Use the following information from Chocolate Company's financial statements:IncomeBalanceStatementSheetSales$105,700Cost of Goods Sold(65,000)Salares Expense(19,000)Depreciation Expense(12,000)Net Income$9,700Accounts Receivable Increase$2,100Merchandise Invendory1,800DecreaseSalaries Payable Increase850Determine operating net cash flows (indirect method).

Answered: Determine operating net cash flows…

Business

Accounting

Determine operating net cash flows (indirect method).

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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using the income statement for chester corp below, what is operating cash flow (OCF) for the company? sales- 925,000 COGS- 458,000 Dep Exp- 195,000 EBIT- 272,000 Int exp- 55,800 EBT- 216,200 Taxes- 45,402 NI- 170,798
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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,200 Expenses Cost of goods sold Depreciation expense Salaries expense $51,875 7,400 11,800 71,075 $ 14,125 Net income Prior Partial Balance Sheet Accounts receivable Inventory Salaries payable Current year $10,900 S 14,200 13,800 1,580 year 8,600 970 Required: Present the operating activities section of the statement of cash fl outflows as negative amounts.)
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Sales Expenses Income Statement for Current Year Cost of goods sold Depreciation expense Salaries expense Net income Partial Balance Sheet Accounts receivable Inventory Salaries payable $ 51,875 7,900 10,500 $ 85,800 Cash flows from operating activities: 70,275 $ 15,525 Current year PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) $ 10,100 12, 200 1,640 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. Prior year $ 14,800 9,700 890 $
Given is data for General Mills Inc. for its fiscal year ended May 27, 2018 ($ millions). Cost of goods sold (COGS) = $14,438.1 Cash from operating activities = $3,977.4 Cash from investing activities = (12,159.6) Noncash assets, end of year = 42,315.0 Cash, end of year = 558.6 Cash from financing activities = 7,668.2 Income tax expense = 80.2 Total assets, beginning of year = 30,537.6 Revenue = 22,036.6 Total liabilities, end of year = 33,784.2 Total expenses, other than COGS = 4,490 Stockholders' equity, end of year = 9,089.4 Prepare Income statement, Cash flow statement and Balance sheet for the year 2008. Do not use negative sign, use brackets. Note : Answers for tally- For the year ended May 27, 2018 Answer Revenues Answer 22,036.6 Answer Cost of goods sold Answer 14,438.1 Answer Gross profit Answer 7,958.5 Answer Expenses Answer 4,490.1 Answer Net income Answer 3,108.4 Answer Total assets Answer 0 Answer Total liabilities and equity Answer 0 b. Prepare the balance…
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The following information pertains to Peak Heights Company: Income Statement for Current Year Sales $ 85,300 Expenses Cost of goods $ sold 51,675 Depreciation 8,100 expense Salaries 12,000 71,775 expense Net income $ 13,525 Partial Balance Prior Sheet Current year year Accounts $ $ 9,900 receivable 14,400 Inventory 13,700 8,300 Salaries payable 1,550 850 Required: Present the operating activities section of the statement of cash flows for Peak Heights Company using the indirect method. Note: List cash outflows as negative amounts. PEAK HEIGHTS COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Accounts receivable increase