E5-10Operating Cash Flows: Direct Method The following are various cash flows and other information for SmyczekCompany:LO 5.9Payments of interest, $8,200b. Receipt from sale of land, S7,900Interest collected, S10,000d. Payment of dividends, $12,100e. Depreciation expense, $24,700f.g. Payments of income taxes, $15,400h. Receipt from issuance of stock, $18,900Payments to suppliers and employees,$67,500Increase in inventories, $4,600a.C.Collections from customers, $101,600Required:Using the direct method, prepare the operating activities section of Smyczek's statement of cash flows.nte出能券券班

Cash from operating activities shows all cash inflows and cash outflows of business from the main…

Operating Cash Flows: Direct Method The following are various cash flows and other information for Smycze Company: E5-10 LO 5.9 Payments of interest, $8,200 b. Receipt from sale of land, $7,900 Interest collected, S10,000 d. Payment of dividends, $12,100 e. Depreciation expense, $24,700 f. g. Payments of income taxes, $15,400 h. a. Receipt from issuance of stock, $18,900 i. Payments to suppliers and employees, C. S67,500 j. Increase in inventories, $4,600 Collections from customers, $101,600 Required: Using the direct method, prepare the operating activities section of Smyczek's statement of cash flows

Operating Cash Flows: Direct Method The following are various cash flows and other information for Smycze Company: E5-10 LO 5.9 Payments of interest, $8,200 b. Receipt from sale of land, $7,900 Interest collected, S10,000 d. Payment of dividends, $12,100 e. Depreciation expense, $24,700 f. g. Payments of income taxes, $15,400 h. a. Receipt from issuance of stock, $18,900 i. Payments to suppliers and employees, C. S67,500 j. Increase in inventories, $4,600 Collections from customers, $101,600 Required: Using the direct method, prepare the operating activities section of Smyczek's 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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According to the information given in the table below, which of the following is cash flow from operating activities? Net income 95,000 Deprecation 38,000 Increase in Accounts Receivable 24,000 Decrease in Inventory 19,000 Increase in Accounts Payable 29,000 Select one: a. 173000 b. 157000 c. 145000 d. 119000
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $73,180 $89,960 Accounts receivable (net) 112,450 121,280 Inventories 160,640 150,320 Prepaid expenses 6,540 4,550 Equipment 327,220 269,310 Accumulated depreciation-equipment (85,080) (66,050) Total assets $594,950 $569,370 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $124,940 $119,000 Mortgage note payable 0 170,810 Common stock, $1 par 19,000 12,000 Paid-in capital: Excess of issue price over par-common stock 280,000 161,000 Retained earnings 171,010 106,560 Total liabilities and stockholders’ equity $594,950 $569,370 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Net income,…
Find cashflow from Financing activities
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $271,620 $255,000 Accounts receivable (net) 98,400 91,580 Inventories 277,770 271,170 Investments 0 105,050 Land 142,470 0 Equipment 306,470 239,730 Accumulated depreciation—equipment (71,750) (64,650) Total assets $1,024,980 $897,880 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $185,520 $176,880 Accrued expenses payable (operating expenses) 18,450 23,340 Dividends payable 10,250 8,080 Common stock, $10 par 55,350 44,000 Paid-in capital in excess of par—common stock 208,070 122,110 Retained earnings 547,340 523,470 Total liabilities and stockholders’ equity $1,024,980 $897,880 Additional data obtained from an examination of the accounts in the ledger for 20Y9…
Lee Company has provided the following information: • Cash flow from operating activities, $258,000 .Net Income, $186.000 • Interest expense, $38,000 Interest cash payments, $28,000 • Income tax payments, $158,000 Income tax expense, $154.000 Using the modified method discussed in the text, what was Lee's cash coverage ratio? . Multiple Choice O O 15.86 16.07 8.04 6.50
Net Cash Flow from Operating Activities The following are accounting items taken from Tyrone Shoelaces Company's records: E5-9 LO 5.9 Net income, $22,900 b. Payment for purchase of land, $4,000 Payment for retirement of bonds, $6,000 d. Depreciation expense, $7,800 e. Receipt from issuance of common stock, $7,000 Patent amortization expense, $2,700 g. Increase in accounts receivable, $3,400 h. Payment of dividends, $5,000 Decrease in accounts payable, $2,600 a. f. C. i. Required: Prepare the operating activities section of Tyrone's statement of cash flows using the indirect method.
Cash received from long-term notes payable Purchase of investments Cash dividends paid Interest paid Financing Activities $ 56,000 14, 200 Compute cash flows from financing activities using the above company information. Note: Amounts to be deducted should be indicated by a minus sign. $ 45,600 22,800 0
Statement of Cash Flow Preparation Activity Consider the following journal entries: Entry (a) cash $4 %$4 81,000.00 common stock 81,000.00 (b) treasury stock 13,000.00 cash 13,000.00 (c) cash 60,000.00 sales revenue 60,000.00 (d) land 87,700.00 cash 87,700.00 (e) depreciation expense 9,000.00 accumulated depreciation 9,000.00 (f) dividends payable 16,500.00 cash 16,500.00 (g) land 18,000.00 cash 18,000.00 (h) cash 7,200.00 7,200.00 equipment (1) bonds payable cash 45,000.00 45,000.00 (1) building 164,000.00 164,000.00 note payable, long-term (k) loss on disposal of equipment | 1,400.00 equipment, net 1,400.00 Indicate whether each transaction would result in an operating activity, an investing activity, or a financing activity for an indirect method statement of cash flow and the accompanying schedule of non-cash investing and financing activities. Click here to enter text. %24
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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 $305,280 $281,690 Accounts receivable (net) 110,590 101,170 Inventories 312,180 299,530 Investments 0 116,050 Land 160,130 0 Equipment 344,450 264,830 Accumulated depreciation—equipment (80,640) (71,410) Total assets $1,151,990 $991,860 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $208,510 $195,400 Accrued expenses payable (operating expenses) 20,740 25,790 Dividends payable 11,520 8,930 Common stock, $10 par 62,210 48,600 Paid-in capital in excess of par—common stock 233,850 134,890 Retained earnings 615,160 578,250 Total liabilities and stockholders' equity $1,151,990 $991,860 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and land…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $226,390 $211,080 Accounts receivable (net) 82,010 75,810 Inventories 231,510 224,450 Investments 0 86,960 Land 118,750 0 Equipment 255,440 198,450 Accumulated depreciation—equipment (59,800) (53,510) Total assets $854,300 $743,240 Liabilities and Stockholders' Equity Accounts payable $154,630 $146,420 Accrued expenses payable 15,380 19,320 Dividends payable 8,540 6,690 Common stock, $10 par 46,130 36,420 Paid-in capital: Excess of issue price over par-common stock 173,420 101,080 Retained earnings 456,200 433,310 Total liabilities and stockholders’ equity $854,300 $743,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
A B C D E xercise 2 Prepare a cash flow statement given the following information. Sales COGS Gross Profit Operating Exp. Rent Exp. Wage Exp. Depreciation Exp. Total Oper. Exp. Operating Income Gain on Sale Equip. Net Income 5 5 7 8 9 0 31 32 33 34 35 36 37 38 39 40 41 Your Co. Statement of Cash Flows Year Ending 20x9 Cash from Operations Jx Net Cash from Operations Cash from Investing Net Cash from Investing Cash from Financing Net Cash from Financing 80 320 40 800 160 640 440 200 120 320 X X X X X X X X X X X X X X X X X X F A/P decrease A/R increase Beg. cash balance. Bonds issued Dividends paid End. cash balance Inventory decrease Machine purchased Proceeds - sale of equipment Stock issued Wages payable increase G 40 80 96 800 16 440 120 1,600 320 400 200