esComparative Balance Sheetat December 31AssetsCash and cash equivalentsAccounts receivableInventoryPrepaid expensesTotal current assetsProperty, plant, and equipmentLess accumulated depreciationNet property, plant, and equipmentLong-term investmentsTotal assetsLiabilities and Stockholders'EquityAccounts payableAccrued liabilitiesIncome taxes payableTotal current liabilitiesBonds payableTotal liabilitiesCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders'equityWeaver CompanyIncome StatementFor This Year Ended December 31SalesCost of goods soldGross marginSelling and administrativeexpensesNet operating incomeNonoperating items:Gain on sale of investmentsLoss on sale of equipmentIncome before taxesIncome taxesNet incomeThis YearLast Year$ -253341518$7(3)Weaver CompanyStatement of Cash FlowsFor This Year Ended December 31Operating activities:Investing activities:4685128143127$926$ 3057171447196643162121283$926$7524503022208248622$ 64$ 1222919654424347136333$838$ 2267965During this year, Weaver sold some equipment for $18 that had cost $31 and on which there wasaccumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost$6 when purchased several years ago. Weaver paid a cash dividend and repurchased $39 of its own stockbut did not retire any bonds.37017154120196297$8382. Prepare a statement of cash flows for this year.Note: Cash outflows and amounts to be deducted should be indicated with a minus sign.

Cash Flow Statement: An accounting statement that depicts the inflow and outflow of cash from a…

Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities This YearLast Year $ -25 $ 12 334 229 151 196 8 5 468 512 81 431 27 $ 926 $ 305 71 71 447 442 434 71 363 33 $ 838 $ 226 79 65 370

Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities This YearLast Year $ -25 $ 12 334 229 151 196 8 5 468 512 81 431 27 $ 926 $ 305 71 71 447 442 434 71 363 33 $ 838 $ 226 79 65 370

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Assets Balance Sheet Dec 31st Investments Cash and cash equivalents Accounts receivable (net) Blank 2 Northside Medical 2021 and 2022 Financial Statements Amounts in thousands of dollars Property, plant, and equipment Intangibles and other assets Total assets Inventory Prepaid expenses Total current assets 1,380 Example Cash and cash equivalents Total assets 2022 2021 Current liabilities 900 790 Long-term liabilities 410 380 Stockholder's equity - common 1,030 1,040 Total liabilities and stockholder's equity 2,340 2,210 For an accessible version, see the Excel spreadsheet. Blank 1 Add your answer 330 470 460 120 Add your answer 10 420 530 2,340 2022 $330 360 400 390 160 1,310 $2,340 10 380 510 2,210 Income Statement Dec 31st Sales Revenue Costs and expenses 6 OF 14 QUESTIONS REMAINING Cost of goods sold Selling and Administrative Interest expense Total costs and expenses Income before income taxes Cash + Assets Income tax expense Net Income 0.1410 expenses 2,400 25 3,380 2022…
Cash Flows from Operating Activities—Indirect Method The income statement disclosed the following items for year: Depreciation expense $36,900 Gain on disposal of equipment 21,510 Net income 222,200 The changes in the current asset and liability accounts for the year are as follows: Increase(Decrease) Accounts receivable $5,740 Inventory (3,270) Prepaid insurance (1,230) Accounts payable (3,890) Income taxes payable 1,230 Dividends payable 860 a. 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. Statement of Cash Flows (partial) For the year ended xxx Cash flows from operating activities: Net income $fill in the blank edc573f62020fa6_2 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation fill in the blank…
Assets: Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets Liabilities and equity: Accounts payable Notes payable Total current liabilities Long-term debt Common stock Retained earnings Total common equity Total liabilities and equity $ $ $ $ $ $ $ 2015 200,000 864,000 2,000,000 3,064,000 6,000,000 9,064,000 1,400,000 1,600,000 3,000,000 2,400,000 3,000,000 664,000 3,664,000 9,064,000 2014 170,000 700,000 1,400,000 $2,270,000 5,600,000 $7,870,000 $ $1,090,000 1,800,000 $2,890,000 2,400,000 2,000,000 580,00 $2,580,000 $7,870,000 If a firm has EBIT = 1,350,000 and 40% Tax rate, calculate Free Cash Flow.
it is about constructing cash flow statement using indirect method, how is it get the 45? And please explain the calculation.
23) Assets Current Assets Cash Accounts receivable Inventories Other current assets Total current assets Long-Term Assets Land Buildings Equipment Less accumulated depreciation Net property, plant, and equipment Goodwill Other long-term assets Total long-term assets A).75 B).72 C).65 D).70 Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Liabilities and 2005 Stockholders' Equity 2006 57.6 55.2 45.6 5.6 164.0 66.4 108.3 114.3 Current Liabilities 58.5 Accounts payable 234.6 60.0 63.0 357.6 Notes payable/ short-term 39.6 debt Current maturities of long- 42.9 term debt 3.0 Other current liabilities 144.0 Total current liabilities Long-Term Liabilities Long-term debt 62.1 91.5 Capital lease obligations 99.6 (54.4) (52.5) Deferred taxes 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 2006 86.0 10.5 39.6 6.0 142.1 231.3 22.8 - 254.1 396.2 125.4 2005 73.5 9.6 36.9 12.0 132.0 168.9 22.2 www…
12 -ok 7 int Required Information [The following information applies to the questions displayed below.] Income statement and balance sheet data for The Athletic Attic are provided below. Net sales Cost of goods sold Gross profit Expenses: THE ATHLETIC ATTIC Income Statements For the Years Ended December 31 Operating expenses Depreciation expense Interest expense Income tax expense Total expenses Net income Assets Current assets: Cash Accounts receivable Inventory Supplies Long-term assets; Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable 2825 $ 10,680,000 6,980,000 3,700,000 1,620,000 200,000 42,000 424,000 2,286,000 $ 1,414,000 2024 $9,100,000 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 5,600,000 3,500,000 1,570,000 200,000 42,000 370,000 2,182,000 $1,318,000 THE ATHLETIC ATTIC…
Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense Gain on disposal of equipment Net income The changes in the current asset and liability accounts for the year are as follows: Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable Dividends payable Increase (Decrease) $5,190 (2,950) (1,110) (3,520) 1,110 780 $33,300 19,440 225,100 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: 27 Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows from operating activities b. Why is net cash flows from operating…
Question Content Area The following information is available from the current period financial statements: Net income $102,978 Depreciation expense 26,870 Increase in accounts receivable 15,293 Decrease in accounts payable (29,031) The net cash flows from operating activities using the indirect method is a. $174,172 b. $85,524 c. $102,978 d. $31,784
Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense Gain on disposal of equipment Net income The changes in the current asset and liability accounts for the year are as follows: Accounts receivable Inventory Prepaid insurance Accounts payable Income taxes payable Dividends payable Increase (Decrease) $5,700 (3,240) (1,220) (3,860) 1,220 850 $36,600 21,330 218,400 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Us minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $278,600. Depreciation recorded on equipment and a building amounted to $83,300 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $71,320 $74,890 Accounts receivable (net) 90,430 92,410 Inventories 178,300 159,220 Prepaid expenses 9,910 10,560 Accounts payable (merchandise creditors) 79,660 83,580 Salaries payable 11,480 10,410 a. 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 outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash…
Calculate the free Cash Flow ratio
Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $277,600. Depreciation recorded on equipment and a building amounted to $83,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Endof Year Beginningof Year Cash $77,450 $82,100 Accounts Recievable (net) 98,210 101,310 Inventories 193,630 174,540 Prepaid Expenses 10,770 11,580 Accounts Payable (merchandise creditors) 86,510 91,620 Salaries Payable 12,470 11,410 a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: - Net income $ Adjustments to reconcile net income to net cash flows from (used…