Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the direct method. (Amounts to be deducted should be indicated with a minus sign.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Net cash flows from operating activities $ 0
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Portions of the financial statements for Peach Computer are provided below.
PEACH COMPUTER | ||
Income Statement | ||
For the year ended December 31, 2024 | ||
Net sales | $1,625,000 | |
---|---|---|
Expenses: | ||
Cost of goods sold | $980,000 | |
Operating expenses | 490,000 | |
43,000 | ||
Income tax expense | 33,000 | |
Total expenses | 1,546,000 | |
Net income | $79,000 |
PEACH COMPUTER | ||||
Selected Balance Sheet Data | ||||
December 31 | ||||
2024 | 2023 | Increase (I) or Decrease (D) | ||
---|---|---|---|---|
Cash | $95,000 | $81,500 | $13,500 | (I) |
Accounts receivable | 46,700 | 52,500 | 5,800 | (D) |
Inventory | 68,000 | 51,500 | 16,500 | (I) |
Prepaid rent | 2,300 | 3,600 | 1,300 | (D) |
Accounts payable | 38,000 | 33,500 | 4,500 | (I) |
Income tax payable | 4,300 | 6,500 | 2,200 | (D) |
Required:
Prepare the operating activities section of the statement of
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- Preparing a Statement of Cash Flows Volusia Company reported the following comparative balance sheets for 2019: Required: Prepare a statement of cash flows for Volusia using the indirect method to compute net cash flow from operating activities.Use a spreadsheet and the following financial information from Mineola Companys financial statements to build a template that automatically calculates the net operating cash flow. It should be suitable for use in preparing the operating section of the statement of cash flows (indirect method) for the year 2018.Prepare a schedule of net cash provided by operating activities. - Prepare the Operating Activities Section of a Statement of Cash Flows using the Indirect. ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sig Calibri -11 A A % Alignment Number Conditional Format as Cell Formatting Table Styles Paste BIU Cells Editing Clipboard Font Styles A1 fe The following information is for FloorCo, Inc. for the year just ended: A B D E G 1 The followng information is for FloorCo, Inc. for the year just ended: 3 Beginning of 4 End of year year 5 Current assets: Cash 75,000 $ 90,000 7. Accounts receivable 158,000 140,000 8 Inventory 285,000 246,000 9. Prepaid expenses 11,000 16,000 10 11 Current liabilities 12 Accounts payable 284,000 302,000 13 Accrued liabiities 9,500 11,200 14 Income taxes payable 27,000 24,000 15 16 Net income 2$ 94,500 17 18 Accumulated depreciation 19 total credits 45,000 20 21 Floor Company did not record any gains or losses during the year. 22 23 Prepare a schedule…
- PARNELL COMPANY Income Statement For the Year Ended December 31, 2021 ($ in thousands) Revenues and gains: Sales $890 11 $901 Gain on sale of building Expenses and loss: Cost of goods sold Salaries $ 345 129 53 Insurance 132 Depreciation Interest expense Loss on sale of equipment 59 13 731 170 Income before tax 85 Income tax expense $ 85 Net income PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2021 and 2020 ($ in thousands) Year Change $ 61 2021 2020 Cash 152 91 Accounts receivable Inventory 342 207 135 312 57 228 120 78 181 (131) (49) 120 36 17 (37) 443 Prepaid insurance Accounts payable Salaries payable Deferred tax liability Bond discount 106 108 84 61 218ory Bookmarks Profiles Tab YouTube Mc Graw Hill ation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252FI... Classes N Netflix Dashboard EDU 1011 (2019-F... G Annotated Bibliog... 1 Required information [The following information applies to the questions displayed below.] 10 Q A Expenses prior years follow. Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and S (2 LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income 2 2 At December 31 Accounts receivable Inventory Accounts payable Salaries payable SOF Utilities payable Prepaid insurance Prepaid rent W S # Window Help 3 LANSING COMPANY Selected Balance Sheet Accounts 20 F3 □ (20 (2 E D $ 4 $ 127,200 Current Year $ 6,600 2,980 5,400 1,080 OOD DOD F4 52,000 17,000 28,000 10,000 R 4,800…Compute the partial statement of cash flows for the year ended December 31, 2018, s computation of net cash flows from operating activities by the indirect method. Bela template to help you structure your answer but you can simply list out the specific ty sources and uses of cash (including the amounts) from operating activities and add u amounts, if you prefer (use reverse side of paper if more space needed):
- The income statement and the cash flows from operating activities section of the statement of cash flows are provided below for Syntric Company. The merchandise inventory account balance neither increased nor decreased during the reporting period. Syntric had no liability for insurance, deferred income taxes, or interest at any time during the period. Sales Cost of goods sold Gross margin Salaries expense Insurance expense Depreciation expense Depletion expense Interest expense Gains and losses: Gain on sale of equipment Loss on sale of land Income before tax Income tax expense SYNTRIC COMPANY Income Statement For the Year Ended December 31, 2024 ($ in thousands) Net income Cash Flows from Operating Activities: Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for interest Cash paid for insurance Cash paid for income tax Net cash flows from operating activities $35.0 16.9 9.0 3.4 10.4 $ 271.7 (168.8) 102.9 (74.7) 19.0 (6.4) 40.8 (20.4) $ 20.4 $225.0…6zOshLaGsSzvcHy9vKm0jUnAg/formResponse?pli=1 * Required Consider the following selected financial information for Aishti company. Aishti Company Income Statement For the Year Ended December 31, 2020 Aishti Company Balance Sheet For the Year Ended December 31, 2019 & 2020 2020 2019 Assets Cash Accounts Receivable Inventories $2,415 $5,040 Revenues $94.300 $5,355 $6,195 $10,290 $10,080 Less: Depreciation expense $6.825 Plant & Equipment Less: Acc. Depreciation Total Assets $22,575 ($15,960) ($9,135) S35,070 $32,970 Less: Other operating expenses 74,560 $34,755 Less: Interest Expense 3,990 Liabilities & O/E Accounts Payable Income Tax Payable Long-Term Debt Common Stock Retained Earmings Total Liabilities and 0/E $3,885 $1,260 $9,555 $11,550 $8.820 $35,070 S5,775 $2,940 $8,715 $14,175 $3,150 $34,755 Income before income taxes $9,135 Income tax expense $3.197 Net income $5,938 1. Using the indirect method of cash flow statement, what is the net dashExercise 21-27 (Algo) Statement of cash flows; direct method [LO21-3, 21-5, 21-6, 21-8] Comparative balance sheets for 2021 and 2020, a statement of Income for 2021, and additional information from the accounting records of Red, Inc., are provided below. RED, INC. Comparative Balance Sheets December 31, 2021 and 2020 ($ in millions) 2021 Assets Cash Accounts receivable Prepaid insurance Inventory Buildings and equipment Less: Accumulated depreciation Liabilities Accounts payable Accrued liabilities Notes payable Bonds payable Shareholders' Equity Common stock Retained earnings $ 40 200 12 300 432 (135) Revenues sales revenue Expenses Cost of goods sold Depreciation expense Operating expenses Net income $ 849 $ 103 11 66 189 416 64 $ 849 RED, INC. statement of Income For Year Ended December 31, 2021 ($ in millions) $2,200 $1,467 41 601 2,109 $ 91 2020 $ 148 148 9 191 366 (256) $ 606 $ 132 19 0 0 416 39 $ 606 Additional Information from the accounting records: a. During 2021, $246…
- Prepare the statement of cash flows of Metagrobolize for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Enter your answers in thousands (i.e., 10,000 should be entered as 10). Amounts to be deducted should be indicated with a minus sign.)y Bookmarks Profiles Tab Window Help S (201 (2|1 (2 | pon.com/ext/map/index.html?_con=con&external_browser=0&launch ouTube aw 11 Q Required information [The following information applies to the questions displayed below.] :9 F1 Classes N Netflix Expenses LANDMAR prior years follow. Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and For Current Year Ended December 31 Sales revenue 2 Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income 2 LANSING COMPANY Income Statement @ At December 31 Accounts receivable Inventory Accounts payable Salaries payable F2 W Utilities payable Prepaid insurance Prepaid rent LANSING COMPANY Selected Balance Sheet Accounts # 3 20 F3 E Dashboard EDU 1011 (2019-F... EDU 1011 (2019-F... G Annotated Bibliog... A Study on the He... $ 4 $ 109,200 000 000 F4 Current Year $ 6,000 2,380 4,800 R 46,000 14,000 22,000 9,400 4,200…Required: a. Calculate: Cash receipts from customers. Cash payments for operating expenses. b. Prepare the operating activities section of the statement of cash flows for 2020.