am.111. Apex CompanyOperating activities:Net incomeStatement of Cash Flows-Indirect Method.Adjustments to convert net income to cash basis:Depreciation.Increase in accounts receivable$ 41,200Increase in inventory$ 20,900(61,300)(26,400)Decrease in prepaid expenses9,500Increase in accounts payable54,400Decrease in accrued liabilities(11,000)Increase in income taxes payable4,200(9,700)Net cash provided by (used in) operating activities31,500Investing activities:Proceeds from the sale of equipment14,500Loan to Thomas Company(41,500)Additions to plant and equipment(120,500)Net cash provided by (used in) investing activities(147,500)Financing activities:Increase in bonds payable.89,100Increase in common stock38,700Cash dividends(28,200)Net cash provided by (used in) financing activitiesNet decrease in cash and cash equivalentsBeginning cash and cash equivalents99,600(16,400)29,000Ending cash and cash equivalents$ 12,600Required:Compute Apex Company's free cash flow for the current year. (Negative amount should be indicated by a minus sign.)Free cash flow$(118,700)

Step 1: Free cash flow can be calculated by subtracting the Capital expenditures and cash dividend…

Answered: Apex Company Operating activities: Net…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 14P

See similar textbooks

Similar questions

Statement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance sheets for 2019: Required: Prepare a statement of cash flows for Volusia using the indirect method to compute net cash flow from operating activities.
Current Attempt in Progress Lee Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5180000 $3979520. $5180000. $6380480. $5706480. 704480 159000 337000 Lee should report cash provided by operating activities of
Cash Flows from Operating Activities—Indirect Method Indicate whether each of the following would be added to or deducted from net income in determining net cash flow from operating activities by the indirect method: a. Decrease in inventory b. Increase in accounts receivable c. Increase in accounts payable d. Loss on retirement of long-term debt e. Depreciation of fixed assets f. Decrease in notes receivable due in 60 days from customers g. Increase in salaries payable h. Decrease in prepaid expenses i. Amortization of patent j. Increase in notes payable due in 120 days to vendors k. Gain on disposal of fixed assets
The following information is available from the current period financial statements: Net income $112,044 Depreciation expense 22,976 Increase in accounts receivable 14,959 Decrease in accounts payable 16,749 The net cash flow from operating activities using the indirect method is:
The following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595) The net cash flows from operating activities using the indirect method is a.$126,307 b.$113,887 c.$66,591 d.$186,023
Subject: acounting
After-Tax Cash FlowsFor each of the following independent situations, compute the net after-tax cash flow amount by subtracting cash outlays for operating expenses and income taxes from cash revenue. The cash outlay for income taxes is determined by applying the income tax rate to the cash revenue received less the cash and noncash (depreciation) expenses. A B C Cash revenue received $92,000 $452,000 $222,000 Cash operating expenses paid 56,000 317,000 147,000 Depreciation on tax return 14,000 32,000 22,000 Income tax rate 40% 30% 20% Do not use negative signs with any of your answers below. A B C Cash revenue Answer Answer Answer Cash outlays: Operating expenses Answer Answer Answer Income taxes Answer Answer Answer Total cash outlays Answer Answer Answer Net after-tax cash flow Answer Answer Answer
Can you help me with increase in acccounts receivable l and decrease in wages payable?
Reporting Net Cash Flow from Operating Activities The following information is available for Cornelius Inc.: Selected Income Statement Information Amount Net income $52,000 Depreciation expense 11,300 Selected Balance Sheet Information Beginning Balance Ending Balance Accounts receivable $11,500 $17,650 Inventory 33,800 27,825 Accounts payable 15,900 24,600 Required: Prepare the net cash flows from operating activities using the indirect method. Use a minus sign to indicate any decreases in cash or cash flows. Cornelius Inc.Net Cash Flows from Operating ActivitiesUsing Indirect Method Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities: $- Select - - Select - - Select - - Select - Net cash provided by operating activities $fill in the blank 11
If Accounts receivable increase by R.O.100,000. Income reported the income statement for the year was R.O.2,800,000. Excluding of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is Select one: a. R.O.3,500,000b. R.O.2,800,000 c R.O.2,700,000 d. R.O.2,900,000
Please help me with show all calculation thanku

SEE MORE QUESTIONS

Recommended textbooks for you

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Financial Accounting: The Impact on Decision Make…

Accounting

ISBN:

9781305654174

Author:

Gary A. Porter, Curtis L. Norton

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS