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Net income 8,000 The following information pertains to Carolina Company: $ 65,000 Increase in accounts payable...
Use the following information, taken from the Kentucky Company records for the next three questions: Net...
Use the following information, taken from the Kentucky Company records for the next three questions: Net Income $58,000 Depreciation Expense 8,000 Payment of Dividends 2,200 Increase in Accounts Receivable 1,400 Cash Receipts on Notes Receivable 6,000 Loss on Sale of 12000 Decrease in Inventories 2,000 Increase in Accounts Payable 2,700 Decrease in Prepaid Expenses 800 Acquisition of Equipment 24,000 Sale of Treasury Stock 13,600 Payment of Long-term Deb t9,000 Proceed from Sale of Land 42,000 The net cash inflow from...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000 11. Based on the above information, what amount will the corporation report as Cash Provided by Operating Activities on the cash flow statement? A. $65,000 B. $125,000 C$155,000 D. $100,000 I Net Income Depreciation expense Gain on sale of truck Proceeds from sale of truck Decrease in accounts receivable $200,000 30,000 5,000 8,000 10,000 12. Assuming these are the only facts, what amount will...
7 Use the following Baycraft Ltd. information for questions 7 through 10. Under the indirect method,...
7 Use the following Baycraft Ltd. information for questions 7 through 10. Under the indirect method, net cash provided by operating activities would be (10 Points) Net Income Depreciation Expense Payment of Dividends Increase in Accounts Receivable Collection of Notes Receivable Loss on Sale of Land $47,000 Decrease in Inventories 8.000 Increase in Accounts Payable 2,000 Acquisition of Equipment 4,000 Sale of Shares 6,000 Payment of Long-Term Debt 12,000 Proceeds from Sale of Land $ 2,000 7,000 24,000 3,000 9,000...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents December 31 2017 2016 $33,400 $13,100 12,300 10,000 12,200 9,100 -0 2,900 -0 29,500 45,400 20,200 5,000 6,200 $108,300 $91,000 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2,000 -0- 5,000 -0- 3,000 31,000 43,000 21,300 $108,300 $4,500 4,600 6,100...
572,000 b. 575.000 $83.000 d. $34000 Net cash provided by (used for) investing activities would be...
572,000 b. 575.000 $83.000 d. $34000 Net cash provided by (used for) investing activities would be (10 Points) O a. $18.000 b. $(12,000) O c. $(6,000) O d. $24,000. Net cash provided by (used for) financing activities would be (10 Points) a $4.000 b. $2,000 O c5(8,000). d. $(11.000) о D Use the following Baycraft Ltd. information for questions 7 through 10. Under the indirect method, net cash provided by operating activities would be 5 (10 Points) Net Income Depreciation...
Net Income for A company is $100,000. The company had $14,000 in depreciation expense, a loss...
Net Income for A company is $100,000. The company had $14,000 in depreciation expense, a loss on the sale of Equipment of $1,000, an increase in accounts payable of $7,000, a decrease in accounts receivable of $5,000, an increase in inventory of $6,000, and a decrease in unearned revenue of $2,000. Fill out the Cash Flow Statement below. Note that $XX represents an addition an ($XX) represents a subtraction. A Company Cash Flow Statement Cash Flow from Operating Activities Net...
Winslow Manor Construction provided the following information during the year: Proceeds from sale of building $65,000...
Winslow Manor Construction provided the following information during the year: Proceeds from sale of building $65,000 Cash paid to purchase inventories 22,000 Proceeds from issuing long-term debt 17,000 Dividends paid to stockholders 12,000 Purchase of land for cash 56,000 Cash collected from customers 180,000 How much is the net cash provided(/used) by investing activities during the year?
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from...
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from Operating Activities Change 2010 2009 $ Assets Cash Acct Receivable Inventory Prepaid Exp Land Equipment Accumulated depreciation - equipment Total assets 66,000 (1,000) 37,000 (2,000) (12,000) (15,000) (12,000) $ 88,000 $ 22,000 80,000 81,000 60,000 23,000 8,000 10,000 107,000 119,000 39,000 54,000 (64,000) (52,000) $ 318,000 $ 257,000 Liabilities AP Wages Pay Interest Pay Taxes Pay Notes payable, long term Total liabilities. (14,000) 16,000...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received dividends Decrease in merchandise inventory Decrease in long-term notes payable Increase in retained earnings Cash received from sale of equipment Issued common stock for cash $1,200 1,800 3,200 6,100 3,500 3,700 Based on this information, what is MAP's net cash provided (used) by financing activities for 2019? a. $500 b. ($1,500) c. ($2,200) d. $3,700 To the following information for the next TWO que...
Spreadsheet and Statement The following 2016 information is available for Stewart Company: Condensed Income Statement for...
Spreadsheet and Statement The following 2016 information is available for Stewart Company: Condensed Income Statement for 2016 Sales $9,000 Cost of goods sold (6,000) Other expenses (2,000) Loss on sale of equipment (260) Gain on sale of land 400 Net income $1,140 Comparative Balance Sheets December 31, 2015 December 31, 2016 Cash $700 $1,130 Accounts receivable 450 310 Inventory 350 400 Land 300 500 Equipment 1,600 1,800 Less: Accumulated depreciation (200) (150) Total Assets $3,200 $3,990 Accounts payable $600 $750...
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $100,000 10,000 30,000 15,000 11. Based on the above information, what amount will the corporation report as Cash Provided by Operating Activities on the cash flow statement? A. $65,000 B. $125,000 C$155,000 D. $100,000 I Net Income Depreciation expense Gain on sale of truck Proceeds from sale of truck Decrease in accounts receivable $200,000 30,000 5,000 8,000 10,000 12. Assuming these are the only facts, what amount will...
7 Use the following Baycraft Ltd. information for questions 7 through 10. Under the indirect method, net cash provided by operating activities would be (10 Points) Net Income Depreciation Expense Payment of Dividends Increase in Accounts Receivable Collection of Notes Receivable Loss on Sale of Land $47,000 Decrease in Inventories 8.000 Increase in Accounts Payable 2,000 Acquisition of Equipment 4,000 Sale of Shares 6,000 Payment of Long-Term Debt 12,000 Proceeds from Sale of Land $ 2,000 7,000 24,000 3,000 9,000...
Problem 23-2 The comparative balance sheets for Concord Corporation show the following information. Cash Accounts receivable Inventory Available-for-sale debt investments Buildings Equipment Patents December 31 2017 2016 $33,400 $13,100 12,300 10,000 12,200 9,100 -0 2,900 -0 29,500 45,400 20,200 5,000 6,200 $108,300 $91,000 Allowance for doubtful accounts Accumulated depreciation equipment Accumulated depreciation-building Accounts payable Dividends payable Notes payable, short-term (nontrade) Long-term notes payable Common stock Retained earnings $3,000 2,000 -0- 5,000 -0- 3,000 31,000 43,000 21,300 $108,300 $4,500 4,600 6,100...
572,000 b. 575.000 $83.000 d. $34000 Net cash provided by (used for) investing activities would be (10 Points) O a. $18.000 b. $(12,000) O c. $(6,000) O d. $24,000. Net cash provided by (used for) financing activities would be (10 Points) a $4.000 b. $2,000 O c5(8,000). d. $(11.000) о D Use the following Baycraft Ltd. information for questions 7 through 10. Under the indirect method, net cash provided by operating activities would be 5 (10 Points) Net Income Depreciation...
Name: Ziggy - Balance Sheet Ziggy, Inc. Statement of Cash Flows Indirect Method Cash Flows from Operating Activities Change 2010 2009 $ Assets Cash Acct Receivable Inventory Prepaid Exp Land Equipment Accumulated depreciation - equipment Total assets 66,000 (1,000) 37,000 (2,000) (12,000) (15,000) (12,000) $ 88,000 $ 22,000 80,000 81,000 60,000 23,000 8,000 10,000 107,000 119,000 39,000 54,000 (64,000) (52,000) $ 318,000 $ 257,000 Liabilities AP Wages Pay Interest Pay Taxes Pay Notes payable, long term Total liabilities. (14,000) 16,000...
9. For 2019, MAP Inc. had net income of $8,100 and collected the following information: Received dividends Decrease in merchandise inventory Decrease in long-term notes payable Increase in retained earnings Cash received from sale of equipment Issued common stock for cash $1,200 1,800 3,200 6,100 3,500 3,700 Based on this information, what is MAP's net cash provided (used) by financing activities for 2019? a. $500 b. ($1,500) c. ($2,200) d. $3,700 To the following information for the next TWO que...
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