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Bref Exercise 12-05 The income for More Inc. for 2022 For 2022 recen s 595.000, and...
Exercise 12-05 The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022,...
Exercise 12-05 The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $183,600 Depreciation expense was $32,400 2022 2021 Current assets $126,000 $118,800 Cash 106,800 96,000 Accounts receivable 201,600 206,400 Inventory 32,400 26,400 Prepaid expenses $456,000 $458,400 Total current assets Current liabilities Accrued expenses payable $18,000 $6,000 Accounts payable 102,000 110,400 $120,000 $116,400 Total current liabilities Prepare the net cash provided (used) by operating activities section...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets was $97,500, and the company incurred a loss on disposal of plant assets of $39,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g -15,000 or in parenthesis e.g. (15,000).) Sandhill Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets was $97,500, and the company incurred a loss on disposal of plant assets of $39,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g -15,000 or in parenthesis e.g. (15,000).) Sandhill Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile...
Exercise 12-3 Tamarisk, Inc. reported net income of $173,950 for 2017. Tamarisk, Inc. also reported depreciation...
Exercise 12-3 Tamarisk, Inc. reported net income of $173,950 for 2017. Tamarisk, Inc. also reported depreciation expense of $31,940 and a loss of S4,870 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,030 for the year, a $16,080 increase in accounts payable, and a $3,650 increase in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash...
Brief Exercise 13-5 The net income for Metz Co. for 2017 was $264,300. For 2017, depreciation...
Brief Exercise 13-5 The net income for Metz Co. for 2017 was $264,300. For 2017, depreciation on plant assets was $65,600, and the company incurred a loss on disposal of plant assets of $14,300. Compute net cash provided by operating activities under the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Metz Co. Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to <>
Brief Exercise...
Exercise 12-4 Metlock, Inc. reported net income of $193,800 for 2019. Metlock also reported depreciation expense...
Exercise 12-4 Metlock, Inc. reported net income of $193,800 for 2019. Metlock also reported depreciation expense of $40,700 and a loss of $5,800 on the disposal of plant assets. The comparative balance sheet shows decrease in accounts receivable of $15,400 for the year, a $17,400 increase in accounts payable, and a $4,500 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2019. Use the indirect method. (Show amounts that decrease cash flow with...
Brief Exercise 12-04 Ivanhoe Company reported net income of $1.80 million in 2022. Depreciation for the...
Brief Exercise 12-04 Ivanhoe Company reported net income of $1.80 million in 2022. Depreciation for the year was $288,000, accounts receivable decreased $630,000, and accounts payable decreased $504,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Ivanhoe Company Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to Click if you would like to Show Work for this question:...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for t...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100 Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
The net income for Splish Brothers Inc. for 2022 was $250,000. For 2022, depreciation on plant...
The net income for Splish Brothers Inc. for 2022 was $250,000. For 2022, depreciation on plant assets was $62,500, and the company incurred a loss on disposal of plant assets of $25,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company’s accounts.
Exercise 12-05 The current sections of Pronghorn Corp's balance sheets at December 31, 2021 and 2022, are presented here. Pronghorn Corp's net income for 2022 was $183,600 Depreciation expense was $32,400 2022 2021 Current assets $126,000 $118,800 Cash 106,800 96,000 Accounts receivable 201,600 206,400 Inventory 32,400 26,400 Prepaid expenses $456,000 $458,400 Total current assets Current liabilities Accrued expenses payable $18,000 $6,000 Accounts payable 102,000 110,400 $120,000 $116,400 Total current liabilities Prepare the net cash provided (used) by operating activities section...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets was $97,500, and the company incurred a loss on disposal of plant assets of $39,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g -15,000 or in parenthesis e.g. (15,000).) Sandhill Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile...
The net income for Sandhill Co. for 2022 was $390,000. For 2022, depreciation on plant assets was $97,500, and the company incurred a loss on disposal of plant assets of $39,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g -15,000 or in parenthesis e.g. (15,000).) Sandhill Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile...
Exercise 12-3 Tamarisk, Inc. reported net income of $173,950 for 2017. Tamarisk, Inc. also reported depreciation expense of $31,940 and a loss of S4,870 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,030 for the year, a $16,080 increase in accounts payable, and a $3,650 increase in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash...
Brief Exercise 13-5 The net income for Metz Co. for 2017 was $264,300. For 2017, depreciation on plant assets was $65,600, and the company incurred a loss on disposal of plant assets of $14,300. Compute net cash provided by operating activities under the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Metz Co. Statement of Cash Flows-Indirect Method $ Adjustments to reconcile net income to <>
Brief Exercise...
Exercise 12-4 Metlock, Inc. reported net income of $193,800 for 2019. Metlock also reported depreciation expense of $40,700 and a loss of $5,800 on the disposal of plant assets. The comparative balance sheet shows decrease in accounts receivable of $15,400 for the year, a $17,400 increase in accounts payable, and a $4,500 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2019. Use the indirect method. (Show amounts that decrease cash flow with...
Brief Exercise 12-04 Ivanhoe Company reported net income of $1.80 million in 2022. Depreciation for the year was $288,000, accounts receivable decreased $630,000, and accounts payable decreased $504,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) Ivanhoe Company Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to Click if you would like to Show Work for this question:...
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100 Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to
Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million...
Kennedy, Inc. reported the following data: $159,518 16,439 Net Income Depreciation expense Loss on disposal of equipment Gain on sale of building Increase in accounts receivable Decrease in accounts payable (9,454) 20,113 9,064 (2,402) Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
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