Homework Answers
Ans :
| Cash flow from operating activity | |
| Net Income | 8000 |
| Adjustment to reconcile net income to cash provided by operating activities | |
| Depreciation | 7300 |
| Change in current assets and current liabilities | |
| Decrease in account receivable | 12000 |
| Increase in salaries payable | 9000 |
| Decrease in other accrued liabilities | -4000 |
| 17000 | |
| Cash flow from operating activity (8000+7300+17000) | 32300 |
Bought small machine - This forms part of investing activity. So no adjustment is required in operating activity section .
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New Vision Company completed its income statement and balance sheet for 2017 and provided the following...
New Vision Company completed its income statement and balance sheet and provided the following information: $67,700...
New Vision Company completed its income statement and balance sheet and provided the following information: $67,700 Service Revenue Expenses: Salaries and Wages Depreciation Utilities office $43,700 7,470 6,850 1,870 59,890 7,810 Net Income $13,700 5,850 9,850 4,675 Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable...
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.
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 $...
Parra Company completed its income statement and comparative balance sheet for the current year and provided...
Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 66,700 Expenses: Salaries $ 41,900 Depreciation 5,600 Utilities 5,200 Loss on sale of equipment 900 53,600 Net income $ 13,100 Partial Balance Sheet Current Year Prior Year Accounts receivable $ 12,400 $ 24,900 Salaries payable 19,300 10,300 Other accrued liabilities 5,400 9,600 Land 51,900 58,600 Required: Present the operating activities section of the statement of cash...
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 $ 270,164 Depreciation expense 47,328 Rent expense 53, 244 Amortization expenses-Patents 5,916 Utilities expense 21,692 $1,972,000 966,280 1,005,720 Gain on sale of equipment Net income 398,344 607,376 7,888 $ 615,264 Accounts receivable Inventory $10,600 increase 13,825 increase Accounts payable salaries payable $13,350 decrease 5,650 decrease Prepare the operating activities section...
seperate questions Hampton company reports the following information for its recent calendar year. Income Statement Data...
seperate questions
Hampton company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data Sales $71,000 Accounts receivable increase $10, eee Expenses Inventory decrease 3, see Cost of goods sold 41,00 Salaries payable increase 60e Salaries expense 13, see Depreciation expense 8, eee Net income $ 9, eee rd K Required: Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method. (Amounts to be deducted...
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data...
Ritz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable decrease $100, 500 Depreciation expense 49,489 Inventory decrease 43,500 Amortization expense 8,900 Prepaid expenses increase 7,000 Gain on sale of plant 7,600 Accounts payable decrease 9,700 assets Salaries payable increase 2,400 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31 (Amounts to be deducted should be...
Required information Lansing Company's 2017 income statement and selected balance sheet data (for current assets and...
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The 2017 comparative balance sheet and income statement of Summer Time Hardware Corp. follow. Summer Time...
The
2017 comparative balance sheet and income statement of Summer Time
Hardware Corp. follow. Summer Time had no non-cash investing and
financing transactions during 2017. During the year, there were no
sales of land or equipment, no issuance of notes payable, and no
repurchase of shares transactions.
The 2017 comparative balance sheet and income statement of Summer Time Hardware Corp. follow. Summer Time had no non-cash investing and financing transactions during 2017. During the year, there were no sales of...
New Vision Company completed its income statement and balance sheet and provided the following information: $67,700 Service Revenue Expenses: Salaries and Wages Depreciation Utilities office $43,700 7,470 6,850 1,870 59,890 7,810 Net Income $13,700 5,850 9,850 4,675 Decrease in Accounts Receivable Paid cash for equipment Increase in Salaries and Wages Payable Decrease in Accounts Payable Required: 1. Present the operating activities section of the statement of cash flows for New Vision Company using the direct method. Assume that Accounts Payable...
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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seperate questions
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The
2017 comparative balance sheet and income statement of Summer Time
Hardware Corp. follow. Summer Time had no non-cash investing and
financing transactions during 2017. During the year, there were no
sales of land or equipment, no issuance of notes payable, and no
repurchase of shares transactions.
The 2017 comparative balance sheet and income statement of Summer Time Hardware Corp. follow. Summer Time had no non-cash investing and financing transactions during 2017. During the year, there were no sales of...
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