None Problem 2-10 Calculating Cash FlowsThe 2020 balance sheet of Osaka's Tennis Shop, Incorporated, showed long-term debtof $6.3 million, and the 2021 balance sheet showed long-term debt of $6.55 million. The2021 income statement showed an interest expense of $220,000. The 2020 balancesheet showed $620,000 in the common stock account and $3.6 million in the additionalpaid-in surplus account. The 2021 balance sheet showed $660,000 and $4.1 million inthe same two accounts, respectively. The company paid out $615,000 in cash dividendsduring 2021. Suppose you also know that the firm's net capital spending for 2021 was$1,480,000, and that the firm reduced its net working capital investment by $91,000.What was the firm's 2021 operating cash flow, or OCF? (Do not round intermediatecalculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)Operating cash flow

The problem requires the determination of the OCF or the Operating Cash Flows. Operating cash flow…

Answered: Problem 2-10 Calculating Cash Flows The…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 32BE

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please answer in good accounting form thankyou 15. What is the net cash used in investing activities?
Prepare an indirect Cash flow statement
Problem 4 Ahw Tsu prepares financial statements on the cash basis. The statement of financial position on December 31, 2020 and the income statement for the current year are as follows: Cash P1,500,000 2,500,000 P4,000,000 Furniture and equipment Note payable Capital: Balance, January 1 Add: Net income P1,000,000 P1,600,000 2,250,000 P3,850,000 850,000 Less: Withdrawals 3,000,000 P4,000,000 Professional fees P5,000,000 Expenses: Rent P1,200,000 800,000 Supplies Other expenses Net income 750,000 2,750,000 P2,250,000 It was decided that the financial statements should be prepared on the accrual basis. Relevant information is as follows: 1) The furniture and equipment were acquired on July 1, 2019. The estimated life is 10 years. 2) The 12% promissory note us dated April 1, 2020 and matures in one year. Interest is payable on the date of maturity. 3) The accounts receivable as at December 31, 2020 and 2019 is P750,000 and P500,000, respectively. 4) Accrued rent on December 31, 2020,…
Question No. 1 Cash Flow Statement The comparative balance sheets of Kennewick Inc. are shown below: Balance Sheet December 31 2019 2020 ∆ Cash $ 430,000 $ 300,000 (130,000) Accounts receivable 820,000 900,000 80,000 Inventory 975,000 1,100,000 125,000 Capital assets 5,200,000 5,800,000 600,000 Accumulated amortization (3,825,000) (4,025,000) (200,000) Capital assets-net 1,375,000 1,775,000 400,000 Total assets $ 3,600,000 $ 4,075,000 Accounts payable $ 955,000 $ 900,000 (55,000) Accrued liabilities 145,000 152,000 7,000 Dividend Payable - 8,000 8,000 Bonds payable 1,300,000 1,000,000 (300,000) Mortgage payable 500,000 800,000 300,000 Common stocks 450,000 740,000 290,000 Retained earnings 250,000 475,000 225,000 Total liabilities and stockholders’ equity $ 3,600,000 $…
Please answer in good accounting form thankyou 14. What is the net cash provided by operating activities?
Briefly comment on the company’s cash flows for 2022 in light of an expansion plan which will be financed by both debt and equity.
Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 139,500 Accounts receivable 33,200 35,000 Inventory 200,600 175,500 Prepaid Expenses 22,000 25,000 Long term Investments 300,000 420,000 Plant, Property and Equipment (net) 250,000 205,000 Accounts payable 98.600 105,000 Short term notes payable 62,000 40,000 Taxes payable 35.600 13.500 Long term liabilities 134,000 140,000 Stockholders Equity 628.000 701.500
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Problem #1 The following balance sheet and income statement data is given: 31-Dec Yr 2021 Yr 2020 Cash $4,300 $3,700 Accounts receivable (net) 22,000 23,400 Inventories 10,000 7,000 Plant assets (net) 75,000 86,000 Total assets 111,300 120,100 Accounts payable 12,370 11,100 Bonds payable 70,000 70,000 Total liabilities 82,370 81,100 Common stock, $10 par 65,000 59,000 Paid-in capital 10,000 10,000 Retained earnings 24,300 20,600 Total stockholders’ equity 99,300 89,600 Net credit sales 100,000 Cost of goods sold 60,350 Gross profit 39,650 Net income 14,000 REQUIRED: Compute the following ratios for 2021. NOTE: Copy and paste the information below into the answer box first and then show your calculation steps for this problem to receive credits. (1) Accounts receivable turnover=____________________ (2) Inventory turnover=__________________ (3) Accounts payable…
Free Cash Flows Rhodes Corporation’s financial statements are shown below. Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019 Sales $ 13,000 $ 11,000 Operating costs excluding depreciation 11,604 9,684 Depreciation and amortization 340 320 Earnings before interest and taxes $ 1,056 $ 996 Less interest 180 100 Pre-tax income $ 876 $ 896 Taxes (25%) 219 224 Net income available to common stockholders $ 657 $ 672 Common dividends $ 201 $ 200 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019 Assets Cash $ 550 $ 500 Short-term investments 110 100 Accounts receivable 2,750 2,500 Inventories 1,450 1,300 Total current assets $ 4,860 $ 4,400 Net plant and equipment 3,850 3,500 Total assets $ 8,710 $ 7,900 Liabilities and Equity Accounts payable $ 1,100 $ 1,000 Accruals 550…
Oriole Company Balance Sheets December 31 Assets Cash Receivables (net) Other current assets 2022 2021 $28,400 $20,800 77,000 61,500 67,100 53,700 Long-term investments 62,200 61,000 Property, plant, and equipment (net) 610,000 488,000 Total assets $844,700 685,000 Liabilities and Stockholders' Equity. Current liabilities $75,000 $68,000 Long-term liabilities 84,500 96,000 Common stock 333,000 298,500 Retained earnings 352,200 222,500 Total liabilities and stockholders' equity $844,700 $685,000 Oriole Company Income Statements For the Years Ended December 31 2022 2021 Sales revenue $775,940 $674,200 Cost of goods sold 448,000 401,000 Operating expenses (including income taxes) 256,000 218,000 Net income $71,940 $55,200 Additional information: Net cash provided by operating activities $88,400 $60,000 Cash used for capital expenditures $39,500 $41,000 Dividends paid $30,000 $13,000 Weighted-average common shares outstanding 33,000 30,000 Compute these values and ratios for 2021 and 2022…
A company reported the following information: 2020 2019 Accounts receivable $50,000 $65,000 Inventories 43,000 40,000 Accounts payable 29,000 39,000 Net income 100,000 Depreciation expense 11,000 If the indirect method is used to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2020? a.$92,000 b.$109,000 c.$111,000 d.$113,000

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