1.2.Dividends in the amount of $6,000 were declared and paid during 2025.Depreciation expense and amortization expense are included in operating expenses.3.No unrealized gains or losses have occurred on the investments during the year.4.Equipment that had a cost of $20,200 and was 70% depreciated was sold during 2025.Additional information:Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.) (Show amounts in the investingand financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)MONTY INC.STATEMENT OF CASH FLOWS>EA$$St

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Answered: 1. 2. Dividends in the amount of $6,000…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 6EA: Use the following information from Birch Companys balance sheets to determine net cash flows from...

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Use the following information from Dubuque Companys financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Given the following excerpt from the Statement of Cash Flows under Operating Activities, how much of the following accounts have changed during 2021 due to operating activities? (in millions; Your answers may be positive or negative. Put a positive number for the increase and a negative number for the decrease. Use a minus (-) sign to indicate a negative number.) Cash flow from changes in current assets and liabilities, excluding the effects of divestitures: Receivables 27.9 Inventories (354.7) Prepaid expenses and other current assets Accounts payable (42.7) 343.1 Other current liabilities Changes in current assets and liabilities (129.5) (155.9) Account Amount ($) Change in Accounts receivable 2$ Change in Inventories 24 Change in Accounts payable 24
Prepare the company's statement of cash flows indirect method for the year ended December 31, 2024. Assume investments are purchased with cash. (Use a minus sign or parentheses for amounts that result in a decrease in cash. It a box is not used in the statement leave the box empty; do not select a label or enter a zero.) More info Superior calculated the following amounts for 2024: • Acquisition value of plant assets, $89,000. • Payment of dividends, $102,000. • Payment of long-term notes payable, $3,000. • Cash receipt from issuance of common stock. $15.000. Superior Exercise disposed of plant assets at book value. The cost and accumulated depreciation of the disposed asset was $43 500. No cash was received upon disposal
Portions of the financial statements for Peach Computer are provided below. Net sales Expenses: PEACH COMPUTER Income Statement For the year ended December 31, 2024 Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable $1,100,000 610,000 55,000 45,000 PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $107,000 45,500 80,000 3,500 50,000 5,500 2023 $87,500 51,500 57,500 6,000 39,500 12,500 $1,925,000 1,810,000 $115,000 Increase (I) or Decrease (D) $19,500 (I) 6,000 (D) 22,500 (I) 2,500 10,500 7,000
Sandhill Inc. had the following balance sheet at December 31, 2024. Sandhill Inc. Balance Sheet December 31, 2024 Cash $23,230 Accounts payable $33,230 Accounts receivable 24,430 Notes payable (long-term) 44,230 Investments 35,230 Common stock 103,230 Plant assets (net) 81,000 Retained earnings 26,430 Land 43,230 $207,120 $207,120 During 2025, the following occurred. 1. 2. Sandhill Inc. sold part of its debt investment portfolio for $16,408. This transaction resulted in a gain of $4,808 for the firm. The company classifies these investments as available-for-sale. A tract of land was purchased for $16,230 cash. 3. Long-term notes payable in the amount of $17,408 were retired before maturity by paying $17,408 cash. 4. An additional $21,408 in common stock was issued at par. 5. Dividends of $9,608 were declared and paid to stockholders. 6. Net income for 2025 was $35,230 after allowing for depreciation of $12,408. 7. Land was purchased through the issuance of $38,230 in bonds. 8. At…
Presented below is a statement of cash flows for Plum, Incorporated, for the year ended December 31, 2023. Also shown is a partially completed comparative balance sheet as of December 31, 2023 and 2022 PLUM INCORPORATED Statement of Cash Flows For the year ended December 31, 2023 Cash flows from operating activities: Net income $ 27,000 Add (deduct) items not affecting cash: Depreciation expense Decrease in accounts receivable Increase in inventory Increase in short-term debt Increase in notes payable Decrease in accounts payable Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Purchase of buildings Net cash used by investing activities Cash flows from financing activities: Cash used for retirement of long-term debt Proceeds from issuance of common stock Payment of cash dividends on common stock Net cash used by financing activities Net decrease in cash for the year Required: a. Complete the December 31, 2023 and 2022 balance sheets.…
Use the following information from Dubuque Company’s financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018.
Prepare a statement of cash flows for 2022 using the indirect method. (Show the amounts that decrease cash flow either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Martinez Corp., using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Peugeot S.A. reports the following financial information for the current year ended December 31 (euros in millions). Prepare its statement of cash flows under the indirect method. Hint: Each line item below is titled, and any necessary parentheses added, as it is reported in the statement of cash flows. Net income (loss) €1,944 Depreciation, amortization, and impairment 2,497 Losses on disposals and other . . . . . . . . . . . . . . . . . . . 94 Net decrease in current operating assets & other 1,935 Cash paid for dividends . (14) Cash from issuances of shares € 327 Cash paid for other financing activities . (1,995) Cash from disposal of plant assets & intangibles . 243 Cash paid for plant assets, intangibles & other (2,793) Cash and cash equivalents, Dec. 31, prior year . 11,292
The income statement of Swifty Company is presented here Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending Inventory Total cost of goods sold Cross profit Operating expenses Selling expenses SWIFTY COMPANY Income Statement For the Year Ended November 30, 2022 Administrative expenses Net income Additional information: 1 2 3. 5. $1,920,000 4,485,300 6,405,300 1,614,800 450,000 631.100 $7,407,400 4,790,500 2,616,900 1,081,100 $1.535,800 Accounts receivable decreased $378.900 during the year, and inventory decreased $305.200 Prepaid expenses increased 5183,800 during the year. Accounts payable to suppliers of inventory decreased $338,400 during the year 4 Accrued expenses payable decreased $106,900 during the year. Administrative expenses include depreciation expense of $87.600. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Swifty Company. using the indirect method. (Show…
Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders Equity Current liabilities: Accounts payable Interest payable PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: Common stock Retaibed earnings Total liabilities and stockholders' equity Additional information for 2024 1. Net Income is $71000 68 2024 $113,500 78,800 97,000 4,400 490,000 798,000 (430,000) $1,151,700 $101,000 6,300 8,400 105,000 710,000 221,000 $1,151,700 Next > 2023 $125,600 93,000 81,800 2,200 490,000 680,000 (272,000) $1,200,600 $86,800 12,600 5,200 210,000 710,000 176,000 $1,200,600

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