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Operating activities Profit Adjustments to reconcile profit to net cash provided by operating activities Depreciation Expense (Gain) loss on Sale of Equipment Decrease (Increase) in accounts receivable Decrease (increase) in Inventory Decrease (Increase) in Prepaid Expenses (Decrease) Increase in Accounts payable (Decrease) Increase in Wages payable (Decrease) Increase in Income Taxes Payable Net cash provided by operating activities Investing activities Sale of Sale of Equipment Purchase of Equipment Net cash used by investing Net Increase in Cash $ 4,000 $(1,000) $4,000 $ 3,000 $ 2,600 $ (1,500) $ 1,300 Working capital $ 7,600 $ 1,000 $ (4,000) $ 20,400 $ (1,800) $10,600 $ 31,000 $ (3,000) $6.000 Q1 Q2 Questions 1-13 are for the Cash Flow statement for Tournesol Inc. prepared using the indirect method. What is the Total adjustment to reconcile profit to net cash provided by operations? $ $ $ $ none of the above B) C) D) E) A) B) What is the Net cash generated or (used) by Investing activities? $ 9,300 -$ 1,000 $ (3,000) 1,000 $ none of the above M 10,600 14,600 D) E) 16,100 11,900

Operating activities Profit Adjustments to reconcile profit to net cash provided by operating activities Depreciation Expense (Gain) loss on Sale of Equipment Decrease (Increase) in accounts receivable Decrease (increase) in Inventory Decrease (Increase) in Prepaid Expenses (Decrease) Increase in Accounts payable (Decrease) Increase in Wages payable (Decrease) Increase in Income Taxes Payable Net cash provided by operating activities Investing activities Sale of Sale of Equipment Purchase of Equipment Net cash used by investing Net Increase in Cash $ 4,000 $(1,000) $4,000 $ 3,000 $ 2,600 $ (1,500) $ 1,300 Working capital $ 7,600 $ 1,000 $ (4,000) $ 20,400 $ (1,800) $10,600 $ 31,000 $ (3,000) $6.000 Q1 Q2 Questions 1-13 are for the Cash Flow statement for Tournesol Inc. prepared using the indirect method. What is the Total adjustment to reconcile profit to net cash provided by operations? $ $ $ $ none of the above B) C) D) E) A) B) What is the Net cash generated or (used) by Investing activities? $ 9,300 -$ 1,000 $ (3,000) 1,000 $ none of the above M 10,600 14,600 D) E) 16,100 11,900

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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can you explain how they got a for question 1 and c for question 2, like where did the 10,600 come from and where did the 3000 come from on the cash flow statement on the left side of the second image

Questions 1- 45 are based on the following information for Tournesol Inc. (Cash flow statement and Financial Statement Analysis questions) The income statement for the year ended December 15, 2018, for Tournesol Inc. contains the following information: Tournesol Inc. Income Statement Year Ended December 15, 2018 Sale Cost of goods sold Rent Expense Wages and Salaries Expense Amortization Expense Results of Sale of equipment Interest Expense Income Tax Expense Profit Cash Accounts Receivable Inventory Prepaid Expenses Tournesol Inc. comparative balance sheet at December 15, 2018 Equipment Accumulated Depreciation - equipment Total Assets Account Payable Wages and Salaries Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity 2018 7,000 $ $ 5,000 $ $ 10,000 2,400 $ 34,000 $ (12,000) $ 46,400 $ $ 3,500 6,800 $ 1,200 $ 1,000 $ 7,000 $ 9,000 $ 17,900 $ 46,400 $ 100,000 $ (52,000) $ (6,000) $ (15,000) $ (4,000) $ 1,000 (1,600) (2,000) 20,400 $ $ $ 2017 $ 1,000 $ 9,000 $ 13,000 $ 5,000 $ 40,000 $ (18,000) $ 50,000 $ $ $ $ $ 22,000 $ 10,000 $ 2,000 $ 50,000 5,000 5,500 3,000 2,500
Transcribed Image Text:Questions 1- 45 are based on the following information for Tournesol Inc. (Cash flow statement and Financial Statement Analysis questions) The income statement for the year ended December 15, 2018, for Tournesol Inc. contains the following information: Tournesol Inc. Income Statement Year Ended December 15, 2018 Sale Cost of goods sold Rent Expense Wages and Salaries Expense Amortization Expense Results of Sale of equipment Interest Expense Income Tax Expense Profit Cash Accounts Receivable Inventory Prepaid Expenses Tournesol Inc. comparative balance sheet at December 15, 2018 Equipment Accumulated Depreciation - equipment Total Assets Account Payable Wages and Salaries Payable Income taxes payable Dividends Payable Long-term Notes Payable Common shares Retained Earnings Total Liabilities & Shareholders' Equity 2018 7,000 $ $ 5,000 $ $ 10,000 2,400 $ 34,000 $ (12,000) $ 46,400 $ $ 3,500 6,800 $ 1,200 $ 1,000 $ 7,000 $ 9,000 $ 17,900 $ 46,400 $ 100,000 $ (52,000) $ (6,000) $ (15,000) $ (4,000) $ 1,000 (1,600) (2,000) 20,400 $ $ $ 2017 $ 1,000 $ 9,000 $ 13,000 $ 5,000 $ 40,000 $ (18,000) $ 50,000 $ $ $ $ $ 22,000 $ 10,000 $ 2,000 $ 50,000 5,000 5,500 3,000 2,500
Operating activities Profit Adjustments to reconcile profit to net cash provided by operating activities Depreciation Expense (Gain) loss on Sale of Equipment Decrease (Increase) in accounts receivable Decrease (increase) in Inventory Decrease (Increase) in Prepaid Expenses (Decrease) Increase in Accounts payable (Decrease) Increase in Wages payable (Decrease) Increase in Income Taxes Payable Net cash provided by operating activities Investing activities Sale of Equipment Purchase of Equipment Net cash used by investing Pav Nd be a Net Increase in Cash $ 4,000 $ (1,000) $ 4,000 3,000 $ 2,600 $ (1,500) $ 1,300 $ (1,800) $ $ 1,000 $ (4,000) Working capital $ 7,600 $ 20,400 $ 10,600 $ 31,000 $ (3,000) S 6.000 Q1 Q2 Questions 1-13 are for the Cash Flow statement for Tournesol Inc. prepared using the indirect method. What is the Total adjustment to reconcile profit to net cash provided by operations? $ $ $ $ none of the above A) B) C) D) E) What is the Net cash generated or (used) by Investing activities? $ 9,300 -$ 1,000 $ (3,000) 1,000 $ none of the above A) B) 10,600 14,600 16,100 11,900 % D) E)
Transcribed Image Text:Operating activities Profit Adjustments to reconcile profit to net cash provided by operating activities Depreciation Expense (Gain) loss on Sale of Equipment Decrease (Increase) in accounts receivable Decrease (increase) in Inventory Decrease (Increase) in Prepaid Expenses (Decrease) Increase in Accounts payable (Decrease) Increase in Wages payable (Decrease) Increase in Income Taxes Payable Net cash provided by operating activities Investing activities Sale of Equipment Purchase of Equipment Net cash used by investing Pav Nd be a Net Increase in Cash $ 4,000 $ (1,000) $ 4,000 3,000 $ 2,600 $ (1,500) $ 1,300 $ (1,800) $ $ 1,000 $ (4,000) Working capital $ 7,600 $ 20,400 $ 10,600 $ 31,000 $ (3,000) S 6.000 Q1 Q2 Questions 1-13 are for the Cash Flow statement for Tournesol Inc. prepared using the indirect method. What is the Total adjustment to reconcile profit to net cash provided by operations? $ $ $ $ none of the above A) B) C) D) E) What is the Net cash generated or (used) by Investing activities? $ 9,300 -$ 1,000 $ (3,000) 1,000 $ none of the above A) B) 10,600 14,600 16,100 11,900 % D) E)
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