The following income statement and information about changes in
noncash current assets and current liabilities are
reported.
Changes in current asset and current liability accounts for the year that relate to operations follow.
Required:
Prepare only the cash flows from operating activities section of
the statement of cash flows using the indirect method.
(Amounts to be deducted should be indicated with a minus
sign.)
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The following income statement and information about changes in noncash current assets and current liabilities are...
The following income statement along with additional year-end information about changes in noncash current assets and...
The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expense-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 $ 481,540 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable $30,500 increase Inventory 25,000...
The following income statement and information about changes in noncash current assets and current liabilities are...
The following income statement and information about changes in noncash current assets and current liabilities are reported. SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales $2,047,000 Cost of goods sold 1,003,030 Gross profit 1,043,970 Operating expenses Salaries expense $280,439 Depreciation expense 49,128 Rent expense 55,269 Amortization expenses–Patents 6,141 Utilities expense 22,517 413,494 630,476 Gain on sale of equipment 8,188 Net income $638,664 Changes in current asset and current liability accounts for the year that relate to operations...
Exercise 16-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional...
Exercise 16-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end Information is provided. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 481,540 Gain on sale of equipment Net income $ Accounts receivable Inventory $30,500 increase 25,000 increase Accounts payable Salaries...
I have no idea what I am missing. Thank you for your help in advance! The...
I have no idea what I am missing. Thank you for your help in
advance!
The following Income statement and Information about changes in noncash current assets and current liabilities are reported. $1,828,eee 991, eee 837,000 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 Gain on sale of equipment Net income 361,660 475,340 6,200...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense $1,828,000 991,800 837,000 44,20€ 18,125 361,660 475, 340 6.200 Gain on sale of equipment Net income $ 481, 540 Accounts receivable Inventory $30, 500 increase 25,900 increase Accounts payable salaries payable $12,500 decrease 3,508 decrease Prepare the operating activities...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable increase $40,000 Depreciation expense 80,000 Prepaid expenses decrease 12,000 Gain on sale of machinery...
Use the following income statement and information about changes in non-cash current assets and current liabilities...
Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method. (Indicate any loss, cash outflow or deduction in cash with a minus sign.) Kelly Gold Inc. Income Statement For Year Ended May 31, 2017 Sales Cost of goods sold $2,820 1,424 $1,396 Gross profit Operating expenses: Depreciation expense Other expenses $ 224 1,110 Total operating expenses Loss on sale of long-term investment...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and information...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and information about changes in noncash current assets and current liabilities $2,333,000 1,143,170 1,189,830 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $319,621 Depreciation expense 55,992 Rent expense 62,991 Amortization expenses-Patents 6,999 Utilities expense 25,663 471,266 718,564 9,332 727,896 Gain on sale of equipment Net income $ Changes in current asset and current...
Use the following income statement and information about changes in non-cash current assets and current liabilities...
Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method. (Indicate any loss, cash outflow or deduction in cash with a minus sign.) Kelly Gold Inc. Income Statement For Year Ended May 31, 2017 Sales Cost of goods sold $2,700 1,364 $1,336 Gross profit Operating expenses: Depreciation expense Other expenses $ 214 1,070 1,284 Total operating expenses Loss on sale of long-term...
Check my work 6 The following income statement along with additional year-end information about changes in...
Check my work 6 The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. eBook SONAD COMPANY Income Statement For Year Ended December 31 Sales Coat of goods sold Gross profit Operating expenses Salaries expense $222,625 Depreciation expense 39,000 Rent expense 43,875 Amortization expenses-Patents 4,875 Utilities expense 17,875 $1,625,000 796,250 828,750 Gain on sale of equipment Net income 328,250 500,500 6,500 $ 507,000 Additional Year-End Balance Sheet Data Accounts receivable...
The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expense-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 $ 481,540 Gain on sale of equipment Net income Additional Year-End Balance Sheet Data Accounts receivable $30,500 increase Inventory 25,000...
Exercise 16-4 Indirect: Cash flows from operating activities LO P2 The following income statement and additional year-end Information is provided. $1,828,000 991,000 837,000 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $ 245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 361,660 475, 340 6,200 481,540 Gain on sale of equipment Net income $ Accounts receivable Inventory $30,500 increase 25,000 increase Accounts payable Salaries...
I have no idea what I am missing. Thank you for your help in
advance!
The following Income statement and Information about changes in noncash current assets and current liabilities are reported. $1,828,eee 991, eee 837,000 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense 44,200 Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense 18,125 Gain on sale of equipment Net income 361,660 475,340 6,200...
The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $245,535 Depreciation expense Rent expense 49,600 Amortization expenses-Patents 4,200 Utilities expense $1,828,000 991,800 837,000 44,20€ 18,125 361,660 475, 340 6.200 Gain on sale of equipment Net income $ 481, 540 Accounts receivable Inventory $30, 500 increase 25,900 increase Accounts payable salaries payable $12,500 decrease 3,508 decrease Prepare the operating activities...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable increase $40,000 Depreciation expense 80,000 Prepaid expenses decrease 12,000 Gain on sale of machinery...
Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method. (Indicate any loss, cash outflow or deduction in cash with a minus sign.) Kelly Gold Inc. Income Statement For Year Ended May 31, 2017 Sales Cost of goods sold $2,820 1,424 $1,396 Gross profit Operating expenses: Depreciation expense Other expenses $ 224 1,110 Total operating expenses Loss on sale of long-term investment...
Exercise 12-4 Indirect: Cash flows from operating activities LO P2 The following income statement and information about changes in noncash current assets and current liabilities $2,333,000 1,143,170 1,189,830 SONAD COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $319,621 Depreciation expense 55,992 Rent expense 62,991 Amortization expenses-Patents 6,999 Utilities expense 25,663 471,266 718,564 9,332 727,896 Gain on sale of equipment Net income $ Changes in current asset and current...
Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method. (Indicate any loss, cash outflow or deduction in cash with a minus sign.) Kelly Gold Inc. Income Statement For Year Ended May 31, 2017 Sales Cost of goods sold $2,700 1,364 $1,336 Gross profit Operating expenses: Depreciation expense Other expenses $ 214 1,070 1,284 Total operating expenses Loss on sale of long-term...
Check my work 6 The following income statement along with additional year-end information about changes in noncash current assets and current liabilities are reported. eBook SONAD COMPANY Income Statement For Year Ended December 31 Sales Coat of goods sold Gross profit Operating expenses Salaries expense $222,625 Depreciation expense 39,000 Rent expense 43,875 Amortization expenses-Patents 4,875 Utilities expense 17,875 $1,625,000 796,250 828,750 Gain on sale of equipment Net income 328,250 500,500 6,500 $ 507,000 Additional Year-End Balance Sheet Data Accounts receivable...
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