ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheet accounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium on bonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000 decrease; Deferred tax liability - 150,000 increase. In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?

ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheet accounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium on bonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000 decrease; Deferred tax liability - 150,000 increase. In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

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In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts receivable, a 7,000 increase in inventory, an 8,000 increase in salaries payable, a 13,000 decrease in accounts payable, and 10,000 in depreciation expense. Using the indirect method, prepare the operating activities section of its statement of cash flows based on this information.
Cancun, Inc. reported net income of P23,498,632 for 2020. Changes occurred in several balance sheet accounts during 2020 as follows. In Cancun's 2020 cash flow statement, the reported net cash provided by operating activities should be * Investment in Videogold, Inc. stock, carried on the equity basis Accumulated depreciation, caused by major repair to projection equipment Premium on bonds payable Deferred income tax liability (long-term) P2,342,349 increase 1,762.438 decrease 3,432,223 decrease: 762,345 increase Your answer
Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020 by using indirect method.
In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?( IF cash INFLOW, leave the numerical figure as positive, if cash OUTFLOW, put a negative sign (-) before the numerical figure)
Cadilo corp has reported net income of P186,600 for 2020. The corp also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use indirect method.
Suppose Hopewell Corporation has the following results related to cash flows for 2019: Net Income of $8,600,000 Decrease in Accounts Payable of $100,000 Decrease in Accounts Receivable of $400,000 Increase in Debt of $200,000 Depreciation Expenses of $1,900,000 Purchases of Property, Plant, & Equipment of $7,800,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands. What is the Net Cash Flow?
Net cash flow from operating activities for 2021 for Vaughn Manufacturing was $497000. The following items are reported on the financial statements for 2021: Depreciation and amortization $ 31000 Cash dividends paid on common stock 18400 Increase in accounts receivable 35500 Based only on the information above, Vaughn’s net income for 2021 was:
Flint Corporation reported net income of $47,200 in 2020. Depreciation expense was $17,000. The following working capital accounts changed. Accounts receivable $10,200 increase Available-for-sale debt securities 15,900 increase Inventory 6,900 increase Nontrade note payable 13,500 decrease Accounts payable 12,300 increase Compute net cash provided by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
The following information is available for Bernard Corporation for 2019: Net income $185,200 Decrease in accounts receivable 8,300 Increase in inventory 19,900 Decrease in prepaid rent 4,410 Increase in salaries payable 7,100 Decrease in income taxes payable 3,870 Increase in notes payable (due 2023) 50,000 Depreciation expense 52,700 Loss on disposal of equipment 6,450 Required: Compute the net cash flows from operating activities using the indirect method.
Renzo Company reported net income of $196,600 for 2020. Renzo also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method.
Sheffield Corp. reported net income of $193,100 for 2019. Sheffield also reported depreciation expense of $45,100 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $19,600 for the year, a $21,600 increase in accounts payable, and a $3,400 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2019. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Below are summary numbers for 2020 and 2021 for S-Mart Ltd. (in million dollars). 2020- 2021 Operating assets Cash equivalente Operating liabilitiese Long-term debt financinge 17,000- 400 3,880 4,374 19,000- 510 4,050 5,496e Operating income (after tax)< Net financial expense (after tax)<- 2,200e 690 Calculate S-Mart's free cash flow in 2021 using both Method 1 and Method 2.4 (Hint: Method 1 focuses on the source of free cash flow; Method 2 focuses on the disposition of free cash flow.)-