Statement of Cash Flows (Partial)Cash flows from operating activitiesReceipts from customers$ 1,797,500Payments for salaries(249,035)Payments for rent(49,600)|Payments for utilities(18,125)Payments for inventory(966,000)$514,740Net cash provided by operating activities%24%24 SONAD COMPANYIncome StatementFor Year Ended December 31$ 1,828,000991,000SalesCost of goods soldGross profitOperating expenses837,000$ 245,53544,20049,6004,20018,125SalariesexpenseDepreciation expenseRent expenseAmortization expenses-PatentsUtilities expense361,660475,340Gain on sale of equipment6,200$ 481,540Net income$ 30,500 increase Accounts payable25,000 increase Salaries payable$ 12,500 decrease3,500 decreaseAccounts receivableInventory

Cash flow statement means the statement which shows the cash flow in or out of business enterprises…

Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers $ $ 1,797,500 Payments for salaries (249,035) Payments for rent (49,600) Payments for utilities (18,125) Payments for inventory (966,000) Net cash provided by operating activities 514 7Ao %24 %24

Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers $ $ 1,797,500 Payments for salaries (249,035) Payments for rent (49,600) Payments for utilities (18,125) Payments for inventory (966,000) Net cash provided by operating activities 514 7Ao %24 %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The list includes all balance sheet accounts related to cash from operating activities. Case X Case Y Case Z Net income $ 5,800 $ 146,000 $ 105,600 Depreciation expense 43,600 11,600 35,200 Accounts receivable increase (decrease) 58,200 29,000 (5,800 ) Inventory increase (decrease) (29,200 ) (14,600 ) 14,600 Accounts payable increase (decrease) 35,000 (32,200 ) 20,400 Accrued liabilities increase (decrease) (64,200 ) 17,600 (11,600 ) For each of the above separate cases X, Y, and Z, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
End of Year Beginning of Year Cash and cash equivalents $810 $79 Accounts receivable (net) 2,070 1,890 Inventory 880 910 Other current assets 490 401 Total current assets $4,250 $3,280 Total current liabilities $2,040 $1,630 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory for the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio Accounts receivable turnover Average collection period Inventory turnover Days in inventory :1 times days times days
Question Content Area The following information is available from the current period financial statements: Net income $102,978 Depreciation expense 26,870 Increase in accounts receivable 15,293 Decrease in accounts payable (29,031) The net cash flows from operating activities using the indirect method is a. $174,172 b. $85,524 c. $102,978 d. $31,784
Statement of Cash Flows The comparative balance sheet of Hirayama Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $234 $18 Accounts receivable (net) 70 63 Inventories 150 127 Land 320 422 Equipment 262 224 Accumulated depreciation—equipment (87) (54) Total assets $949 $800 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $65 $47 Dividends payable 6 - Common stock, $1 par 160 102 Excess of paid-in capital over par 109 90 Retained earnings 609 561 Total liabilities and stockholders' equity $949 $800 The following additional information is taken from the records: Land was sold for $153. Equipment was acquired for cash. There were no disposals of equipment during the year. The common stock was issued for cash. There was a $79 credit to Retained Earnings for net income. There was a $31 debit to Retained…
a corporation reported cash of 15,200 and total assets of 179,500 on its balance sheet its common size percent for cash equals 8.47% 20.44% 13.97% 11.81% 6.47%
Exercise 12-7 (Algo) Indirect: Reporting cash flows from operations LO P2 Selected Year-End Balance Sheet Data Wages payable decrease Annual Income Statement Data Sales Expenses: Cost of goods sold Wages expense Amortization expense Net income $ 48,000 Inventory increase 20,000 Accounts payable decrease 12,700 1,800 $ 13,500 Prepare the operating activities section of the statement of cash flows for GreenGarden using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Assessment Tool iFrame Changes in current operating assets and liabilities $ 4,000 600 1,800 0
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Qq.59. Subject :- Account A coporation reported cash of $15,600 and total assets of 179,900 on its balance sheet. Its commen size percent for cash equals
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Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $226,390 $211,080 Accounts receivable (net) 82,010 75,810 Inventories 231,510 224,450 Investments 0 86,960 Land 118,750 0 Equipment 255,440 198,450 Accumulated depreciation—equipment (59,800) (53,510) Total assets $854,300 $743,240 Liabilities and Stockholders' Equity Accounts payable $154,630 $146,420 Accrued expenses payable 15,380 19,320 Dividends payable 8,540 6,690 Common stock, $10 par 46,130 36,420 Paid-in capital: Excess of issue price over par-common stock 173,420 101,080 Retained earnings 456,200 433,310 Total liabilities and stockholders’ equity $854,300 $743,240 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: Equipment and…
Free cash flow Dillin Inc. reported the following on the company's statement of cash flows in 20Y2 and 20Y1: 20Y2 20Y1 Net cash flow from operating activities $476,200 $456,200 Net cash flow used for investing activities (429,000) (379,000) Net cash flow used for financing activities (41,000) (57,000) Eighty percent of the net cash flow used for investing activities was used for the purchase of property, plant, and equipment. a. Determine Dillin's free cash flow for both years. 20Y2 20Y1 Free cash flow $ b. Has Dillin's free cash flow improved or declined from 20Y1 to 20Y2?