Homework Answers
Cash provided by operating activities
= Cash used by investing and financing activities - Net decrease in cash
= (55,500+41,500) - 13,500
= 83,500 provided
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Complete the cash flow from Operating Activities
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Sunland Corporation had the following activities in 2017. Concord Company’s income statement for the year ended...
Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
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Loss on sale of
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Income before income
taxes
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Income tax expense
40,000
Net income
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December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
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Complete the cash flow from Operating Activities
Additions to Net Income Decrease in accounts receivable Decrease in inventory Decrease in prepaid assets Increase in accounts payable Increase in accrued liabilities Deductions from Net Income Increase in accounts receivable Increase in inventory Increase in prepaid assets Decrease in accounts payable Decrease in accrued liabilities 450 $300 Cash Flow From Operating Activities Net Income $110 Net Cash Provided by Operating Activities 2011 80 115 Cash Flows From Investing Activities Income Statement For...
Analysis reveals that a company had a net increase in cash of $20,110 for the current year. Net cash provided by operating activities was $18,100; net cash used in investing activities was $10,050 and net cash provided by financing activities was $12,060. If the year-end cash balance is $24,150, the beginning cash balance was: o o o o o
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Sunland Corporation had the following activities in
2017.
Concord Company’s income
statement for the year ended December 31, 2017, contained the
following condensed information.
Service revenue
$843,000
Operating expenses (excluding
depreciation)
$622,000
Depreciation expense
60,000
Loss on sale of
equipment
26,000
708,000
Income before income
taxes
135,000
Income tax expense
40,000
Net income
$95,000
Concord’s balance sheet contained the following comparative data at
December 31.
2017
2016
Accounts receivable
$36,000
$55,000
Accounts payable
43,000
33,000
Income taxes payable
4,200
8,200...
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