Homework Answers
Answer : E = All of the above would appear in the operating section.
=========================================================================================
>> Decrease in inventory is added to net income in operating activity
>> Depreciation expenses is added to net income in operating activity
>> Increase of accounts payable is added to net income in operating activity.
>> Gain on Sale of Equipment is subtracted from net income in operating activity.
==========================================================================================
>> If Assets increase we should decrease from Net income.
>> If Assets decrease we should increase from Net income.
>> If Liability increase we should increase from Net income.
>> If Liability decrease we should increase from Net income.
==========================================================================================
Add Answer to:
Which of the following will NOT appear in the cash flows from operating activities? Select one: O a. Decrease in Invent...
The income statement and a schedule reconciling cash flows from operating activities to net incom...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold $148.60 89.30 59.30 Gross margin Salaries expense Insurance expense Depreciation expense Interest expense Gains and losses: $18.60 11.60 4.30 5.30 (39.80) Gain on sale of equipment Loss on sale of land 10.60 (1.60 28.50 Income before tax Income...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
4. The income statement and a schedule reconciling cash flows from operating activities to net income...
4. The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales $ 148.80 Cost of goods sold (89.40 ) Gross margin 59.40 Salaries expense $ 18.80 Insurance expense 11.80 Depreciation expense 4.40 Interest expense 5.40 (40.40 ) Gains and losses: Gain on sale of equipment 10.80 Loss on sale of land (1.80...
6. The following schedule relates the income statement with cash flows from operating activities, derived by...
6.
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. Some elements necessary to complete the schedule are missing. Required: Complete the schedule by determining each of the following missing elements: (Amounts to be deducted should be indicated with a minus sign.) Income Statement $ Sales Gain on sale of equipment Cash flows from Operating Activities Indirect Method Direct Method Net income Adjustments: 355 Decrease in accounts receivable...
The income statement and the cash flows from the operating activities section of the statement of...
The income statement and the cash flows from the operating activities section of the statement of cash flows are provided below for Syntric Company. The merchandise inventory account balance neither increased nor decreased during the reporting period. Syntric had no liability for insurance, deferred income taxes, or interest at any time during the period. $ 273.2 (179.8) 93.4 (65.7) SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales Cost of goods sold Gross margin...
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $151.40 Cost of goods sold (90.70) Gross margin 60.70 Salaries expense $21.40 Insurance expense 13.40 Depreciation expense 5.70 Interest expense 6.70 (47.20) Gains and losses: Gain on sale of equipment 13.40 Loss on sale of land (4.40) Income before tax 22.50 Income...
Question 1 Using the following data, prepare the operating activities section of a statement of cash...
Question 1 Using the following data, prepare the operating activities section of a statement of cash flows for Maximum Corporation for the year ended December 31, 20X6, using the indirect method. Increase in salary payable $1,50 Decrease in accounts payable 2,0000 Increase in accounts receivable 3,500 Net income 98,00 Decrease in inventory 5,800 Increase in prepaid expenses 1,200 Depreciation expense – equipment 5,000 Depreciation expense – building 7,500 Gain on sale of equipment 1,300 Loss on sale of patent 2,500
Question 1 Using the following data, prepare the operating activities section of a statement of cash...
Question 1 Using the following data, prepare the operating activities section of a statement of cash flows for Maximum Corporation for the year ended December 31, 20X6, using the indirect method. Increase in salary payable $1,50 Decrease in accounts payable 2,0000 Increase in accounts receivable 3,500 Net income 98,00 Decrease in inventory 5,800 Increase in prepaid expenses 1,200 Depreciation expense – equipment 5,000 Depreciation expense – building 7,500 Gain on sale of equipment 1,300 Loss on sale of patent 2,500
1. Statement of Cash Flows: Cash Flow from Operating Activities, Indirect Method. Indic whether each of...
1. Statement of Cash Flows: Cash Flow from Operating Activities, Indirect Method. Indic whether each of the following items would be added to net income, subtracted from net income or not included in the Operating Activity section. Use the letters "A" for added;' subtracted or "N" for not included in Operating Activity section. Answer S A) a. А. N Example: Increase in Accounts Receivable Decrease in Accounts Payable b. Decrease in Inventory c. Increase in Bond Payable d. Increase in...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2018 Sales Cost of goods sold $148.60 89.30 59.30 Gross margin Salaries expense Insurance expense Depreciation expense Interest expense Gains and losses: $18.60 11.60 4.30 5.30 (39.80) Gain on sale of equipment Loss on sale of land 10.60 (1.60 28.50 Income before tax Income...
Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $46,000 26,830 Gain on disposal of equipment 287,600 Net income The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $7,160 (4,080) Inventory Prepaid insurance (1,530) (4,860) Accounts payable Income taxes payable 1,530 Dividends payable 1,070 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
6.
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. Some elements necessary to complete the schedule are missing. Required: Complete the schedule by determining each of the following missing elements: (Amounts to be deducted should be indicated with a minus sign.) Income Statement $ Sales Gain on sale of equipment Cash flows from Operating Activities Indirect Method Direct Method Net income Adjustments: 355 Decrease in accounts receivable...
The income statement and the cash flows from the operating activities section of the statement of cash flows are provided below for Syntric Company. The merchandise inventory account balance neither increased nor decreased during the reporting period. Syntric had no liability for insurance, deferred income taxes, or interest at any time during the period. $ 273.2 (179.8) 93.4 (65.7) SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales Cost of goods sold Gross margin...
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2021 ($ in millions) Sales $151.40 Cost of goods sold (90.70) Gross margin 60.70 Salaries expense $21.40 Insurance expense 13.40 Depreciation expense 5.70 Interest expense 6.70 (47.20) Gains and losses: Gain on sale of equipment 13.40 Loss on sale of land (4.40) Income before tax 22.50 Income...
1. Statement of Cash Flows: Cash Flow from Operating Activities, Indirect Method. Indic whether each of the following items would be added to net income, subtracted from net income or not included in the Operating Activity section. Use the letters "A" for added;' subtracted or "N" for not included in Operating Activity section. Answer S A) a. А. N Example: Increase in Accounts Receivable Decrease in Accounts Payable b. Decrease in Inventory c. Increase in Bond Payable d. Increase in...
Most questions answered within 3 hours.
-
Work of 1950 J is done by stirring a perfectly insulated beaker
containing 75 g of...
asked 4 minutes ago -
The neighborhood kids set up an outdoor lemonade stand in
Maryland in June. They find that...
asked 6 minutes ago -
9. A company has a beginning inventory of 4,000 units. The
company estimates it will sell...
asked 19 minutes ago -
A patient goes to the doctor's office with symptoms of a urinary
tract infection and provides...
asked 21 minutes ago -
When responding to the essay questions, be sure to cite any
material you obtained from a...
asked 21 minutes ago -
The energy of an electron in a 2.25-eV-deep potential well is
1.50 eV.At what distance into...
asked 23 minutes ago -
Q1:Which three evolutionary innovations are present in land
plants (but not all land plants) that allowed...
asked 26 minutes ago -
Lymphosarcoma is
extremely rare. Risk factors for the disease are largely unknown.
What kind of study...
asked 28 minutes ago -
The solubility of benzoic acid in water is:
0.29g/100mL at 20°C
6.8g/100mL at 100°C
a) What...
asked 30 minutes ago -
Which food law was passed in 1996 and changed how pesticide
residues on food were regulated...
asked 48 minutes ago -
companies either hire outside programmers to
write_____ software or use their own internal developers.
asked 47 minutes ago -
A magnetic dipole m(t) = m_0*cos(ωt) can be
described as current density j(r,t) = −cm(t) ×...
asked 47 minutes ago