Homework Answers
| net income | 162200 |
| adjustment to reconcile net income | |
| depreciation expenses | 13900 |
| patent amortization expenses | 4900 |
| loss on sale of depreciable assets | 7900 |
| increase in accounts receivable | -24900 |
| decrease in prepaid exp | 9900 |
| increase in accounts payable | 12900 |
| decrease in unearned revenue | -20900 |
| decrease in wages payable | -10900 |
| Total | -7200 |
| cash flow from operating activities | 155000 |
| Option $ 162200 Is CORRECT |
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Question 18 3 pts KJ Company, a manufacturer, uses the indirect method for preparing its statement...
In preparing a company's statement of cash flows using the indirect method, the following information is...
In
preparing a company's statement of cash flows using the indirect
method, the following information is availiable:
Net income Accounts payable decreased by Accounts receivable increased by Inventories increased by Depreciation expense $82,000 33,000 40,000 20,000 60,000 Net cash provided by operating activities was: Multiple Choice ο $115,000. ο $155,000. ο $49,000. ο $75,000. ο $82,000.
Darwin Company, a manufacturer, has provided the following information pertaining to its recent year of operation:...
Darwin Company, a manufacturer, has provided the following information pertaining to its recent year of operation: Net income, $205,000 Accounts receivable increased $18,500 Prepaid insurance increased $7,500 Depreciation expense was $27,500 Loss on sale of a building was $22,500 Wages payable increased $14,500 Unearned revenue decreased $23,500 Using the indirect method, how much was Darwin's net cash provided by operating activities? $190,000. $175,000. $237,000. $220,000.
company s statement of casri fiows using the indirect method, the followinng iniormation is available: Net...
company s statement of casri fiows using the indirect method, the followinng iniormation is available: Net income $59,000 25,000 Accounts payable decreased by Accounts receivable increased by 32,000 Inventories increased by 12,000 Cash dividends paid 15,400 Depreciation expense 27,000 Net cash provided by operating activities was: Multiple Choice $51,000 $75,600. $141,000. $37,000. $17,000.
Dhuil Problem 3: Starfire Company uses the indirect method to prepare the statement of cash income...
Dhuil
Problem 3: Starfire Company uses the indirect method to prepare the statement of cash income statement: Starfire Company Income Statement Year Ended December 31, 2015 Sales Revenue Interest Revenue Loss on Sale of Plant Assets Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Net Income/(loss) $275,000 2,600 2,000 135,000 66,500- 32,000 35,900 2,40 6,500 $1,300 Additional information provided by the company includes the following: Current assets other than cash decreased by...
Prepare the following activities section of the statement of cash flows for the year ended november 30,2014 for paxson company using the indirect method
The income statement of Paxson Company is presented herePaxson CompanyIncome StatementFor the Year Ended November 30,2014Sales Revenue$7,600,000Cost of goods soldBeginning Inventory$1,900,000Purchases4,400,000Goods available for use6,300,000Ending inventory1,600,000Total cost of goods sold4,700,000Gross profit2,900,000Operating ExpensesSelling expenses450,000Administrative expenses700,000Net income$1,750,000Additional information:Accounts receivable decreased $380,000 during the year, and inventory decreased $300,000Prepaid expenses increased $150,000 during the yearAccounts payable to suppliers of merchandise decreased $350,000 during the yearAccrued expenses payable decreased $100,000 during the yearAdministrative expenses include depreciation expense of $110,00Instructions Prepare the operating activities section of the...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare a statement of cash flows for Stable Equipment Company for the year ended December 31, 2018. Use the indirect method for the operating activities section of the statement. Information: Net income for the year 2018 was $5,000. Depreciation expense included in net income was $8,000. Accounts receivable decreased $2,000, while inventories increased $4,000. Accounts payable decreased $7,000. During the year, a piece of land...
Question 3 (10%) The adjusted trial balance shown below is for Big Company at the end...
Question 3 (10%) The adjusted trial balance shown below is for Big Company at the end of its fiscal year. BIG COMPANY Trial Balance March 31, 2017 ebit 12,900 9,400 700 Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation-Equipment. Accounts Payable Salaries and Wages Payable.... Unearned Rent Revenue Common Stock 2,500 16,000 $ 4,800 5,800 1,100 600 15,000 5,600 Retained Earnings. Dividends.. Service Revenue Rent Revenue 34,600 14,400 Salaries and Wages Expense Supplies Expense Rent Expense.. 18,100 1,800 12,000...
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...
Outdoor Paints Company uses the direct method for preparing its statement of cash flow. Outdoor reports...
Outdoor Paints Company uses the direct method for preparing its statement of cash flow. Outdoor reports the following information regarding 2019. From the income statement: Sales Revenues, $270,000 Cost of Goods Sold, $213,000 Operating Expenses, $31,000 From the balance sheet: Beginning Balance $15,000 24,200 Accounts Receivable Merchandise Inventory Accounts Payable Accrued Liabilities Ending Balance $18,200 18,300 13,800 1,600 6,900 4,700 O A. $35,700 OB. $31,000 OC. $34,100 OD. $29.400 Oregon Company is preparing its satement of cash flows using the...
In
preparing a company's statement of cash flows using the indirect
method, the following information is availiable:
Net income Accounts payable decreased by Accounts receivable increased by Inventories increased by Depreciation expense $82,000 33,000 40,000 20,000 60,000 Net cash provided by operating activities was: Multiple Choice ο $115,000. ο $155,000. ο $49,000. ο $75,000. ο $82,000.
company s statement of casri fiows using the indirect method, the followinng iniormation is available: Net income $59,000 25,000 Accounts payable decreased by Accounts receivable increased by 32,000 Inventories increased by 12,000 Cash dividends paid 15,400 Depreciation expense 27,000 Net cash provided by operating activities was: Multiple Choice $51,000 $75,600. $141,000. $37,000. $17,000.
Dhuil
Problem 3: Starfire Company uses the indirect method to prepare the statement of cash income statement: Starfire Company Income Statement Year Ended December 31, 2015 Sales Revenue Interest Revenue Loss on Sale of Plant Assets Cost of Goods Sold Salary Expense Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Net Income/(loss) $275,000 2,600 2,000 135,000 66,500- 32,000 35,900 2,40 6,500 $1,300 Additional information provided by the company includes the following: Current assets other than cash decreased by...
Question #7 Statement of Cash Flows-Indirect Method compilation (16 points) Use the following information to prepare a statement of cash flows for Stable Equipment Company for the year ended December 31, 2018. Use the indirect method for the operating activities section of the statement. Information: Net income for the year 2018 was $5,000. Depreciation expense included in net income was $8,000. Accounts receivable decreased $2,000, while inventories increased $4,000. Accounts payable decreased $7,000. During the year, a piece of land...
Question 3 (10%) The adjusted trial balance shown below is for Big Company at the end of its fiscal year. BIG COMPANY Trial Balance March 31, 2017 ebit 12,900 9,400 700 Cash Accounts Receivable Supplies Prepaid Insurance. Equipment Accumulated Depreciation-Equipment. Accounts Payable Salaries and Wages Payable.... Unearned Rent Revenue Common Stock 2,500 16,000 $ 4,800 5,800 1,100 600 15,000 5,600 Retained Earnings. Dividends.. Service Revenue Rent Revenue 34,600 14,400 Salaries and Wages Expense Supplies Expense Rent Expense.. 18,100 1,800 12,000...
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...
Outdoor Paints Company uses the direct method for preparing its statement of cash flow. Outdoor reports the following information regarding 2019. From the income statement: Sales Revenues, $270,000 Cost of Goods Sold, $213,000 Operating Expenses, $31,000 From the balance sheet: Beginning Balance $15,000 24,200 Accounts Receivable Merchandise Inventory Accounts Payable Accrued Liabilities Ending Balance $18,200 18,300 13,800 1,600 6,900 4,700 O A. $35,700 OB. $31,000 OC. $34,100 OD. $29.400 Oregon Company is preparing its satement of cash flows using the...
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