General Accounting On its 2011 Statement of Cash Flows, Hawk, Inc. reported thatit paid $87,600 for interest. Hawk reported $98,600 of InterestExpense on the 2011 Income Statement. The balance inInterest Payable on the 2011 Balance Sheet was $13,200.What was the balance in Interest Payable on the 2010 BalanceSheet?a. $ 2,200b. $5,200c. $13,200d. $24,200e. Unable to tell from the information given.

Step 1: Define Interest ExpenseInterest is a charge against the company's profits and is paid…

Answered: On its 2011 Statement of Cash Flows,…

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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In its fiscal 2010 balance sheet, Big Lots, Inc. reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, cash and equivalents had decreased to $177,539 thousand. The Company's statement of cash flows reported from operating activities of $315,257 thousand, cash from financing activities of $(306,899) thousand. What amount did the company report for cash from investing activities? a) $8,358 thousand cash inflow b) $106,194 thousand cash outflow c) $114,552 thousand cash outflow d) $114,552 thousand cash inflow
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).
n its fiscal 2010 balance sheet, Big Lots, Inc., reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, the cash and cash equivalents had decreased to $177,539 thousand. The company's statement of cash flows reported cash from operating activities of $315,257 thousand, cash from financing activities of ($306,899) thousand. What amount did the company report for cash from investing activities? Select one: a. $8,358 thousand cash inflow b. $106,194 thousand cash outflow c. $114,552 thousand cash outflow d. $114,552 thousand cash inflow e. None of the above.
27740 is the incorrect answer
Ames Company reported 2017 net income of $151,000. During 2017, accounts receivable increased by $13,000 and accounts payable increased by $9,500. Depreciation expense was $44,000. Prepare the cash flows from operating activities section of the statement of cash flows.
calculate cash flow from assets if given year 1: sales=9402, depreciation=1350, costs of good sold=3235, administrative expenses=767, interest expenses=630, cash=4931, accounts receivable=6527, short term notes payable=953, long term debt=16152, net fixed assets=41346, accounts payable=5179, inventory=11604, and dividends=1147 and given year 2: sales=10091, depreciation=1351, costs of good sold=3672, administrative expenses=641, interest expenses=724, cash=6244, accounts receivable=7352, short term notes payable=895, long term debt=19260, net fixed assets=42332, accounts payable=5022, inventory=11926, and dividends=1261 and tax rate is 34%
ILoveFinance, Inc., provided the following financial information for the quarter ending September 30, 2006: Net income $241,463 Depreciation and amortization $133,414 Increase in receivables $102,709 Increase in accounts payables $62,411 Decrease in marketable securities $31,225 Increase in inventory $81,336 What is the cash flow from operating activities generated during this quarter by the firm? a. $253,243 b. -$308,458 c. $343,243 d. $374,468
Colbert Corporation had the following 2017 income statement. Revenues $100,000 Expenses 60,000 $ 40,000 In 2017, Colbert had the following activity in selected accounts. Check the below image for selected account's activity. Prepare Colbert’s cash flows from operating activities section of the statement of cash flows using (a) the direct method and (b) the indirect method.
Given the information below, determine the free cash flow for 2014. Income Statement (In Thousands) Sales Operating costs EBITDA Depreciation Earnings before interest and taxes Interest (8%) Earnings before taxes Taxes (40%) Net income Common dividends Balance Sheet (In Thousands) Assets: Cash and marketable securities Accounts receivable Inventories Total current assets Net fixed assets (PP&E) Total assets Liabilities and equity: Accounts payable Notes payable Accruals 2014 $24,800.00 -$14,880.00 $9,920.00 -$920.00 $9,000.00 -$112.00 $8,888.00 $7.840.00 -$3,555.20 -$3,136.00 $5,332.80 $4,704.00 $2,082.00 $2,352.00 2014 2013 $22,000.00 $13,200.00 $8,800.00 -$800.00 $8,000.00 -$160.00 $1,200.00 $5,565.00 $7.440.00 $14,205.00 $9,200.00 $23,405.00 2013 $1,000.00 $5,000.00 $6,000.00 $12,000.00 $8,000.00 $20,000.00 $6,500.00 $6,000.00 $400.00 $1,000.00 $3.254.20 $3,000.00
1. PIOLO Corporation had the following account balances for 2020: 31-Dec 67,200 24,600 Accounts Payable Prepaid Rent Expense Accounts Receivable (net) 1-Jan 58,200 37,200 66,600 84,000 PIOLO's 2020 profit is P450,000. What amount should PIOLO include as net cash provided by operating activities in its 2002 statement of cash flows? a. 436,200 b. 445,200 c. 453,600 d. 454,200 2. PIOLO Company's 2020 income statement reported cost of goods sold as P135,000. Additional information is as follows: 31-Dec-20 31-Dec-19 Inventory Accounts Payable 30,000 13,000 22,500 19,500 If PIOLO uses the direct method, what amount should PIOLO report as cash paid to suppliers in its 2020 statement of cash flows? a. 121,000 b. 134,000 с. 136,000 d. 149,000 Use the following for the next three questions: PIOLO Company uses the direct method to prepare its statement of cash flows. The company had the following cash flows during 2020: Cash receipts from the issuance of ordinary shares Cash receipts from…
Bloom Corporation had the following 2017 income statement. Check the below image for income statements. The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000.Prepare the cash flows from operating activities section of Bloom’s 2017 statement of cash flows using the direct method.
Cash flow identity. Use the data from the following financial statements in the popup window, . The company paid interest expense of $17,100 for 2017 and had an overall tax rate of 40% for 2017. Verify the cash flow identity: cash flow from assets = cash flow to creditors + cash flow to owners The cash flow from assets is $ 24,380. (Round to the nearest dollar.) The cash flow to creditors is $ 45000. (Round to the nearest dollar.) The cash flow to owners is $ (Round to the nearest dollar.)

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