Dense Company's income statement showed revenues of $275,000 and operating expenses of $135,000. Accounts receivable decreased...
Dense Company's income statement showed revenues of $275,000 and operating expenses of $135,000. Accounts receivable decreased by $40,000 and accounts payable increased by $35,000 during the year. Compute cash receipts from customers and cash payments for operating expenses using the direct method.
Cash receipts from customers $
Cash payments for operating expenses $
Homework Answers
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Cash receipts from customers = Revenues + Decrease in accounts receivable = 275,000 + 40,000 = 315,000 |
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Cash payments for operating expenses = Operating expenses - increase in accounts payable = 135,000 - 35,000 = 100,000 |
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Dense Company's income statement showed revenues of $275,000 and
operating expenses of $135,000. Accounts receivable decreased...
A company's income statement showed the following: net income, $132,000; depreciation expense, $39,000; and gain on...
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Help Save & Ex A company's income statement showed the following net income, $133,000 depreciation expense,...
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Exercise 23-7 Presented below are two independent situations. Situation A: Novak Co. reports revenues of $200,000...
Exercise 23-7
Presented below are two independent situations.
Situation A:
Novak Co. reports revenues of $200,000 and operating expenses of
$109,000 in its first year of operations, 2017. Accounts receivable
and accounts payable at year-end were $71,700 and $29,300,
respectively. Assume that the accounts payable related to operating
expenses. (Ignore income taxes.)
Using the direct method, compute net cash provided (used) by
operating activities. (Show amounts that decrease cash
flow with either a - sign e.g. -15,000 or in parenthesis...
Exercise 23B-7 Presented below are two independent situations. Situation A: Ivanhoe Co. reports revenues of $198,000...
Exercise 23B-7 Presented below are two independent situations. Situation A: Ivanhoe Co. reports revenues of $198,000 and operating expenses of $109,000 in its first year of operations, 2017. Accounts receivable and accounts payable at year-end were $71,200 and $28,700, respectively. Assume that the accounts payable related to operating expenses. (Ignore income taxes.) Using the direct method, compute net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis...
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A company's income statement showed the following: net income, $118,000; depreciation expense. $32,000; and gain on sale of plant assets. $6.000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $9,800; merchandise inventory increased $20,000; prepaid expenses increased $6,600; accounts payable increased $3.800. Calculate the net cash provided or used by operating activities. Multiple Choice $142,200. O $144,200. $149,000. O $170,200. O $131,000
A company's income statement showed the following: net income, $148,000 and depreciation expense, $37,200. An examination of the company's current assets and current liabilities showed the following changes: accounts receivable decreased $11,800; merchandise inventory increased $22,800; and accounts payable increased $5,800. Calculate the net cash provided or used by operating activities. Multiple Choice O $142,000 O $190,400 O $144.800 O $180,000 O $214,000
Help Save & Ex A company's income statement showed the following net income, $133,000 depreciation expense, $39,500 and gain on sale of plant assets, $13,500. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $11,300; merchandise inventory increased $27.500, prepaid expenses increased $8,100; accounts payable increased $5300 Calculate the net cash provided or used by operating activities Multiple Choice $154 200 $140 000 $161,000 $156,200 $182 200. < Prev 32 of 36...
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Exercise 23-7
Presented below are two independent situations.
Situation A:
Novak Co. reports revenues of $200,000 and operating expenses of
$109,000 in its first year of operations, 2017. Accounts receivable
and accounts payable at year-end were $71,700 and $29,300,
respectively. Assume that the accounts payable related to operating
expenses. (Ignore income taxes.)
Using the direct method, compute net cash provided (used) by
operating activities. (Show amounts that decrease cash
flow with either a - sign e.g. -15,000 or in parenthesis...
Exercise 23B-7 Presented below are two independent situations. Situation A: Ivanhoe Co. reports revenues of $198,000 and operating expenses of $109,000 in its first year of operations, 2017. Accounts receivable and accounts payable at year-end were $71,200 and $28,700, respectively. Assume that the accounts payable related to operating expenses. (Ignore income taxes.) Using the direct method, compute net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis...
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