (570)
Pretax Income $84,970
Income Tax (29,740)
Net Income $55,230
Balance Sheet
Assets
Cash and Equivalents $15,070
Accounts Receivable 2,040
Inventories 4,070
Total Current Assets $21,180
Property, Plant and Equipment 9,980
Total Assets $31,160
Liabilities and Equity
Accounts Payable $1,510
Debt 3,940
Total Liabilities $5,450
Stockholders' Equity 25,710
Total Liabilities and Equity $31,160
I'm trying to find forecasted cost the answer I...
In its 2017 annual report, Allen Company reports the following (in thousands): 2017 2016 Total revenue...
In its 2017 annual report, Allen Company reports the following (in thousands): 2017 2016 Total revenue $102,500 $99,400 Property, plant, equipment, gross 41,300 38,700 Property, plant, equipment, net 16,540 14,905 Depreciation expense 1,935 1,655 If revenue growth is projected to be 5%, the 2018 forecasted depreciation expense to be added back on the statement of cash flows is: A. $1,935 thousand B. $2,147 thousand C. $1,766 thousand D. $2,065 thousand E. None of the above disregard
Depreciation expense—administrative office $ 34,450 Depreciation expense—plant and equipment 89,500 Direct labor—wages 514,800 Materials Inventory, Dec....
Depreciation expense—administrative office $ 34,450 Depreciation expense—plant and equipment 89,500 Direct labor—wages 514,800 Materials Inventory, Dec. 31 31,250 Materials Inventory, Jan. 1 22,500 Direct materials purchases 172,500 Finished goods inventory, Dec. 31 24,400 Finished goods inventory, Jan. 1 15,700 Heat, light, and power—plant 46,100 Indirect labor 26,400 Property taxes—plant 35,750 Sales representatives’ salaries 148,500 Sales revenue 1,566,000 Factory supervisor’s salary 67,050 Supplies—administrative office 17,400 Supplies—plant 29,700 Work-in-process inventory, Dec. 31 10,400 Work-in-process inventory, Jan. 1 24,750 Can you help me...
Which of the following best describes the independent auditors' approach to obtaining satisfaction concerning depreciation expense...
Which of the following best describes the independent auditors' approach to obtaining satisfaction concerning depreciation expense in the income statement? Multiple Choice () Reconcile the amount of depreciation expense to those amounts credited to accumulated depreciation accounts 0 Establish the basis for depreciable assets and verify the depreciation expense Determine the method for computing depreciation expense and ascertain that is in accordance with generally accepted accounting principles C ) Verify the mathematical accuracy of the amounts charged to income as...
The income statement disclosed the following items for the year: depreciation expense $55500 gain on disposal...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Consider the following information for Huntersville, Inc, for the fiscal year ended December 31 Depreciation expense-administrative...
Consider the following information for Huntersville, Inc, for the fiscal year ended December 31 Depreciation expense-administrative office $ 32,000 Depreciation expense-plant and equipment 86,000 Direct labor-wages 487,000 Direct materials inventory, Dec. 31 26,000 Direct materials inventory, Jan. 1 19,000 Direct materials purchases 155,000 Finished goods inventory, Dec. 31 38,000 Finished goods inventory, Jan. 1 15,000 Heat, light, and power-plant 44,000 Indirect labor 25,000 Property taxes-plant 34,000 Sales representatives' salaries 145,000 Sales revenue 1,495,000 Factory supervisor's salary 66,000 Supplies-administrative office 16,000...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor wages Materials Inventory, Dec. 31 Materials Inventory, Jan. 1 Direct materials purchases Finished goods inventory, Dec. 31 Finished goods inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries Sales revenue Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, Dec. 31 Work-in-process inventory, Jan. 1 38,65e 95,500 561,600 40,250 28,500 202,500 24,400 16,900...
The following information is related to Alpha Company's fiscal year 2017. Net Income $300,000 Depreciation Expense...
The following information is related to Alpha Company's fiscal year 2017. Net Income $300,000 Depreciation Expense 50,000 Gain on Sale of Plant Assets 5,000 Accounts Payable decrease by 4,000 Purchase of land 250,000 Sale of Equipment 105,000 Additional Information: Beginning Cash Balance: $50,000 Ending Cash Balance: $216,000 Equipment was sold for 105,000 in cash. Land was paid for in cash. Common Stock exchanged for outstanding Long Term Notes Payable of $125,000 Dividends paid were $30,000 Use this information to prepare...
Which of the following is included in cash flows from financing activities? a. Purchase of shares...
Which of the following is included in cash flows from financing activities? a. Purchase of shares in another company. b. Interest expense. c. Sale of equipment. d. Interest revenue. e. Purchase of treasury shares.
ving to another question will save this response. Question 7 Which of the following costs would not be included as part of manufacturing overhead? Insurance on production equipment Direct labor costs. Depreciation of production equipment. Supplies for the office workers Moving to another question will save this response.
ving to another question will save this response. Question 7 Which of the following costs would not be included as part of manufacturing overhead? Insurance on production equipment Direct labor costs. Depreciation...
Income
Statement
Sales $191,140
Costs Except Depreciation (99,590)
EBITDA $91,550
Depreciation (6,010)
EBIT $85,540
Interest Expense (net) (570)
Pretax Income $84,970
Income Tax (29,740)
Net Income $55,230
Balance Sheet
Assets
Cash and Equivalents $15,070
Accounts Receivable 2,040
Inventories 4,070
Total Current Assets $21,180
Property, Plant and Equipment 9,980
Total Assets $31,160
Liabilities and Equity
Accounts Payable $1,510
Debt 3,940
Total Liabilities $5,450
Stockholders' Equity 25,710
Total Liabilities and Equity $31,160
I'm trying to find forecasted cost the answer I...
Which of the following best describes the independent auditors' approach to obtaining satisfaction concerning depreciation expense in the income statement? Multiple Choice () Reconcile the amount of depreciation expense to those amounts credited to accumulated depreciation accounts 0 Establish the basis for depreciable assets and verify the depreciation expense Determine the method for computing depreciation expense and ascertain that is in accordance with generally accepted accounting principles C ) Verify the mathematical accuracy of the amounts charged to income as...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Consider the following information for Huntersville, Inc, for the fiscal year ended December 31 Depreciation expense-administrative office $ 32,000 Depreciation expense-plant and equipment 86,000 Direct labor-wages 487,000 Direct materials inventory, Dec. 31 26,000 Direct materials inventory, Jan. 1 19,000 Direct materials purchases 155,000 Finished goods inventory, Dec. 31 38,000 Finished goods inventory, Jan. 1 15,000 Heat, light, and power-plant 44,000 Indirect labor 25,000 Property taxes-plant 34,000 Sales representatives' salaries 145,000 Sales revenue 1,495,000 Factory supervisor's salary 66,000 Supplies-administrative office 16,000...
Consider the following information for Huntersville Inc. for the fiscal year ended December 31. Depreciation expense-administrative office Depreciation expense-plant and equipment Direct labor wages Materials Inventory, Dec. 31 Materials Inventory, Jan. 1 Direct materials purchases Finished goods inventory, Dec. 31 Finished goods inventory, Jan. 1 Heat, light, and power-plant Indirect labor Property taxes-plant Sales representatives' salaries Sales revenue Factory supervisor's salary Supplies-administrative office Supplies-plant Work-in-process inventory, Dec. 31 Work-in-process inventory, Jan. 1 38,65e 95,500 561,600 40,250 28,500 202,500 24,400 16,900...
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