Cash flow from operating activites - indirect method Satetly Inc. reported the following data: net income $347700 DEpriciation expenses 74500 loss on disposal of equipment 28300 increase in account recivable 22400 increasing in accounts payable 12600 prepare the cash flow from operating activites section of the statement of cash flow using the indirect method . use the minus signd
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Satetly Inc. reported the following data:
net income $347700
DEpriciation expenses 74500
loss on disposal of equipment 28300
increase in account recivable 22400
increasing in accounts payable 12600
prepare the cash flow from operating activites section of the statement of cash flow using the indirect method . use the minus signd
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- Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $305,280 $281,690 Accounts receivable (net) 110,590 101,170 Inventories 312,180 299,530 Investments 0 116,050 Land 160,130 0 Equipment 344,450 264,830 Accumulated depreciation—equipment (80,640) (71,410) Total assets $1,151,990 $991,860 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $208,510 $195,400 Accrued expenses payable (operating expenses) 20,740 25,790 Dividends payable 11,520 8,930 Common stock, $10 par 62,210 48,600 Paid-in capital in excess of par—common stock 233,850 134,890 Retained earnings 615,160 578,250 Total liabilities and stockholders' equity $1,151,990 $991,860 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $226,390 $211,080 Accounts receivable (net) 82,010 75,810 Inventories 231,510 224,450 Investments 0 86,960 Land 118,750 0 Equipment 255,440 198,450 Accumulated depreciation—equipment (59,800) (53,510) Total assets $854,300 $743,240 Liabilities and Stockholders' Equity Accounts payable $154,630 $146,420 Accrued expenses payable 15,380 19,320 Dividends payable 8,540 6,690 Common stock, $10 par 46,130 36,420 Paid-in capital: Excess of issue price over par-common stock 173,420 101,080 Retained earnings 456,200 433,310 Total liabilities and stockholders’ equity $854,300 $743,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…Ravenna Company is a merchandiser using the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance Cash and cash equivalents $ 89,000 $ 106,750 Accounts receivable 71,500 77,000 Inventory 96,000 87,500 Total current assets 256,500 271,250 Property, plant, and equipment 255,000 245,000 Less accumulated depreciation 85,000 61,250 Net property, plant, and equipment 170,000 183,750 Total assets $ 426,500 $ 455,000 Accounts payable $ 56,000 $ 99,500 Income taxes payable 43,500 57,000 Bonds payable 105,000 87,500 Common stock 122,500 105,000 Retained earnings 99,500 106,000 Total liabilities and stockholders’ equity $ 426,500 $ 455,000 During the year, Ravenna paid a $10,500 cash dividend and sold a piece of equipment for $5,250 that originally cost $12,000 and had accumulated depreciation of $8,000. The company did not retire any bonds or…
- Required information Skip to question [The following information applies to the questions displayed below.] Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance Cash and cash equivalents $ 102,000 $ 122,400 Accounts receivable 81,700 88,000 Inventory 109,700 100,000 Total current assets 293,400 310,400 Property, plant, and equipment 291,000 280,000 Less accumulated depreciation 97,000 70,000 Net property, plant, and equipment 194,000 210,000 Total assets $ 487,400 $ 520,400 Accounts payable $ 64,000 $ 113,700 Income taxes payable 49,700 65,700 Bonds payable 120,000 100,000 Common stock 140,000 120,000 Retained earnings 113,700 121,000 Total liabilities and stockholders’ equity $ 487,400 $ 520,400…Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $269,900 $253,670 Accounts receivable (net) 97,780 91,110 Inventories 276,000 269,750 Investments 0 104,510 Land 141,570 0 Equipment 304,530 238,490 Accumulated depreciation—equipment (71,290) (64,310) Total assets $1,018,490 $893,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $184,350 $175,960 Accrued expenses payable (operating expenses) 18,330 23,220 Dividends payable 10,180 8,040 Common stock, $10 par 55,000 43,770 Paid-in capital in excess of par—common stock 206,750 121,480 Retained earnings 543,880 520,750 Total liabilities and stockholders' equity $1,018,490 $893,220 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…Hamburger Heaven's income statement for the current year and selected balance sheet data for the current and prior years ended December 31 are presented below. Income Statement Sales Revenue $1,860 Expenses: Cost of Goods Sold 850 Depreciation Expense Salaries and Wages Expense Rent Expense 150 450 200 Insurance Expense 75 Interest Expense Utilities Expense 45 Net Income 35 Selected Balance Sheet Accounts Current Year Prior Year 72 Inventory Accounts Receivable 55 355 400 Accounts Payable Salaries/Wages Payable Utilities Payable Prepaid Rent Prepaid Insurance 225 260 39 25 25 10 14 TIP: Prepaid Rent decreased because the amount taken out of Prepaid Rent (and subtracted from net income as Rent Expense) was more than the amount paid for rent in cash during the current year. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
- Cash Flows from Operating Activities—Indirect Method Staley Inc. reported the following data: Net income $298,400 Depreciation expense 59,600 Loss on disposal of equipment 24,800 Increase in accounts receivable 13,200 Increase in accounts payable 11,800 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.Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,189,000 Cost of goods sold 1,072,610 Gross profit 1,116,390 Operating expenses Salaries expense $ 299,893 Depreciation expense 52,536 Rent expense 59,103 Amortization expenses—Patents 6,567 Utilities expense 24,079 442,178 674,212 Gain on sale of equipment 8,756 Net income $ 682,968 Accounts receivable $ 46,450 increase Accounts payable $ 12,900 decrease Inventory 13,500 increase Salaries payable 5,150 decreaseStatement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $239,460 $223,010 Accounts receivable (net) 86,750 80,100 Inventories 244,880 237,150 Investments 0 91,870 Land 125,600 0 Equipment 270,190 209,660 Accumulated depreciation—equipment (63,250) (56,540) Total assets $903,630 $785,250 Liabilities and Stockholders' Equity Accounts payable $163,560 $154,690 Accrued expenses payable 16,270 20,420 Dividends payable 9,040 7,070 Common stock, $10 par 48,800 38,480 Paid-in capital: Excess of issue price over par-common stock 183,440 106,790 Retained earnings 482,520 457,800 Total liabilities and stockholders’ equity $903,630 $785,250 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
- Staley Inc. reported the following data: Net income Depreciation expense Loss on disposal of equipment Increase in accounts receivable Increase in accounts payable 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. $485,300 57,200 30,500 22,400 12,100 Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activitiesStatement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $269,900 $249,630 Accounts receivable (net) 97,780 89,650 Inventories 276,020 265,460 Investments 0 102,840 Land 141,570 0 Equipment 304,530 234,680 Accumulated depreciation—equipment (71,300) (63,290) Total assets $1,018,500 $878,970 Liabilities and Stockholders' Equity Accounts payable $184,350 $173,160 Accrued expenses payable 18,330 22,850 Dividends payable 10,190 7,910 Common stock, $10 par 55,000 43,070 Paid-in capital: Excess of issue price over par-common stock 206,760 119,540 Retained earnings 543,870 512,440 Total liabilities and stockholders’ equity $1,018,500 $878,970 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:…Staley Inc. reported the following data: Net income $226,300 Depreciation expense 72,400 Loss on disposal of equipment 36,700 Increase in accounts receivable 28,700 Increase in accounts payable 10,300 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. blankStaley Inc.Statement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities: - Select - - Select - Changes in current operating assets and liabilities: - Select - - Select - Net cash flow from operating activities $fill in the blank 11
