Kindly help me with accounting questions Consider the following information:Net income: $35,000 Depreciation: $5,000 Increase in accountsreceivable: $2,500 Decrease in inventory: $1,200 Increase inaccounts payable: $1,800 Purchase of new machinery: $8,000The company would report a net cash inflow from operatingactivities of:A) $38,500B) $40,500C) $42,300D) $48,300

Calculation of Net Cash Inflow from Operating ActivitiesNet Cash Inflow from Operating Activities =…

Answered: Consider the following information: Net…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

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Problem 14M

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In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts receivable, a 7,000 increase in inventory, an 8,000 increase in salaries payable, a 13,000 decrease in accounts payable, and 10,000 in depreciation expense. Using the indirect method, prepare the operating activities section of its statement of cash flows based on this information.
Calculate the operating cash flows from the following data: Sales: $2,190,000 Cost: $815,000 Depreciation: $290,000 Tax rate: 21% Life: 3 years $857,150 O $1,147,150 O$1,085,000 O s1,375,00
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Fitz Company reports the following information. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Selected Year-End Balance Sheet Data $ 412,000 Accounts receivable decrease 47,000 Inventory decrease 7,300 Prepaid expenses increase 6,200 Accounts payable decrease Salaries payable increase $ 123,200 50,500 5,800 9,000 2,200 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $
Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense $42,700 Gain on disposal of equipment 24,890 Net income 328,300 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $6,650 Inventory (3,780) Prepaid insurance (1,420) Accounts payable (4,510) Income taxes payable 1,420 Dividends payable 1,000 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)
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Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense $41,700 Gain on disposal of equipment 24,350 Net income 312,200 The changes in the current asset and liability accounts for the year are as follows: Increase(Decrease) Accounts receivable $6,500 Inventory (3,700) Prepaid insurance (1,390) Accounts payable (4,410) Income taxes payable 1,390 Dividends payable 970 Question Content Area 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: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: - Select - -…
The following details are provided by a manufacturing company: Investment Useful life Estimated annual net cash inflows for first year Estimated annual net cash inflows for second year Estimated annual net cash inflows for next ten years Residual value Product line OA. 2.74 years OB. 6.36 years O c. 6.71 years OD. 2.24 years $1,030,000 12 years $460,000 $430,000 $190,000 $50,000 Depreciation method Straight-line 12% Required rate of return Calculate the payback period for the investment. (Round your answer to two decimal places.) ...
Fitz Company reports the following information. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Selected Year-End Balance Sheet Data $ 421,000 Accounts receivable decrease 48,600 Inventory decrease 7,300 Prepaid expenses increase 7,900 Accounts payable decrease Salaries payable increase $ 133,100 44,500 7,000 10,300 1,800 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities
Reno Company's net income of $30,000 includes a charge for depreciation expense of $20,000. Its estimated net annual cash flow would be OA) $10,000 B) $12,500 OC) $25,000 D) $50,000 E) none of the above
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