In preparing a company's statement of cash flows using the indirect method, the following Information is avallable.Netincome61,000Accounts payable increased byreceivable18,900Accountsdecreased by25,900Inventories increased byDepreciation expense6,80032,700-t cash provided by operating activities was:Itiple Choice$66,300.$93,500.31,700. $66,300.$93,500.$131,700.$145,300.$79,900.

Statement of Cash flows is a Summary of all expected cash inflows and cash outflows incurred during…

In preparing a company's statement of cash flows using the Indirect method, the following Information is available:. Net income 24 61,000 Accounts payable increased by Accounts nventories increased by epreciation expense 18,900 receivable de creased by 25,900 6,800 32,700 ash provided by operating activities was: "tiple Choice $66,300. 593,500. 700.

In preparing a company's statement of cash flows using the Indirect method, the following Information is available:. Net income 24 61,000 Accounts payable increased by Accounts nventories increased by epreciation expense 18,900 receivable de creased by 25,900 6,800 32,700 ash provided by operating activities was: "tiple Choice $66,300. 593,500. 700.

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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Baird Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable Year 2 $15,000 Accounts payable $ 8,400 Year 1. $19,500 $10, 150 The Year 2 income statement showed net income of $28,700. Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities Net cash flow from operating activities $ 0
Mazaya Company has the following information available: Net Income R.O. 37,500; Cash Provided by Operations R.O. 46,500; Cash Sales R.O. 97,500; Capital Expenditures R.O.16,500; Dividends Paid R.O. 4,500. What is Mazaya's free cash flow?
Statement of cash flows—indirect method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Line Item Description December 31, 20Y9 December 31, 20Y8 Assets Cash $269,900 $253,670 Accounts receivable (net) 97,780 91,110 Inventories 276,000 269,750 Investments 0 104,510 Land 141,570 0 Equipment 304,530 238,490 Accumulated depreciation—equipment (71,290) (64,310) Total assets $1,018,490 $893,220 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $184,350 $175,960 Accrued expenses payable (operating expenses) 18,330 23,220 Dividends payable 10,180 8,040 Common stock, $10 par 55,000 43,770 Paid-in capital in excess of par—common stock 206,750 121,480 Retained earnings 543,880 520,750 Total liabilities and stockholders' equity $1,018,490 $893,220 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…
Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Income Statement: Current Year Revenue 4,742.00 Cost of Goods Sold 2,323.58 Gross Margin 2,418.42 SG&A 524.00 EBITDA 1,894.42 Depreciation Expense 504.00 EBIT 1,390.42 Interest Expense 164.20 EBT 1,226 Taxes 429.18 Net Income 797.04 Dividends 410 Addition to Retained Earnings 387.04 Balance Sheet: Assets Prior Year Current Year Cash 800 ???? Accounts Receivables 400 452.00 Inventory 300 358.00 Total Current Assets 1,500 ???? Net Fixed Assets 5,000 5,211.00 Total Asset 6,500 ???? Liabilities and Equity Prior Year Current Year Accounts Payable 300 320.00 Notes Payable 1,000 919.00 Total Current Liabilities 1,300 1,239.00 Long-Term Debt 2,000 2,365.00 Total Liabilities 3,300 ???? Common Stock and Paid-in Capital 2,200 2,200…
Mazaya Company has the following information available: Net Income R.O. 55,000; Cash Provided by Operations R.O. 68,200; Cash Sales R.O. 143,000; Capital Expenditures R.O.24,200; Dividends Paid R.O. 6,600. What is Mazaya's free cash flow? Select one: a. R.O.61,600 b. R.O.37,400 c R.O.44,000 d. R.O.24,200
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russell co reports sales revenue of 30000 and interest revenue of 5000. it comparative balance sheet show that accounts recievable decrease 4000 and interest recievable increased 1000 compute cash provided by operating activities using the direct method
The following items appeared on the financial statements of Washington Company. Line Item Description Amount Accounts receivable, January 1 $13,395 Accounts receivable, December 31 6,901 Accounts payable, January 1 5,645 Accounts payable, December 31 8,721 Inventory, January 1 6,686 Inventory, December 31 16,260 Sales 73,071 Cost of goods sold 34,443 Washington Company uses the direct method to report cash flows from (used for) operating activities. Assume that all accounts payable are owed to merchandise suppliers. Cash payments for merchandise were
Kingbird Import Company had credit sales of $1824000. The beginning accounts receivable balance was $188000 and the ending accounts receivable balance was $319000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? $2069000. $1824000. $2012000. O $1693000. OO
Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 647,180 $ 696,900 Accounts receivable (net) 588,930 537,160 Inventories 893,110 821,920 Prepaid expenses 20,710 24,590 Land 222,630 336,530 Buildings 1,029,020 634,240 Accumulated depreciation-buildings (291,230) (271,820) Equipment 362,420 320,350 Accumulated depreciation-equipment (99,670) (111,960) Total assets $3,373,100 $2,987,910 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 640,890 $ 676,300 Bonds payable 188,890 0 Common stock, $20 par 222,000 82,000 Excess of…