PA12-1 Determining Cash Flow Statement Effects of Transactions [LO 12-1] Motif Furniture is an Austin-based furniture company. For each of the following first-quarter transactions, indicate whether operating (0), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-), or (NE) if the transaction has no effect on cash. Transaction Activity Cash Flow 1. Bought used equipment for cash. 2. Paid cash to purchase new equipment. 3. Declared and paid cash dividends to stockholders. 4. Collected payments on account from customers. 5. Recorded and paid interest on debt to creditors. 6. Repaid principal on loan from bank. 7. Prepaid rent for the following period. 8. Made payment to suppliers on account.

PA12-1 Determining Cash Flow Statement Effects of Transactions [LO 12-1] Motif Furniture is an Austin-based furniture company. For each of the following first-quarter transactions, indicate whether operating (0), investing (I), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-), or (NE) if the transaction has no effect on cash. Transaction Activity Cash Flow 1. Bought used equipment for cash. 2. Paid cash to purchase new equipment. 3. Declared and paid cash dividends to stockholders. 4. Collected payments on account from customers. 5. Recorded and paid interest on debt to creditors. 6. Repaid principal on loan from bank. 7. Prepaid rent for the following period. 8. Made payment to suppliers on account.

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 86,000 Deprecation 31,500 Increase in Accounts Receivable 18,600 Decrease in Inventory 14,300 Increase in Accounts Payable 24,600 Select one: a. 146400 b. 137800 c. 148200 d. 152600 العربية الإنجليزية
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ts eBook Print ferences Required information [The following information applies to the questions displayed below.] Green Brands, Incorporated (GB) presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from GBI's Year 2 and Year 1 year-end balance sheets: Account Title Accounts receivable Merchandise inventory. Prepaid insurance Accounts payable Salaries payable Unearned service revenue The Year 2 income statement is shown next: Sales Cost of goods sold Gross margin Service revenue Insurance expense Salaries expense Income Statement Depreciation expense Operating income Gain on sale of equipment Net income Year 2 $ 22,300 57,000 18,800 24,200 4,800 800 Year 1 $ 28,500 48,600 24,400 16,500 4,000 3,000 $ 616,000 (380,000) 236,000 4,200 (39,000 (151,000) (5,400) 44,800 3,300 $ 48,100 b. Prepare the operating activities section of the statement of cash flows using the indirect method for Year 2. Note: Amounts to be…
View previous at Required information Assume a company prepares the statement of cash flows using the indirect method. The company purchases its Inventory on credit from suppliers. How should a decrease in accounts payable be reflected In the section that reconciles net income to cash flow from operating activitles? Multiple Choice It would be added if the section starts with net income and subtracted if it starts with a net loss It would be added in reconciling net income to cash flow from operafing activities It would be subtracted in reconciling net income to cash flow from operating activities A change in accounts payable does not affect the reconciliation of net income to cash flow from operating activities < Prev 15 of 15 Next Form 1040Sch...pdf 6 Form1040 Sch...pdf B1040 Sohedul...pdf Form8829 (1).pdf MacBook Air
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TB MC Qu. 12-133 In preparing a company's statement... In preparing a company's statement of cash flows using the Indirect method, the following information is available: Net income Accounts payable increased by Accounts receivable decreased by Inventories increased by Depreciation expense Net cash provided by operating activities was: Multiple Choice $120,000. $60,000. $70,000. $80,000. $130,000. $52,000 18,000 25,000 5,000 30,000
QS 12-7 (Algo) Indirect: Computing cash from operations LO P2 A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long-term) Total liabilities. Equity Common stock, $5 par value Retained earnings Total liabilities and equity Sales Cost of goods sold Gross profit 2021 $ 72,900 31,300 65,600 4,000 173,800 80,600 (12,500) $ 241,900 $ 11,400 6,800 1,200 19,400 24,800 44,200 170,300. 27,400 $ 241,900 CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income Required: 2020 $ 18,100 38,400 72,100 3,300 131,900 93,500…
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Prepare cash flows using direct method. Thanks. One Stop Corporation Statement of Cash Flows Year Ended June 30, 2018 Cash Flows from Operating Activities: Receipts: Total Cash Receipts Payments: Total Cash Payments Net Cash Provided by (Used for) Operating Activities Collections from customers $17,000 more than sales dividend revenue, interest expense, and income tax expense equal cash amounts. payments to suppliers are sum of cost of goods sold plus advertising expense. d payments to employees are $1,500 more than salaries expense. Cash payment for acquisition of plant assets is $103,000. cash receipts from sale of land total $24,000 cash receipts from issuance of common stock total $33,000 PAYMENT OF long term notes payable $11,000 payment of dividends is $12,500 cash balance at June 30, 2017 was $26,000 at June 30, 2018 was $40,000 One stop corporation Income statement Year ended June 30, 2018 net sales revenue…