Financial Accounting For this year, JJ company has 20,000 net earnings on the incomestatement and 7,000 net cash inflow from operating activities, 15,000net cash outflow from investing activities, and 20,000 cash inflowfrom financing activities on the statement of cash flows.What is the accruals total reported for this period?a. Ob. 5,000c. 7,000d. 13,000

Step 1: Define Net EarningsNet earnings, called net income, are the total funds an entity receives…

Answered: For this year, JJ company has 20,000…

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 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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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.
Swasey Company earned net income of 1,800,000 in 20X2. Swasey provided the following information: Required: Compute the financing cash flows for the current year.
Statement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
Use the following excerpts from Indigo Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $225,000.
Use the following information from Birch Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $122,000.
Tifton Co. had the following cash transactions during the current year: Refer to the information in RE21-6. Prepare the financing activities section of Tifton Co.s statement of cash flows.
The cash balance of Muscat Company is 28000 OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow: 41000 Financing cash outflow: 24000 Investing inflow: 19000 Which of the following is the cash balance at the end of the year. Select one: O a. 74000 O b. 64000 O c. 102000 O d. 52000
45. Last year Lawsby Company reported sales of 120,000 on its income statement. During the year, accounts receivable increased by 10,000 and accounts payable increased by 15,000. The company uses the direct method to determine the net cash provided by the operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:
Swifty Ltd. had the following 2023 income statement data: Revenues Expenses 1/1/23 Revenues $113,000 In 2023, Swifty had the following activity in selected accounts: 12/31/23 49,200 $63,800 Accounts Receivable 19,100 113,000 34,780 1,320 Write-offs 96,000 Collections Allowance for Expected Credit Losses Write-offs 1.320 Swifty Ltd. Statement of Cash Flows (Indirect Method) 1,300 1.540 1.520 1/1/23 Loss on impairment 12/31/23 Prepare Swifty's cash flows from operating activities section of the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a negative sign e.g. -10,000 or in parenthesis eg. (10,000).
Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities?
Cash Flow RatiosSpencer Company reports the following amounts in its annual financial statements: Cash flow from operating activities $90,000 Capital expenditures $59,500* Cash flow from investing activities (68,000) Average current assets 136,000 Cash flow from financing activities (8,500) Average current liabilities 102,000 Net income 42,500 Total assets 255,000 * This amount is a cash outflowa. Compute Spencer's free cash flow.b. Compute Spencer's operating-cash-flow-to-current-liabilities ratio.c. Compute Spencer's operating-cash-flow-to-capital-expenditures ratio. Round ratios to two decimal points. a. Free cash flow Answer b. Operating-cash-flow-to-current-liabilities ratio Answer c. Operating-cash-flow-to-current-expenditures ratio Answer
The current period statement of cash flows includes the following: Cash balance at the beginning of the period Net cash flow from operating activities $410,000 185,000 Net cash flow used for investing activities Net cash flow used for financing activities 53,000 97,000 The cash balance at the end of the period is.....

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