Homework Answers
Answer:
Schedule showing the amount of cash Dunnsmore paid to suppliers in 2017:
| Cost of goods sold | $318,450 |
| Add: Increase in inventory (43,400-37,200) | $6,200 |
| Purchases | $324,650 |
| (Less): Increase in accounts payable (29,900-23,100) | ($6,800) |
| Cash paid to suppliers | $317,850 |
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Dunnsmore Company reported cost of goods sold of $318,450 on its 2017 income statement. Other information...
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2.
a. What net income would the company include on its statement of
cash flows?
b. How much depreciation would the company add to net income on
its statement of cash flows?
c. What is the amount and direction (+ or −) of the accounts
receivable adjustment to net income in the operating activities
section of the statement of cash flows?
d.
What does this adjustment represent?
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Using the information presented above, determine the amount of
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prepare schedules of cost of goods manufactured and cost of
goods sold and an income statement
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2.
a. What net income would the company include on its statement of
cash flows?
b. How much depreciation would the company add to net income on
its statement of cash flows?
c. What is the amount and direction (+ or −) of the accounts
receivable adjustment to net income in the operating activities
section of the statement of cash flows?
d.
What does this adjustment represent?
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