please answer Required:(1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted shouldbe indicated with a minus sign.)Cash flows from operating activitiesAdjustments to reconcile net income to net cash provided by operating activitiesIncome statement items not affecting cashChanges in current operating assets and liabilitiesCash flows from investing activitiesIKIBAN, INCORPORATEDStatement of Cash Flows (Indirect Method)For Year Ended June 30, 2021Cash flows from financing activitiesNet increase (decrease) in cashCash balance at prior year-endCash balance at current year-end$$$00000 At June 30AssetsCashAccounts receivable, netInventoryPrepaid expensesTotal current assetsEquipmentAccumulated depreciation-EquipmentTotal assetsLiabilities and EquityAccounts payableWages payableIncome taxes payableTotal current liabilitiesNotes payable (long term)Total liabilitiesEquityCommon stock, $5 par valueRetained earningsTotal liabilities and equitySalesCost of goods soldGross profit2021Other gains (losses)Gain on sale of equipmentIncome before taxesIncome taxes expenseNet income$ 103,30075,50070,8005,100Additional Information254,700131,000(30,500)$ 355,200$ 32,0006,7004,100IKIBAN INCORPORATEDIncome StatementFor Year Ended June 30, 202142,80037,00079,800234,00041,400$ 355,200Operating expenses (excluding depreciation)Depreciation expense2020$ 51,00058,00097,0006,800212,800122,000(12,500)$ 322,300$ 40,50016,4005,20062,10067,000129,100167,00026,200$ 322,300$ 713,000418,000295,00074,00065,600155,4002,700158, 10044,590$ 113,510a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash.b. The only changes affecting retained earnings are net income and cash dividends paid.c. New equipment is acquired for $64,600 cash.d. Received cash for the sale of equipment that had cost $55,600, yielding a $2,700 gain.e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.f. All purchases and sales of inventory are on credit.

Name: please answer Required:(1) Prepare a statement of cash flows using the
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: please answer Required:(1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted shouldbe indicated with a minus sign.)Cash flows from operating activitiesAdjustments to reconcile net in

The indirect cash flow method calculates cash flow by adjusting net income with differences from…

Answered: Required: (1) Prepare a statement of…

Business

Accounting

Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus sign.)

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

Category Accounts payable Accounts receivable Accruals Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Net fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,106.00 5,972.00 6,919.00 8,940.00 5,691.00 6,099.00 20,212.00 13,343.00 ??? ??? 2,850 18,751.00 500 2,850 22,826.00 500 965.00 1,016.00 1,259.00 1,123.00 3,086.00 6,750.00 16,982.00 22,296.00 75,731.00 73,844.00 4,053.00 6,596.00 19,950 20,000 35,937.00 34,762.00 46,360 45,530.00 350 920 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.
man.3
8 )
10 )
Given the data in the following table, accounts receivable in 2023 was…
How to calculate gross profit percentage will be mItaned
O Accounts payable Accounts receivable Accruals Category Additional paid in capital Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt Not fixed assets Notes payable Operating expenses (excl. depr.) Retained earnings Sales Taxes Prior Year Current Year 3,153.00 5,992.00 6,936.00 9,031.00 5,792.00 6,116.00 20,429.00 13,896.00 ??? Category 222 2,850 22,561.00 500 952.00 4,008.00 46,360 350 What is the firm's cash flow from financing? 1,259.00 1,120.00 3,060.00 6,658.00 16,820.00 22,100.00 75,431.00 74,071.00 6,567.00 19,950 20,000 35,524.00 34,531.00 45,432.00 2,850 Submit 18,594.00 500 1,019.00 920 Answer format: Number: Round to: 0 decimal places
Use the following information to complete the Financial Statements a. Average collection period of 55 days Total equity is $2,250,000 C. Return on Equity of 12% d. Total assets turnover of 1.248 е. Gross profit margin of 40% f. Curren ratio of 3.5 g. Long term liabilities are $1,514,422.5 h. Initial inventory was $1,000,000 and the inventory turnover is 3 times i. The debt ratio (liabilities to assets) is 48% Income Statement Sales Cost of goods sold Gross profit Expenses and taxes Net profit b.
Given the data in the following table, the entry for Inventories on the 2023 common-sized balance sheet was %.
Calculate the activity and liquidity ratios for P for the year ended 31 December 20X9. Revenue Gross profit Inventory Trade receivables Trade payables Cash Short-term investments Other current liabilities $m 1,867.5 489.3 147.9 393.4 275.1 53.8 6.2 284.3 Current ratio= Current assets Current liabilities Inventory days Inventory days = inventory+ cost of sales × 365 Receivable days Receivable days - receivables + credit sales x 365 Payable days Payable days = payables ÷ credit purchases x 365.
subject. financial management. please help.
Assets Cash S.T. Investments Accts Receivable Inventories Total Current Assets Net PP&E Total Assets Liabilities. Accts Payable Notes Payable Accruals Balance Sheet Current Liabilities L.T. Bonds Preferred Stock Common Stock Retained Earnings Total Equity Total Liab. & Equity Less: Interest 2021 120 30 400 Pre-tax Earnings 1,200 1,750 3,000 4,750 100 100 300 500 520 200 530 3,000 3,530 4,750 Net Sales COGS except Dep Depreciation & Amortization Other Operating Expenses EBIT Income Statements 2021 5,500 3,800 180 600 920 60 860 215 Taxes (25%) Preferred Dividends 15 Net Income for CS Holders 630 2020 $102 40 384 774 1. What is the company's MVA? 2. What is the company's EVA in? 3. What is the current ratio of the Company? 1,300 1,780 3,080 180 28 370 578 350 100 500 1,552 2,052 3,080 Number of Common Stock Outstanding = 1,200 Price of Common Stock = 4.00 WACC Cost of Capital = 12.0% Return on Investment (ROI)= 15.97% 2020 4,800 3,710 180 470 440 40 400 100 7 293