Step by step Answer Question: 22Calculate the amount of cash flow from operating activities from the followinginformation. Cash received from customers is $420,000, cash paid for wages and expensesis $230,000, depreciation of motor vehicles is $24,000, cash received from the sale ofequipment is $25,000, and gain on the sale of the equipment is $23,000.

Explanation of Cash Flow from Operating Activities:Cash flow from operating activities refers to the…

Answered: Question: 22 Calculate the amount of…

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 8MCQ: Which item is added to net income when computing cash flows from operating activities? a. Gain on...

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Burch Company Income Statement For the year ended December 31 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (26,400) Other expenses (35,000) Income tax expense (12,000) Net income $16,600 Required: Compute the net cash flows from operating activities using the indirect method. 33,200 X
A machine with a cost of $146,000, accumulated depreciation of $93,000, and current year depreciation expense of $21,000 is sold for $46,400 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,600. $6,600. $21,000.
Calculate the total cash flow from the operating activity based on the following information. Sales $280.00 Cost of goods sold = $160.00 Depreciation = $35.00 Interest paid = $20.00 Tax rate = 35% =
A machine with a cost of $144,000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
8. State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:12. Sweeter Enterprises Inc. has cash flows from operating activities of $300,000. Cash flows used for investments in property, plant, and equipment totaled $63,000, of which 60% of this investment was used to replace existing capacity.
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Balance of Cash after AJE (in unit dollars, two decimal places, use standard accounting rounding): After completing Part C of the term project you have the following: Revenue 100,000.00 15,000.00 45,000.00 CGS Costs Depreciation 15,000 Salaries 30,000 Net Income Assets Cash 40,000.00 110,000.00 20,000.00 Equipment 100,000.00 AD Equipment (10,000.00) Answer: Liabilities 70,000.00 Salaries Payable 70,000.00 Net Income 40,000.00 Total Liabilities + OE 110,000.00
Part A. Complete the following matrix to calculate Operating Cash Flows for 20X2. Income Statement Adjustments Statement of Cash Flows Sales $ 3,000 Gain on Sale of Equipment 35 Cost of Goods Sold (2,000) Insurance Expense (655) Depreciation Expense (100) Net Income $ 280 Part B. Prepare the Investing Section of the Statement of Cash Flows for 20X2. Remember, you will need to calculate the cash PAID to purchase new equipment, and the cash RECEIVED from the sale of old equipment. Part C. Prepare the Financing Section of the Statement of Cash Flows for 20X2.
Ee.65.
How much is the net cash from (used in) operating activities?

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