Determine the net cash provided by operating activities using direct method
The Cribbets Company uses the direct method in determining net cash provided by operating activities. During the year operating expenses were $260,000, prepaid expenses increased $20,000, and accrued expenses payable increased $30,000. Cash payments for operating expenses were:
a. $210,000.
b. $310,000.
c. $270,000.
d. $250,000.
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Determine the net cash provided by operating activities using direct method
Exercise 14-2 Net Cash Provided by Operating Activities (L014-2] For the just completed year, Hanna Company...
Exercise 14-2 Net Cash Provided by Operating Activities (L014-2] For the just completed year, Hanna Company had net Income of $35,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 30,000 $ 40,000 $ 125,00 $ 106,00 $ 213,00...
1. Use the indirect method to determine the net cash provided by operating activities for the...
1. Use the indirect method to determine the net cash provided by
operating activities for the year and prepare a statement of cash
flows for the year.
The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders' Equity Accounts Accounts payable Asset and Contra-Asset Accounts $ 35 D $ 39 I $ 88 D $ 34 I $ 36 D $ 620 I $ 127 I Cash and cash equivalents S107 I $ 39...
2. Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000;...
2.
Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000; its income taxes were $46,000; its capital expenditures were $95,400; and its cash dividends were $29,400. Required: Determine the company's free cash flow. (Negative amounts should be indicated by a minus sign.) Free cash flow Cridberg Corporation's selling and administrative expenses for last year totaled $296,000. During the year the company's prepaid expense account balance increased by $36,000 and accrued liabilities decreased by $30,000....
Cash Flows from Operating Activities-Direct Method The income statement for Rhino Company for the current year...
Cash Flows from Operating Activities-Direct Method The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows: $445,500 154,000 $291,500 Sales Cost of merchandise sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses Income before income tax Income tax expense $38,500 153,780 $137.720 39,600 Net Income $98,120 End of Year Beginning of Year Accounts receivable (net) $36,300...
Exercise 13-2 Net Cash Provided by operations activities LO13-2 I dont know what else it needs...
Exercise 13-2 Net Cash Provided by operations activities
LO13-2
I dont know what else it needs but please help me much
appreiciated.
Check my work mode : This shows what is correct or incorrect for the work you have completed so For the just completed year, Hanna Company had net income of $35,000. Balances in the company's curre accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets:...
Cash Flows from Operating Activities–Direct Method The income statement for Rhino Company for the current year...
Cash Flows from Operating Activities–Direct Method The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows: $445,500 (154,000) $291,500 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses $38,500 115,280 Income before income tax (153,780) $137,720 (39,600) $98,120 Income tax expense Net income End of Year Beginning of Year Accounts receivable (net)...
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow...
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $201,300 on its statement of cash flows for the year ended December 31. The following information was reported in the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method: Decrease in income taxes payable Decrease in inventories $4,500 11,200 17,300 7,800 Depreciation Gain on sale of investments Increase in accounts payable 3,100 Increase...
1. Use the indirect method and compute the net cash provided by operating activities for the...
1.
Use
the indirect method and compute the net cash provided by operating
activities for the year 2014.
2. prepare a statement of cash flows for the year
2014.
3. compute the the free cash flow for the year 2014.
4. explain why cas declined so sharply during the year
2014.
Foxbore Company Income Statement For the Period January 1, 2014 through December 31, 2014 Sales Cost of Goods Sold Gross Margin Selling and Administrative Expenses Net Operating Income Gain...
48. In calculating net cash provided by operating activities using the indirect method, an increase in...
48. In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is: a) deducted from profit. b) added to profit. c) ignored because it does not affect profit. d) ignored because it does not affect expenses. 49. Which of the following adjustments to convert profit to net cash provided by operating activities is correct? Add to Profit Deduct from Profit a) Accounts Receivable b) Prepaid Expenses c) Inventory d) Income...
Cash flows from operating activities-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Sales...
Cash flows from operating activities-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Sales $445,100.00 2 Cost of merchandise sold 157,900.00 5 Gross profit $287,200.00 Operating expenses: Depreciation expense $38,300.00 116,190.00 Other operating expenses Total operating expenses 154,490.00 Income before income tax $132,710.00 Income tax expense 40,590.00 $92,120.00 10 Net income Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions The balances of selected accounts at the beginning and the end of the current year are as follows:...
Exercise 14-2 Net Cash Provided by Operating Activities (L014-2] For the just completed year, Hanna Company had net Income of $35,000. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $ 30,000 $ 40,000 $ 125,00 $ 106,00 $ 213,00...
1. Use the indirect method to determine the net cash provided by
operating activities for the year and prepare a statement of cash
flows for the year.
The following changes took place last year in Pavolik Company's balance sheet accounts: Liabilities and Stockholders' Equity Accounts Accounts payable Asset and Contra-Asset Accounts $ 35 D $ 39 I $ 88 D $ 34 I $ 36 D $ 620 I $ 127 I Cash and cash equivalents S107 I $ 39...
2.
Clayborn Corporation's net cash provided by operating activities was $119,900; its net income was $105,000; its income taxes were $46,000; its capital expenditures were $95,400; and its cash dividends were $29,400. Required: Determine the company's free cash flow. (Negative amounts should be indicated by a minus sign.) Free cash flow Cridberg Corporation's selling and administrative expenses for last year totaled $296,000. During the year the company's prepaid expense account balance increased by $36,000 and accrued liabilities decreased by $30,000....
Cash Flows from Operating Activities-Direct Method The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows: $445,500 154,000 $291,500 Sales Cost of merchandise sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses Income before income tax Income tax expense $38,500 153,780 $137.720 39,600 Net Income $98,120 End of Year Beginning of Year Accounts receivable (net) $36,300...
Exercise 13-2 Net Cash Provided by operations activities
LO13-2
I dont know what else it needs but please help me much
appreiciated.
Check my work mode : This shows what is correct or incorrect for the work you have completed so For the just completed year, Hanna Company had net income of $35,000. Balances in the company's curre accounts at the beginning and end of the year were as follows: December 31 End of Beginning Year of Year Current assets:...
Cash Flows from Operating Activities–Direct Method The income statement for Rhino Company for the current year ended June 30 and balances of selected accounts at the beginning and the end of the year are as follows: $445,500 (154,000) $291,500 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Other operating expenses Total operating expenses $38,500 115,280 Income before income tax (153,780) $137,720 (39,600) $98,120 Income tax expense Net income End of Year Beginning of Year Accounts receivable (net)...
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow from operating activities of $201,300 on its statement of cash flows for the year ended December 31. The following information was reported in the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method: Decrease in income taxes payable Decrease in inventories $4,500 11,200 17,300 7,800 Depreciation Gain on sale of investments Increase in accounts payable 3,100 Increase...
1.
Use
the indirect method and compute the net cash provided by operating
activities for the year 2014.
2. prepare a statement of cash flows for the year
2014.
3. compute the the free cash flow for the year 2014.
4. explain why cas declined so sharply during the year
2014.
Foxbore Company Income Statement For the Period January 1, 2014 through December 31, 2014 Sales Cost of Goods Sold Gross Margin Selling and Administrative Expenses Net Operating Income Gain...
48. In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is: a) deducted from profit. b) added to profit. c) ignored because it does not affect profit. d) ignored because it does not affect expenses. 49. Which of the following adjustments to convert profit to net cash provided by operating activities is correct? Add to Profit Deduct from Profit a) Accounts Receivable b) Prepaid Expenses c) Inventory d) Income...
Cash flows from operating activities-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Sales $445,100.00 2 Cost of merchandise sold 157,900.00 5 Gross profit $287,200.00 Operating expenses: Depreciation expense $38,300.00 116,190.00 Other operating expenses Total operating expenses 154,490.00 Income before income tax $132,710.00 Income tax expense 40,590.00 $92,120.00 10 Net income Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions The balances of selected accounts at the beginning and the end of the current year are as follows:...
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