Quiz 21

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Accounting

Q8

1 2:01:48 look int rences Exercise 12-1 (Algo) Indirect: Classifying Cash flows LO C1 Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the a column(s). Note: More than one column may be used. a. Purchased treasury stock with cash b. Accounts receivable decreased in the year c. Issued bonds in return for cash d. Inventory increased in the year e. Recorded depreciation expense 1. Purchased land by issuing common stock g. Prepaid expenses increased in the year h. Purchased a building with cash 1. Sold merchandise to customer for cash j. Received a cash dividend from investment Operating Investing Activities Activities X Statement of Cash Flows [x Financing Activities Noncash Investing & Financing Activities Not Reported on Statement or in Notes

PB4. LO 16.3 Use the following information from Isthmus Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Dec. 31, 2018 Dec. 31, 2017 Cash Account Receivable Inventory Accounts Payable Salaries Payable $295,000 45,300 92,200 23,000 1,700 $259,000 48,700 91,000 26,300 1,500 Additional information: Net income 45,200 33,300 Depreciation expense

Exercise 12-1 (Algo) Indirect: Classifying Cash flows LO C1 Indicate where each item would appear on a statement of cash flows using the Indirect method by placing an X In the appropriate column(s). (More than one column may be used.) a. Paid cash to settle long-term notes payable b. Inventory increased in the year c. Issued common stock for cash d. Accounts payable decreased in the year e. Income taxes payable increased in the year f. Retired bonds payable by issuing stock g. Sold merchandise to customer for cash h. Sold land in return for cash i. Received a cash dividend from investment j. Recorded depreciation expense X Operating Investing Activities Activities X X X X Answer is not complete. X Statement of Cash Flows > X Financing Activities X X X x Noncash Investing & Financing Activities X x Not Reported on Statement or in Notes

Prepare the cash flows for operating activity section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.

Q7

Q5

When preparing the operating section of the cash flow statement using the indirect method, which of the following financial statements or sections in the financial statement are used? O Long-term liabilities and stockholders' equity from the balance sheet. O Long-term assets from the balance sheet. O Income statement plus long-term assets from the balance sheet. O Income statement plus current assets and current liabilities from the balance sheet. ASUS f4 f5 f6 f7 [X f8 f9 f10 f11 %24 & 4. 5 7 Y G H. 因 6 近 F. 图

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EB5. LO 16.3 What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets? Accounts payable, beginning of year Accounts payable, end of year Salaries payable, beginning of year Salaries payable, end of year $18,000 28,000 6,000 4,000

Adjust the Cash Balance We obtain the following 2020 forecasts of selected financial statement line items for Journey Company. 2019 Actual 2020 Est. $535,667 $559,772 50,725 46,945 261,998 233,178 38,688 38,688 43,618 (11,270) (41,323) $ millions Net Sales Marketable securities Long-term debt Treasury stock (deducted from equity) Cash generated by operations Cash used for investing Cash used for financing Total net change in cash Cash at beginning of period Cash at end of period Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. a. Does forecasted cash deviate from the normal level for this company? Calculate the company's normal cash level as a percentage of sales. Normal cash as a % of sales 0% $ Using the answer above, compute what should be the normal cash balance for FY2020. Normal cash balance for FY2020 0 b. Is the…

What is the amount of cash to reconcile using the direct method on the Statement of Cash Flows?      20XX    20YY    Change Cash   600,000    2,000    598,000

Help Save & Exit Which of the following items do we report in the statement of cash flows using the direct method? Multiple Choice 39 19 Depreciation expense. Cash paid to suppliers. Gain on sale of an asset. Loss on sale of an asset. C raw hp

Which cells have the wrong formula to calculate some items associated with the cash flows from operations? 1 2 3 4 5 6 7 8 9 10 11 12 13 A B Assets Accounts Receivable Liabilities and Owner's Equity Accounts Payable Other Current Liabilities Cash Flows from Operations Change in Accounts Receivable Change in Inventory Change in Accounts Payable Change in Other Current Liabilities a. Cells C9, C10, and C11 b. Cells C8 and C10 O c. Cells C8, C9, and C10 O d. Cells C9 and C11 C 2021 275000 525000 230800 115700 =D2-C2 =C3-D3 =C5-D5 =D6-C6 D 2020 403800 601400 180600 95400 E

Subject :- Accounting

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12.Cash balance, November 1,2019 13. Cash balance November 30,2019

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XYZ stock price and dividend history are as follows: Year 2018 2019 2020 2021 Beginning-of- Year Price $ 120 145 115 120 Dividend Paid at Year-End $ 3 3 3 3 An investor buys six shares of XYZ at the beginning of 2018, buys another two shares at the beginning of 2019, sells one share at the beginning of 2020, and sells all seven remaining shares at the beginning of 2021. Required: a. What are the arithmetic and geometric average time-weighted rates of return for the investor? (Do not round intermediate calculations. Round your answers to 2 decimal places.) X Answer is complete but not entirely correct. Arithmetic time-weighted average returns Geometric time-weighted average returns 3.89 % 1.07 X %

Kamal Co. has an average collection period (ACP) of 30 days and an operating cycle of 170 days. It has a policy of keeping at least RO 15,000 on hand as a minimum cash balance, and has a beginning cash balance for the first quarter of RO 20,000. Beginning receivables for the first quarter amount to RO 30,000. Sales for the first, second and the third quarters are expected respectively to be RO 100,000; RO120,000; and RO 150,000. The purchases amount represents 50% of the next quarter's forecasted sales. The quarterly wages and other expenses is RO 7,000. The capital expenditure occurs in the second quarter and equals to RO 15, 000. The accounts payable period is 45 days. The beginning accounts payable is RO 10,000. a. What are cash collections in the first and second quarters? Q1 Q2 Beginning Receivables Sales Cash collections Ending receivables