PB2. LO 16.3 Use the following information from Grenada Company's financial statements to prepare the operating activitiessection of the statement of cash flows (indirect method) for the year 2018.2018 IncomeStatementBalance Sheets$ 286,000(159,000)(77,500)(9,500)14,200SalesCost of Goods SoldOperating Expenses, other than depreciation expenseDepreciation ExpenseGain on Sale of InvestmentsNet Income54,200Dec. 31, 2018$16,5007,400Accounts ReceivableAccounts PayableDec. 31, 2017$18,2508,800Accounts ReceivableAccounts Payable

Name: PB2. LO 16.3 Use the following information from Grenada Company's fin
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: PB2. LO 16.3 Use the following information from Grenada Company's financial statements to prepare the operating activitiessection of the statement of cash flows (indirect method) for the year 2018.2018 IncomeStatementBalance Sheets$ 286,000(159,000)

Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

Business

Accounting

PB2. LO 16.3 Use the following information from Grenada Company's financial statements to prepare the operating activities ection of the statement of cash flows (indirect method) for the year 2018. 2018 Income Statement Balance Sheets $ 286,000 (159,000) (77,500) (9,500) 14,200 54,200 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Investments Net Income Dec. 31, 2018 $16,500 7,400 Accounts Receivable Accounts Payable Dec. 31, 2017 $18,250 8,800 Accounts Receivable Accounts Payable

PB2. LO 16.3 Use the following information from Grenada Company's financial statements to prepare the operating activities ection of the statement of cash flows (indirect method) for the year 2018. 2018 Income Statement Balance Sheets $ 286,000 (159,000) (77,500) (9,500) 14,200 54,200 Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Investments Net Income Dec. 31, 2018 $16,500 7,400 Accounts Receivable Accounts Payable Dec. 31, 2017 $18,250 8,800 Accounts Receivable Accounts Payable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

what's the mistake in this cashflow statement
Problem 4: Following are the comparative statements of financial position of CPA Company to add in preparing a statement of cash flows: ● CPA Company Statement of Financial Position December 31, 2021 and 2020 Assets Cash and cash equivalents Financial assets at FVPL Accounts receivable Inventory Long-term investments Property, plant and equipment Less: accumulated depreciation Patents Less: accumulated amortization Total assets Liabilities and Equity Accounts payable Income tax payable 12% bonds payable Less: discount on bonds payable Ordinary share capital Retained earnings The following events took place in 2021: 2021 P900,000 2020 P620,000 300,000 400,000 1,956,500 1,445,000 3,050,000 3,200,000 1,000,000 1,250,000 9,000,000 8,000,000 (2,200,000) (2,000,000) 600,000 600,000 (100,000) P14,606,500 P13,415,000 P2,200,000 P1,900,000 34,500 45,000 4,000,000 4,000,000 (250,000) (300,000) 7,500,000 6,500,000 1,122,000 1,270,000 P14,606,500 P13,415,000 CPA Company declared and paid cash…
Question Content Area The following information is available from the current period financial statements: Net income $102,978 Depreciation expense 26,870 Increase in accounts receivable 15,293 Decrease in accounts payable (29,031) The net cash flows from operating activities using the indirect method is a. $174,172 b. $85,524 c. $102,978 d. $31,784
01. Flounder Ltd. reported 2022 net income of HK$190,260. During 2022, accounts receivable increased by HK$16,380 and accounts payable increased by HK$11,970. Depreciation expense was HK$55.440 Prepare the cash flows from operating activities section of the statement of cash flows (amounts in thousands).
Calculate the free Cash Flow ratio
Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 102,700 $ 52,000 Accounts receivable, net 77,000 59,000 Inventory 71,800 98,500 Prepaid expenses 5,200 7,000 Total current assets 256,700 216,500 Equipment 132,000 123,000 Accumulated depreciation—Equipment (31,000) (13,000) Total assets $ 357,700 $ 326,500 Liabilities and Equity Accounts payable $ 33,000 $ 42,000 Wages payable 6,800 16,600 Income taxes payable 4,200 5,400 Total current liabilities 44,000 64,000 Notes payable (long term) 38,000 68,000 Total liabilities 82,000 132,000 Equity Common stock, $5 par value 236,000 168,000 Retained earnings 39,700 26,500 Total liabilities and equity $ 357,700 $ 326,500 IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales…
EB8. LO 16.3 Use the following information from Kentucky Company's financial statements to determine operating net cash flows (indirect method). $176,000 18,750 15,000 12,000 5,500 Net income Depreciation expense Gain on sale of plant assets Increase in accounts receivable Decrease in accounts payable
Required Information Exercise 12-12 (Static) Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets 2021 2020 $ 87,500 65,000 $ 44,000 51,000 86,500 At June 30 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment 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 IKIBAN INCORPORATED Income Statement 63,800 4,400 5,400 220,700 186,900 124,000 (27,000) $ 317,700 $ 25,000 115,000 (9,000) $292,900 $ 30,000 15,000 3,800 6,000 3,400 34,400 48,800 30,000 60,000 64,400 108,800 220,000 160,000 33,300 $317,700 24,100…
determine operating cash flow
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts Receivable Inventory Current Assets Accum.Depreciation Net Fixed Assets Gross Fixed Assets $16,251,665 $20,567,330 Less $7,460,897 $10,117,819 Total Assets O 11.58% O 44.90% O 8.37% $5,268,485 $10,268,485 O 4.35% $2,574,230 $2,314,672 O 6.02% $529,062 $696,685 $8,371,777 $13,279,842 Total Liabilities and Equity What is the common size value for 2022 Notes Payable? $8,790,768 $10,449,511 $17,162,545 $23,729,353 Current Liabilities 2021 Accounts Payable Notes Payable $1,033,110 $1,987,233 2022 $1,673,992 $2,438,271 $2,707,102 $4,425,504 Long Term Debt $9,242,830 $11,468,302 Total Liabilities $11,949,932 $15,893,806 Common Stock ($0.50 par) $1,300,000 $1,600,000 Capital Surplus $1,148,120 $1,800,969 Retained $2,764,493 $4,434,578 Earnings $17,162,545 $23,729,353
A draft statement of cash flows contains the following: £ i Profit before tax 22 ii Depreciation 8 iii Increase in inventories -4 iv Decrease in receivables -3 v Increase in payables -2 Net cash inflow from operating activities 21 Which Two of the following corrections needs to be made to the calculation? a. ii and v b. iv and iii c. i and ii d. iv and v
EB4. LO 16.3 Use the following information from Hamlin Company’s financial statements to determine operating net cash flows (indirect method). Net Income $113,750 Change in accumulated depreciation (no sale of depreciable assets this year) $9,800 Gain on sale of investments $11,400