Homework 5 -- Statement of Cash Flows I. Calculating Cash Flow. Kaplan Company's income statement for...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $139,400. Depreciation recorded on store equipment for the year amounted to $23,000. 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 $56,460 $51,940 Accounts receivable (net) 40,480 38,380 Merchandise inventory 55,270 58,430 Prepaid expenses 6,210 4,930 Accounts payable (merchandise creditors) 52,900 49,140 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $286,100. Depreciation recorded on equipment and a building amounted to $85,500 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 $78,680 $81,830 99,770 100,980 196,700 173,970 Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable 10,940 11,540...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. 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 $45,240 $41,170 Accounts receivable (net) 32,440 30,420 Merchandise inventory 44,290 46,320 Prepaid expenses 4,980 3,910 Accounts payable (merchandise creditors) 42,390 38,950 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $146,000. 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 $59,420 $54,070 Accounts receivable (net) 42,600 39,960 Merchandise inventory 58,170 60,830 Prepaid expenses 6,540 5,140 Accounts payable (merchandise creditors) 55,680 51,150 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,500 $46,870 Accounts receivable (net) 36,930 34,640 Merchandise inventory 50,420 52,730 Prepaid expenses 5,670 4,450 Accounts payable (merchandise creditors) 48,260 44,340 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $138,100. Depreciation recorded on store equipment for the year amounted to $22,800. 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 $54,000 $49,680 Accounts receivable (net) 38,720 36,710 Merchandise inventory 52,870 55,890 Prepaid expenses 5,940 4,720 Accounts payable (merchandise creditors) 50,600 47,000 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,400. Depreciation recorded on store equipment for the year amounted to $21,200. 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 $51,360 $47,250 Cash 36,830 34,920 Accounts receivable (net) Merchandise inventory 53,160 50,280 5,650 4.490 Prepaid expenses Accounts payable (merchandise creditors) 48,120 44,700 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $154,800. Depreciation recorded on store equipment for the year amounted to $25,500. 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 $60,990 $55,500 Accounts receivable (net) 43,730 41,010 Merchandise inventory 59,710 62,440 Prepaid expenses 6,710 5,270 Accounts payable (merchandise creditors) 57,150 52,500 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. 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 $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...