The following information is provided for the current year: Profit for the period P1,500,000; Depreciation expense 400,000; Increase in accounts receivable 300,000. There are no other reconciliation items. The cash from operating activities for the period is P2,000,000 P1,800,000 P1,200,000 P1,000,000
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The following information is provided for the current year: Profit for the period P1,500,000;
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- Hampton Company reports the following information for its recent calendar year. Selected Year-End Balance Sheet Data Accounts receivable increase $ 77,000 Inventory decrease 41,000 Salaries payable increase 12,000 4,000 $ 20,000 Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income Required: Prepare the operating activities section of the statement of cash flows 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 $ 5,000 5,000 900 Changes in current operating assets and liabilitiesRodriguez Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement for Current Year Service revenue Expenses Salaries Depreciation Amortization of copyrights Other expenses Net loss Partial Balance Sheet Accounts receivable Salaries payable Other accrued liabilities $ 42,000 8,200 220 10,200 Current Year $ 9,300 13,000 1,500 Cash flows from operating activities: RODRIGUEZ COMPANY Statement of Cash Flows (Partial) $ 53,000 60,620 $ (7,620) Prior Year $ 16,600 In addition, Rodriguez bought a small service machine for $7,000. Required: 1.Present the operating activities section of the statement of cash flows for Rodriguez Company using the indirect method. Note: List loss amount and cash outflows as negative amounts. 2,000 5,200Demers Inc. reported the following data: Net income $409,500 Depreciation expense 46,460 Gain on disposal of equipment 37,860 Decrease in accounts receivable 25,340 Decrease in accounts payable 5,930 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
- Kela Corporation reports net income of $570,000 that includes depreciation expense of $78,000. Also, cash of $59,000 was borrowed on a 4-year note payable. Based on this data, total cash inflows from operating activities are: Multiple Choice $629,000. $648,000. $492,000. $707,000.Accounts receivable from sales transactions were $49,313 at the beginning of the year and $62,098 at the end of the year. Net income reported on the income statement for the year was $122,531. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would beSheridan Company reported net income of $0.50 million in 2022. Depreciation for the year was $80,000, accounts receivable decreased $175,000, and accounts payable decreased $140,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Sheridan Company Statement of Cash Flows-Indirect Approach
- Staley Inc. reported the following data: Net income: $465,400 Depreciation expense: $68,100 Loss on disposal of equipment: $29,900 Increase in accounts receivable: $21,700 Increase in accounts payable: $12,700 Compute cash flow from operating activitiesCash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense $44,100 Gain on disposal of equipment 25,740 Net income 339,800 The changes in the current asset and liability accounts for the year are as follows: Increase(Decrease) Accounts receivable $6,870 Inventory (3,910) Prepaid insurance (1,470) Accounts payable (4,660) Income taxes payable 1,470 Dividends payable 1,030 Question Content Area a. Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankStatement of Cash Flows (partial) Cash flows from (used for) operating activities: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: - Select -…Kennedy, Inc., reported the following data: Net income $122,135 Depreciation expense 12,690 Loss on disposal of equipment (8,856) Gain on sale of building 18,988 Increase in accounts receivable 8,409 Decrease in accounts payable (2,837) Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc.Statement of Cash Flows Cash flows from (used for) operating activities: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: - Select - - Select - - Select - Changes in current operating assets and liabilities: - Select - - Select -
- Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of $140,000 was included withoperating expenses in the income statement. The following information describes the changes in current assets andliabilities other than cash:Increase in accounts receivable $152,000Decrease in inventories 108,000Decrease prepaid expenses 62,000Decrease in salaries payable 30,000Increase in income taxes payable 44,000Required:Calculate cash flows from operating activities for 2018.Using the Exhibit below, assume that the balance of Accounts Payable was $50,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $35,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…
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