MBA Company had the following income statement in 2019: depreciation OMR20000, net income OMR90000.The The following accounts increased during 2019: Accounts receivable OMR22000, Account payableOMR3400, inventoriesOMR46000.Cash from operating activities is:

MBA Company had the following income statement in 2019: depreciation OMR20000, net income OMR90000.The The following accounts increased during 2019: Accounts receivable OMR22000, Account payableOMR3400, inventoriesOMR46000.Cash from operating activities is:

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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Accounts receivable arising from sales to customers amounted to $28000 and $32000 at the beginning and end of 2022, respectively. Income reported on the income statement for the year was $176000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is $176000. $204000. $180000. $172000.
The balance sheets for Mary Company showed the following information. Additional information concerning transactions and events during 2021 are presented below. Mary CompanyBalance Sheet December 31 2021 2020 Cash $ 31,209 $ 10,302 Accounts receivable (net) 43,733 20,503 Inventory 35,350 42,420 Long-term investments 0 15,150 Property, plant & equipment 238,865 151,500 Accumulated depreciation (38,077) (25,250) $311,080 $214,625 Accounts payable $ 17,170 $ 26,765 Accrued liabilities 21,210 17,170 Long-term notes payable 70,700 50,500 Common stock 131,300 90,900 Retained earnings 70,700 29,290 $311,080 $214,625 Additional data: 1. Net income for the year 2021, $61,610. 2. Depreciation on plant assets for the year, $12,827. 3. Sold the long-term…
Situation A: A company has revenues of P200,000 and operating expenses of P110,000 in its 1st year of operations, 2019. For the purpose ignore income taxes.Accounts receivable and accounts payable at year end were P71,000 and P29,000, respectively. Assume that the accounts payable related to operating expenses. Using the direct method, compute net cash provided by operating activities. Situation B:Cost of goods sold were at P310,000 and operating expenses (exclusive of depreciation) P230,000. The comparative balance sheet for the year shows that inventory increased P26,000, prepaid expenses decreased P8,000, accounts payable (related to merchandise) decreased P17,000, and accrued expenses payable increased P11,000. Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.
Blossom Company reports the following information: Net income $ 539000 Depreciation expense 153000 Increase in accounts receivable 61000 Blossom should report cash provided by operating activities of $ 753000. $ 447000. $ 631000. $ 325000.
Required: Using the direct method, compute the net cash flows from operations for Liu Company for 2018.
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Simbop Company reported 2020 net income of $151,000. During 2020, accounts receivable increased by $15,010 and accounts payable increased by $9,966. Depreciation expense was $39,300.Prepare the cash flows from operating activities section of the statement of cash flows.
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