Prepare the statement of cash flows of Dux Company for the year ended Dec. 31, 2021. Present cash flows from operating activities by the direct method
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given above for Dux Company. Additional information from Dux's accounting record is provided also. Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present cash flows from operating activites by the direct method.
I think I could figure out the statement of cash flows with an example in my book, but all of the additional information from the accounting record has me so confused. Im not sure how to incorporate the extra info. Mainly looking for direction on what to do with all of the additional information. Being able to fill out the statement of cash flows would be a plus!
Thanks in advance!
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Prepare the statement of cash flows of Dux Company for the year ended Dec. 31, 2021. Present cash flows from operating activities by the direct method
DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets...
DUX COMPANY
Comparative Balance Sheets
December 31, 2021 and 2020
($ in thousands)
2021
2020
Assets
Cash
$
33
$
20
Accounts receivable
48
50
Less: Allowance for uncollectible accounts
(4
)
(3
)
Dividends receivable
3
2
Inventory
55
50
Long-term investment
15
10
Land
70
40
Buildings and equipment
225
250
Less: Accumulated depreciation
(25
)
(50
)
$
420
$
369
Liabilities
Accounts payable
$
13
$
20
Salaries payable
2
5
Interest payable
4
2
Income...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 $ 49 46 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 24 53 (2) 2 3 65 21 85 273 (70)...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in e00s) 2018 2017 Assets $ 52 31 Cash Accounts receivable Less: Allowance for uncollectible accounts 78 Dividends receivable 4 Inventory 100 95 Long-term investment Land 54 50 95 85 Buildings and equipment Less: Accumulated depreciation 200...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 33 $ 20 Accounts receivable 48 50 Less: Allowance for uncollectible accounts (4 ) (3 ) Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and...
he comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are...
he comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 33 $ 20 Accounts receivable 48 50 Less: Allowance for uncollectible accounts (4 ) (3 ) Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company. Additional information from Dux’s accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 Assets Cash $ 33 $ 20 Accounts receivable 48 50 Less: Allowance for uncollectible accounts (4 ) (3 ) Dividends receivable 3 2 Inventory 55 50 Long-term investment 15 10 Land 70 40 Buildings and...
1. Prepare the statement of cash flows for the year ended December 31, 2017, using the...
1. Prepare the statement of cash flows for the
year ended December 31, 2017, using the indirect method.
(Amounts to be deducted should be
indicated by a minus sign.)
Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement are provided below, along with additional information. 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less: Accumulated Depreciation $ 6,000 1,000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250)...
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)...
Please help thank you Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's...
Please help thank you
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 in 000s) 2018 2017 Assets s 60 39 78 Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable 90 52 85 Inventory Long-term investment Land 46 95 75 Buildings and equipment Less: Accumulated...
Check my work 4 Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accou...
Check my work 4 Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also Part 2 of 2 DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ( in 000s) 10 2018 2017 points Assets Cash $ 36 26 Accounts receivable 57 53 Less: Allowance for uncollectible accounts Dividends receivable 85 eBook Inventory Long-term investment Land 80...
DUX COMPANY
Comparative Balance Sheets
December 31, 2021 and 2020
($ in thousands)
2021
2020
Assets
Cash
$
33
$
20
Accounts receivable
48
50
Less: Allowance for uncollectible accounts
(4
)
(3
)
Dividends receivable
3
2
Inventory
55
50
Long-term investment
15
10
Land
70
40
Buildings and equipment
225
250
Less: Accumulated depreciation
(25
)
(50
)
$
420
$
369
Liabilities
Accounts payable
$
13
$
20
Salaries payable
2
5
Interest payable
4
2
Income...
The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Dux Company Additional information from Dux's accounting records is provided also. DUX COMPANY Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) 2021 2020 $ 49 46 Assets Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable Inventory Long-term investment Land Buildings and equipment Less: Accumulated depreciation $ 24 53 (2) 2 3 65 21 85 273 (70)...
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 (s in e00s) 2018 2017 Assets $ 52 31 Cash Accounts receivable Less: Allowance for uncollectible accounts 78 Dividends receivable 4 Inventory 100 95 Long-term investment Land 54 50 95 85 Buildings and equipment Less: Accumulated depreciation 200...
1. Prepare the statement of cash flows for the
year ended December 31, 2017, using the indirect method.
(Amounts to be deducted should be
indicated by a minus sign.)
Heads Up Company was started several years ago by two hockey instructors. The company's comparative balance sheets and income statement are provided below, along with additional information. 2017 2016 Balance Sheet at December 31 Cash Accounts Receivable Equipment Less: Accumulated Depreciation $ 6,000 1,000 5,500 (1,500) $ 4,000 1,750 5,000 (1,250)...
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)...
Please help thank you
Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 in 000s) 2018 2017 Assets s 60 39 78 Cash Accounts receivable Less: Allowance for uncollectible accounts Dividends receivable 90 52 85 Inventory Long-term investment Land 46 95 75 Buildings and equipment Less: Accumulated...
Check my work 4 Required information The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux's accounting records is provided also Part 2 of 2 DUX COMPANY Comparative Balance Sheets December 31, 2018 and 2017 ( in 000s) 10 2018 2017 points Assets Cash $ 36 26 Accounts receivable 57 53 Less: Allowance for uncollectible accounts Dividends receivable 85 eBook Inventory Long-term investment Land 80...
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