Current Attempt in Progress Pharoah Service Company's net income for 2025 was $290200. At the end of the year, the company's accounts receivable balance was $24700 higher than at the beginning of the year. The accounts payable balance was $5400 lower than at the beginning of the year and the company reported depreciation expense of $45000. Net cash provided by operating activities for the year is O $275300. O $290200. O $305100. O $246200.
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- sThe 2025 income statement of Wildhorse Corporation included the following items Service Revenue Interest Expense Unearned Service Revenue Interest payable All of Wildhorse's revenue is received in cash (no Accounts Receivable). The following items were taken from Wildhorse's balance sheet $367600 O $367600. O $370150. 4700 O $362900. O $394450. The cash received for services during the year is December 31, 2025 $26850 1250 December 31, 2024 $24300 1950The following information was extracted from the records of SydMel Ltd for the year ended30 June 2021.SydMel LtdStatement of Financial Position (Extract)As at 30 June 2021AssetsAccounts receivables $26,000Allowance for doubtful debts 2,500 $23,500Equipment 150,000Accumulated depreciation – Equipment (20% per year) 30,000 120,000LiabilitiesInterest Payable 2,000 2,000Provision for employee benefits 5,000 5,000Additional information• The allowed deductible tax depreciation rate for Equipment is 25%.• None of the employee benefits has been paid. It is not deductible for tax purposes untilit is actually paid.• The tax rate is 30%.Requireda. Prepare a deferred tax worksheet to identify the temporary differences arising inrespect of the assets and liabilities in the statement of financial position, and tocalculate the balance of the deferred tax liability and deferred tax asset accounts at30 June 2021. Assume the opening balances of the deferred tax accounts were $3,000for Deferred Tax…
- The following information was taken from the accounts receivable records of Monty Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $156,000 0.5% 31 – 60 days outstanding 65,400 2.5% 61 – 90 days outstanding 40,000 4.0% 91 – 120 days outstanding 20,800 6.5% Over 120 days outstanding 5,100 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,280 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $4,010 prior to the…Current Attempt in Progress Your answer is partially correct. In 2020, Carla Corporation reported a net loss of $66,300. Carla's only net income adjustments were depreciation expense $77,200, and increase in accounts receivable $8,400. Compute Carla's net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided by operating activities eTextbook and Media Save for Later Attempts: unlimited Submit Answerpractice
- Tantrum Company provided the following information in relation to accounts receivable at year-end: Days outstanding estimated amount %uncollectible www M 1% 1,200,000 900,000 0-60 61-120 2% 1,000,000 3,100,000\ During the current year, the entity wrote off P70,000 in accounts receivable and recovered P20,000 that had been written off in prior years. At the beginning of current year, the allowance for uncollectible accounts was Over 120 6% P60,000. Under the aging method, what amount of uncollectible accounts expense should be reported for the current year?Blossom Company has been operating for several years, and on December 31, 2025, presented the following balance shee Cash Receivables Inventory Plant assets (net) (a) (b) (c) (d) BLOSSOM COMPANY Balance Sheet December 31, 2025 Current ratio $44,000 Accounts payable Mortgage payable Common stock ($1 par) Retained earnings 69.600 Acid-test ratio 79,200 238,500 $431,300 The net income for 2025 was $25,878. Assume that total assets are the same in 2024 and 2025. Compute each of the following ratios. (Round answers to 2 decimal places, eg. 1.59 or 45.87%.) Debt to assets ratio Return on assets $80,000 % 178,780 % 152.300 20.220 $431,300Alfredo Incorporated reports net income of $253,000 for the year ended December 31 It also reports $97,700 depreciation expense and a $6,150 gain on the sale of equipment. Its comparative balance sheet reveals a $40,100 decrease in accounts receivable, a $18,050 increase in accounts payable, and a $14,050 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method. Multiple Choice O $388,650.
- Adobe Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2018. Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation $ 1,350 1,330 650 1,400 Allowance for Doubtful Accounts 15 Cash and Cash Equivalents 1,640 Common Stock 450 Deferred Revenue 2,915 Equipment 13,060 Income Taxes Payable 35 Notes Payable (long-term) 5,105 Notes Receivable (long-term) 185 Prepaid Rent 310 Retained Earnings 8,915 Service Revenue 485 Short-Term Investments 1,590 2,720 Software Required: Prepare a classified balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (One of the accounts does not belong on the balance sheet.) (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Answer is not complete. ADOBE INCORPORATED Balance Sheet As of November 30, 2018 (in millions of dollars) Assets Current Assets Cash and Cash Equivalents Accounts…Kela Corporation reports net income of $530,000 that includes depreciation expense of $74,000. Also, cash of $55,000 was borrowed on a 4-year note payable. Based on this data, total cash inflows from operating activities are Mutiple Choice S604.000 O $585,000 O $669.000. $456,000. Ps >>> Type here to search Ps 39% A d) O 99+ ブォ PISO F10 F1 F12 Insert CE T D G H. K アV MI Alt CtriCurrent Attempt in Progress Splish Brothers Inc. reported net income of $122400 for the year 2022. During 2022, accounts receivable increased by $8160, accounts payable decreased by $5440 and depreciation expense of $13600 was recorded. Net cash provided by operating activities for 2022 is A. $111520. B. $122400. C. $108800. D. $136000. eTextbook and Media Attempts: 0 of 1 used