Homework Answers
| Ans. | DVR Equipment, Inc. | |||
| Statement of Cash Flows (Partial) | ||||
| Year Ended December 31, 2018 | ||||
| Particulars | Amount | Amount | ||
| Cash flow from operating activities: | ||||
| Net income | $43,000 | |||
| Adjustments to reconcile Net income to Net cash | ||||
| provided by Operating Activities: | ||||
| Add: Depreciation expenses | $6,000 | |||
| Less: Increase in accounts receivable | -$6,000 | |||
| Less: Decrease in accounts payable | -$2,000 | -$2,000 | ||
| Net cash Provided by Operating Activities | $41,000 | |||
| *Explanations: | ||||
| *Increase in current liabilities and Decrease in current assets other than cash is added to Net Income. | ||||
| *Non cash & Non operating expenses are added to Net income. | ||||
| *Non cash & Non operating income are deducted from Net income. |
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$ 43,000 6,000 Income Statement: Net Income Depreciation Expense Balance Sheet: Increase in Accounts Receivable Decrease...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease)...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts payable $225,000 25,000 20,500 14,000 3,600 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 out flows, cash payments, decreases in cash, or any negative adjustments. Dorman Company Statement of Cash Flows Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating...
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...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data Net income $475,000 Accounts receivable increase 90,000 Prepaid expenses decrease 21,500 Accounts payable increase Wages payable decrease $53,600 Depreciation expense Gain on sale of machinery 14,700 6,600 2,200 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 indicated with a minus sign.) Statement of Cash...
Question 1 Laser World reports net income of $460,000. Depreciation expense is $31,000, accounts receivable increases...
Question 1
Laser World reports net income of $460,000. Depreciation expense is $31,000, accounts receivable increases $11,000, and accounts payable decreases $11,000. Calculate net cash flows from operating activities using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) LASER WORLD Statement of Net Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash flows from operating activities: ces Net cash flows from operating activities
thank you Laser World reports net income of $560,000. Depreciation expense is $41,000, accounts receivable increases...
thank you
Laser World reports net income of $560,000. Depreciation expense is $41,000, accounts receivable increases $11,000, and accounts payable decreases $21,000. Calculate net cash flows from operating activities using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) LASER WORLD Statement of Cash Flows (Partial) Cash flows from operating activities 1 $ 560,000 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Decrease in accounts...
$59.ee Annual Income Statement Data Sales Expenses: Cost of goods sold Wages expense Amortization expense Net...
$59.ee Annual Income Statement Data Sales Expenses: Cost of goods sold Wages expense Amortization expense Net Income Selected Year-End Balance Sheet Data Prepaid expenses increase Inventory increase Accounts payable decrease $ 3,10 1,30 points 10,9ee 1,900 $19, 2ee eBook Print Prepare the operating activities section of the statement of cash flows for GreenGarden using the indirect method (Amounts to be deducted should be indicated with a minus sign.) References Statement of Cash Flows (partial) Cash flows from operating activities Net...
The income statement and selected balance sheet information for Direct Products Company for the year ended...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21.000 2.000 9.000 4,500 1,900 1.800 1,400 Net Income $ 7.000 2016 $ 580 770 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance Salaries Payable...
The income statement and selected balance sheet information for Direct Products Company for the year ended...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: $ 48,600 Income Statement Sales Revenue Expenses : Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21,000 2,000 9,000 4,500 1,900 1,800 1,400 Net Income $ 7,000 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance 25 Salaries Payable...
The income statement and selected balance sheet information for Direct Products Company for the year ended...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: $48, 600 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21,000 2,000 9,000 4,500 1,900 1, 800 1,400 Net Income $ 7,000 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance Salaries Payable Utilities...
$ Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix 5,500 41,300 55,100 (27,600) 33,100 (60,700) Dots $ 138,000 11,000 27,500 (13,800) (30,400) 16,600 Skor $ 99,600 33,200 (5,500) 13,800 19,300 (11,000) For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Dots 138,000 Skor 99,600 $ $ Cash Flows from Operating Activities (Indirect)+ I...
Net income Depreciation expense Gain on disposal of equipment Decrease in accounts receivable Decrease in accounts payable $225,000 25,000 20,500 14,000 3,600 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 out flows, cash payments, decreases in cash, or any negative adjustments. Dorman Company Statement of Cash Flows Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating...
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...
Salud Company reports the following information. Selected Annual Income Statement Selected Year-End Balance Sheet Data Data Net income $475,000 Accounts receivable increase 90,000 Prepaid expenses decrease 21,500 Accounts payable increase Wages payable decrease $53,600 Depreciation expense Gain on sale of machinery 14,700 6,600 2,200 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 indicated with a minus sign.) Statement of Cash...
Question 1
Laser World reports net income of $460,000. Depreciation expense is $31,000, accounts receivable increases $11,000, and accounts payable decreases $11,000. Calculate net cash flows from operating activities using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) LASER WORLD Statement of Net Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash flows from operating activities: ces Net cash flows from operating activities
thank you
Laser World reports net income of $560,000. Depreciation expense is $41,000, accounts receivable increases $11,000, and accounts payable decreases $21,000. Calculate net cash flows from operating activities using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) LASER WORLD Statement of Cash Flows (Partial) Cash flows from operating activities 1 $ 560,000 Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Decrease in accounts...
$59.ee Annual Income Statement Data Sales Expenses: Cost of goods sold Wages expense Amortization expense Net Income Selected Year-End Balance Sheet Data Prepaid expenses increase Inventory increase Accounts payable decrease $ 3,10 1,30 points 10,9ee 1,900 $19, 2ee eBook Print Prepare the operating activities section of the statement of cash flows for GreenGarden using the indirect method (Amounts to be deducted should be indicated with a minus sign.) References Statement of Cash Flows (partial) Cash flows from operating activities Net...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21.000 2.000 9.000 4,500 1,900 1.800 1,400 Net Income $ 7.000 2016 $ 580 770 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance Salaries Payable...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: $ 48,600 Income Statement Sales Revenue Expenses : Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21,000 2,000 9,000 4,500 1,900 1,800 1,400 Net Income $ 7,000 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance 25 Salaries Payable...
The income statement and selected balance sheet information for Direct Products Company for the year ended December 31, 2017 are as follows: $48, 600 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense 21,000 2,000 9,000 4,500 1,900 1, 800 1,400 Net Income $ 7,000 Selected Balance Sheet Accounts 2017 Accounts Receivable $ 560 Merchandise Inventory 990 Accounts Payable 440 Prepaid Rent 25 Prepaid Insurance Salaries Payable Utilities...
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