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Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer...
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer...
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018: Net cash provided by operating activities: $102,000 Net cash used for investing activities: S(113,500) Net cash provided by financing activities: $17,000 If the cash balance at the beginning of the year was $13,400, what is the ending cash balance? O A. $11,500 OB. $13,400 OC. $18,900 OD. $5,500
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer...
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2020 Net cash inflows from operating activities. $102,000 Net cash outfiows from investing activities: $(118,500) Net cash inflows from financing activities: $17,000 If the cash balance at the beginning of the year was $13,400, what is the ending cash balance? O A. $13,400 B. $16,500 OC. $13,900 OD. $500
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the...
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Kentucky Company Income Statement Year Ended December 31, 2019 Sales Revenue $247,000 Interest Revenue 2,200 Gain on Sale of Plant Assets 5,900 Total Revenues and Gains $255,100 Cost of Goods Sold 118,000 Salary Expense 45,000 Depreciation Expense 10,000 Other Onerating Fynences 24 0 O A. $32,700 OB. $38,600 OC. $28,600 OD. $13,000 Kentucky Company uses the indirect method to prepare the...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet for the company 2018 2017 Increasel(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock Retained earnings Treasury stock Total equity 100.000 61,000 226,000 148,000 (18,500) (12,400) $307,500 $196,600 $39,000 $78,000 ($6,100) $110,900 $89,900 Total liabilities and equity $528,500 $438,600 Additional...
Odessa Company uses the indirect method to prepare its statement of cash flows. Please refer to...
Odessa Company uses the indirect method to prepare its statement of cash flows. Please refer to the following information extracted from the comparative balance sheet for the company. 2018 2017 Increase/(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock 100,000 61,000 $39,000 Retained earnings 226,000 148,000 $78,000 Treasury stock (18,500) (12,400) ($6,100) Total equity $307,500 $196,600 $110,900 Total liabilities and equity $528,500 $438,600...
Regarding the use of a spreadsheet for the preparation of the statement of cash flows, which...
Regarding the use of a spreadsheet for the preparation of the statement of cash flows, which of the following statements is incorrect? O A. The spreadsheet cannot be used for the direct method. OB. When companies face complex situations, a spreadsheet can help in preparing the statement of cash flows. OC. Accountants can prepare the statement of cash flows directly from the lower part of the spreadsheet OD. The spreadsheet starts with the beginning balance sheet and concludes with the...
Avatar Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer...
Avatar Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet: Avatar Company Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase/decrease Common Stock $16,000 $12,000 $4,000 Retained Earnings 113,000 74,000 39,000 Treasury Stock (8,000) (5,000) (3,000) Total equity $121,000 $81,000 $40,000 Note: 1) There was no retirement of stock during the year. 2) There were no sales of treasury stock during the...
12 Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to...
12 Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet 53.000 Rodriguez Inc. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase decrease Cash $21,000 $18,000 Accounts Receivable 31,000 35,000 (4.000) Inventory 53,000 25,000 28.000 Plant and Equipment 123,000 90,000 33.000 Accumulated Depreciation Plant and Equipment (43.000) (40,000) (3.000) Total assets $228,000 $168,000 $60,000 Additional information provided by the company includes the following: •...
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2018: Net cash provided by operating activities: $102,000 Net cash used for investing activities: S(113,500) Net cash provided by financing activities: $17,000 If the cash balance at the beginning of the year was $13,400, what is the ending cash balance? O A. $11,500 OB. $13,400 OC. $18,900 OD. $5,500
Specialty Auto Parts Company uses the indirect method to prepare its statement of cash flows. Refer to the following information for 2020 Net cash inflows from operating activities. $102,000 Net cash outfiows from investing activities: $(118,500) Net cash inflows from financing activities: $17,000 If the cash balance at the beginning of the year was $13,400, what is the ending cash balance? O A. $13,400 B. $16,500 OC. $13,900 OD. $500
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet: Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 Cash Accounts Receivable Merchandise Inventory Total Assets 2018 $45,000 48,000 180.000 $273,000 2017 Increase/(Decrease) $27,000 $18,000 45,000 3,000 132.000 48.000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A. addition to net income under the operating activities...
Utah Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative balance sheet Utah Corp Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Increase/(Decrease) Cash $45,000 $27,000 $18,000 Accounts Receivable 48,000 45,000 3,000 Merchandise Inventory 180,000 132.000 48 000 Total Assets $273,000 $204,000 $69,000 How will the change in Merchandise Inventory be shown on the statement of cash flows? O A negative cash flow under the investing activities...
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Kentucky Company Income Statement Year Ended December 31, 2019 Sales Revenue $247,000 Interest Revenue 2,200 Gain on Sale of Plant Assets 5,900 Total Revenues and Gains $255,100 Cost of Goods Sold 118,000 Salary Expense 45,000 Depreciation Expense 10,000 Other Onerating Fynences 24 0 O A. $32,700 OB. $38,600 OC. $28,600 OD. $13,000 Kentucky Company uses the indirect method to prepare the...
Odessa Company uses the indirect method to prepare its statement of cash flows Please refer to the following information extracted from the comparative balance sheet for the company 2018 2017 Increasel(decrease) Accounts payable $35,000 $52,000 ($17,000) Accrued liabilities 18,000 10,000 $8,000 Long-term notes payable 168,000 180,000 ($12,000) Total liabilities $221,000 $242,000 ($21,000) Common stock Retained earnings Treasury stock Total equity 100.000 61,000 226,000 148,000 (18,500) (12,400) $307,500 $196,600 $39,000 $78,000 ($6,100) $110,900 $89,900 Total liabilities and equity $528,500 $438,600 Additional...
Regarding the use of a spreadsheet for the preparation of the statement of cash flows, which of the following statements is incorrect? O A. The spreadsheet cannot be used for the direct method. OB. When companies face complex situations, a spreadsheet can help in preparing the statement of cash flows. OC. Accountants can prepare the statement of cash flows directly from the lower part of the spreadsheet OD. The spreadsheet starts with the beginning balance sheet and concludes with the...
12 Rodriguez Inc. uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet 53.000 Rodriguez Inc. Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Increase decrease Cash $21,000 $18,000 Accounts Receivable 31,000 35,000 (4.000) Inventory 53,000 25,000 28.000 Plant and Equipment 123,000 90,000 33.000 Accumulated Depreciation Plant and Equipment (43.000) (40,000) (3.000) Total assets $228,000 $168,000 $60,000 Additional information provided by the company includes the following: •...
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