E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2 The following information pertains to Peak...
E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2
The following information pertains to Peak Heights Company:
|
E12-7 Reporting Cash Flows from Operating Activities (Indirect Method) LO12-2 The following information pertains to Peak Heights Company:
Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.) |
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| Partial Balance Sheet | Current year | Prior year | ||
| Accounts receivable | $ | 10,100 | $ | 12,100 |
| Inventory | 12,200 | 8,600 | ||
| Salaries payable | 1,580 | 900 | ||
Required:
Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.)
|
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Homework Answers
| PEAK HEIGHTS COMPANY | |
| Statement of Cash Flows (Partial) | |
| Cash flows from operating activities: | |
| Net income | $14,625.00 |
| Adjustments to reconcile net income to net cash from operating activities | |
| Depreciation expense | $ 7,800.00 |
| Accounts receivable decrease | $ 2,000.00 |
| Inventory Increase | $ (3,600.00) |
| Salaries payable Increase | $ 680.00 |
| Net cash from operating activities | $21,505.00 |
Add Answer to:
E12-7 Reporting Cash Flows from Operating Activities (Indirect
Method) LO12-2
The following information pertains to Peak...
The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $85,400 Cost...
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I especially need help with part 2, thank you. E12-9 Reporting and Interpreting Cash Flows from Operating Activities fro...
I especially need help with
part 2, thank you.
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The following information pertains to Peak Heights Company: $ 86,000 Income Statement for Current Year Sales Expenses Cost of goods sold $ 51,775 Depreciation expense 7,500 Salaries expense 11,000 Net income 70,275 15,725 $ Current Prior year Partial Balance Sheet Accounts receivable Inventory Salaries payable year $ 11,000 13,700 1,680 $ 13,100 8,400 990 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. (List cash outflows as negative amounts.)...
E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO 12-2, LO 12-5) ports New Vision Company completed its income statement and balance sheet and provided the following information: Spoed 542,000 6.000 1,700 Salaries and Wages Depreciation Utilities Office Net Income Decrease in Accounts Receivable Dald cash for equipment Increase in Salaries and ages Payable Decrease in Accounts Payable 57.00 $9.es $12.00 5,000 Required: 1. Present the operating activities section of the statement of...
Cash Flows from Operating Activities - Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors)...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors) 66,470 69,070...
cash flows from operating activities - indirect method the net
income reported
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Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the income statement for the current year was $146,300. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,760 $52,220 Accounts receivable (net) 40,700 38,590 Merchandise inventory 55,570 58,750 6,240 4,960 Prepaid expenses Accounts payable (merchandise...
I especially need help with
part 2, thank you.
E12-9 Reporting and Interpreting Cash Flows from Operating Activities from an Analyst's Perspective (Indirect Method) [LO 12-2, LO 12-5] New Vision Company completed its income statement and balance sheet and provided the following information: $66,000 Service Revenue Expenses: Salaries and Wages Depreciation Utilities Office Net Income Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable $ 42,000 7,300 6,000 1,700 57,000 $...
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