Calculate 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 represents…

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...

See similar textbooks

Similar questions

Assume net income was $230,000, depreciation expense was $6,400, accounts receivable decreased by $11,500, and accounts payable decreased by $3,100. The amount of net cash flows from operating activities is: Multiple Choice $223,600. $244,800. $230,000. $236,400.
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% =
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.
Please Provide Answer
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.
Question 6 So Long, Inc, has sales of $334,000, costs of $145,400, depreciation expense of $63,200 and interest expense of $22,300. If the tax rate is 35%, (a) What is the operating cash flow or OCF? (b) Explain why interest paid is not a component of operating cash flow.
Answer in 20 minutes The following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595)The net cash flows from operating activities using the indirect method is a.$126,307b.$113,887c.$66,591d.$186,023
Which item is added to net income when computing cash flows from operating activities? a. Gain on the disposal of property, plant, and equipment b. Increase in wages payable c. Increase in inventory d. Increase in prepaid rent Use the following information for Multiple-Choice Questions 11-9 and 11-10: Cornett Company reported the following information: cash received from the issuance of common stock, $150,000; cash received from the sale of equipment, $14,800; cash paid to purchase an investment, $20,000; cash paid to retire a note payable, $50,000; and cash collected from sales to customers, $225,000.
A machine with a cost of $175,000 and accumulated depreciation of $94,000 is sold for $87,000 cash. The amount reported as a source of cash under cash flows from investing activities is:
Requirements Calculate the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, were $106,000 and $101,000, respectively. Depreciation for the period was $18,000, and purchases of new plant assets were $26,000. Plant assets were sold at a gain of $5,000. What were the cash proceeds of the sale? b. Beginning and ending Retained Earnings were $44,000 and $70,000, respectively. Net income for the period was $46,000, and stock dividends were $6,000. How much were the cash dividends? Requirement a. Beginning and ending Plant Assets, Net, were $106,000 and $101,000, respectively. Depreciation for the period was $18,000, and purchases of new plant assets were $26,000. Plant assets were sold at a gain of $5,000. What were the cash proceeds of the sale? Cash proceeds from the sale were

SEE MORE QUESTIONS

Recommended textbooks for you

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

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

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS