Complete the statement of sources and uses of cash from the following entries:Net incomeDividendsAdditions to inventory$ 2,100900180Additions to receivables210Depreciation150Reduction in payables610Net issuance of long-term debt360Sale of fixed assets120SourcesCash from operations:Total sourcesUses$0$0Total uses

1. Issued Long Term Debt: $360This represents cash received from borrowing long-term debt, which…

Answered: Complete the statement of sources and…

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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Apex Company prepared the statement of cash flows shown below: Apex Company Statement of Cash Flows-Indirect Method Operating activities: Net income $ 41,400 Adjustments to convert net income to cash basis: Depreciation $ 21,000 Increase in accounts receivable Increase in inventory (62,000) (27,000) Decrease in prepaid expenses 10,200 Increase in accounts payable 54,900 Decrease in accrued liabilities (10,800) Increase in income taxes payable 4,400 Net cash provided by (used in) operating activities (9,300) 32,100 Investing activities: Proceeds from the sale of equipment 14,400 Loan to Thomas Company (40,400) Additions to plant and equipment (121,200) Net cash provided by (used in) investing activities Financing activities: (147,200) Increase in bonds payable 88,400 Increase in common stock 38,200 S Cash dividends (28,900) Net cash provided by (used in) financing activities Net decrease in cash and cash equivalents 97,700 (17,400) Beginning cash and cash equivalents Ending cash and…
it is about constructing cash flow statement using indirect method, how is it get the 45? And please explain the calculation.
Use the indirect method to determine Anka Company’s net cash provided or used for operating activities using the below information: Net income $15,200 Depreciation expense 10,000 Cash payment on long-term note payable 8,000 Gain on sale of equipment 3,000 Increase in inventory 1,500 Increase in accounts payable 2,850 Group of answer choices $15,550 $42,400 ($4,450) $23,550
Complete the statement of sources and uses of cash from the following entries: Net income $ 2,000 Dividends 800 Additions to inventory 170 Additions to receivables 200 Depreciation 140 Reduction in payables 600 Net issuance of long-term debt 350 Sale of fixed assets 110
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 $283,380 $266,640 Accounts receivable (net) 102,660 95,770 Inventories 289,780 283,550 Investments 0 109,850 Land 148,640 0 Equipment 319,740 250,680 Accumulated depreciation—equipment (74,850) (67,600) Total assets $1,069,350 $938,890 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $193,550 $184,960 Accrued expenses payable (operating expenses) 19,250 24,410 Dividends payable 10,690 8,450 Common stock, $10 par 57,740 46,010 Paid-in capital in excess of par—common stock 217,080 127,690 Retained earnings 571,040 547,370 Total liabilities and stockholders’ equity $1,069,350 $938,890 Additional data obtained from an examination of the accounts in the ledger for…
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
Apex Company prepared the statement of cash flows shown below: Apex Company Statement of Cash Flows—Indirect Method Operating activities: Net income $ 40,800 Adjustments to convert net income to cash basis: Depreciation $ 20,900 Increase in accounts receivable (61,300) Increase in inventory (25,300) Decrease in prepaid expenses 10,000 Increase in accounts payable 53,700 Decrease in accrued liabilities (11,200) Increase in income taxes payable 4,300 (8,900) Net cash provided by (used in) operating activities 31,900 Investing activities: Proceeds from the sale of equipment 14,900 Loan to Thomas Company (40,400) Additions to plant and equipment (120,000) Net cash provided by (used in) investing activities (145,500) Financing activities: Increase in bonds payable 89,400 Increase in common stock 40,000 Cash dividends (28,700) Net cash provided by (used in) financing activities 100,700 Net…
Yeoman Inc. reported the following data: Net income $170,000 Depreciation expense 29,000 Loss on disposal of equipment 11,850 Increase in accounts receivable 10,490 Increase in accounts payable 5,430 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.
The following information is available from the current period financial statements: Net income $ 141,238 Depreciation expense $36,864 Increase in accounts receivable $15,924 Decrease in accounts payable $23,055 The net cash flow from operating activities using the indirect method is a.$217,081 b.$139,123 c.$111,505 d.$88,450
Demers Inc. reported the following data: Net income $409,500 Depreciation expense 46,460 Gain on disposal of equipment 37,860 Decrease in accounts receivable 25,340 Decrease in accounts payable 5,930 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
Statement of Cash Flows 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 $256,570 $239,760 Accounts receivable (net) 92,940 86,110 Inventories 262,370 254,970 Investments 0 98,780 Land 134,580 0 Equipment 289,480 225,410 Accumulated depreciation—equipment (67,770) (60,790) Total assets $968,170 $844,240 Liabilities and Stockholders' Equity Accounts payable $175,240 $166,320 Accrued expenses payable 17,430 21,950 Dividends payable 9,680 7,600 Common stock, $10 par 52,280 41,370 Excess of paid-in capital over par 196,540 114,820 Retained earnings 517,000 492,180 Total liabilities and stockholders' equity $968,170 $844,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land were…
A draft statement of cash flows contains the following: £ i Profit before tax 22 ii Depreciation 8 iii Increase in inventories -4 iv Decrease in receivables -3 v Increase in payables -2 Net cash inflow from operating activities 21 Which Two of the following corrections needs to be made to the calculation? a. ii and v b. iv and iii c. i and ii d. iv and v

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