The statement of cash flows of Bosley Corporation shows the amount of cash received from customers as $720,000. If net sales in Bosley Corporation'sincome statement are reported at $670, 000 then: Select one: a. Bosley's accounts receivable are $50,000 t the end of the year. b. Bosley's accountsreceivable decreased $50,000. c. Bosley's accounts receivable increased $50,000. d. Bosley's cash account decreased $50,000.

The objective of the question is to determine the change in Bosley Corporation's accounts receivable…

Answered: The statement of cash flows of Bosley…

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 following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,743 Total assets 4,540 End of year balance in cash 1,168 Total stockholders' equity 512 Gross profit (Sales − Cost of Sales) 2,500 Net increase in cash for the year 26 Operating expenses 2,065 Net operating cash flow 660 Other income (expense), net $ (24) Compute Orinoco's balance in cash at the beginning of the year. Multiple Choice $1,020 $1,168 $733 $1,142
During the year, Broozer’s increased its accounts receivable by $240, increased its inventory by $195, decreased its accounts payable by $80, increased its short-term notes payable by $100 and increased its LTD by $600.. How did these accounts affect the firm’s cash flows from operating activities for the year?
Consider the following financial statement data for Hi-Tech Instruments: For the Year Ended December 31 (Thousands of Dollars, except Earnings per Share) Sales revenue $218,000 Cost of goods sold 133,000 Net income 16,300 Dividends 10,600 Earnings per share $4.15 HI-TECH INSTRUMENTS, INC. Balance Sheets (Thousands of Dollars) Current Year Prior Year Assets Cash $26,300 $26,000 Accounts receivable (net) 54,000 49,000 Inventory 47,500 51,700 Total Current Assets 127,800 126,700 Plant assets (net) 60,600 58,500 Other assets 23,600 21,800 Total Assets $212,000 $207,000 Liabilities and Stockholders’ Equity Notes payable—banks $14,000 $14,000 Accounts payable 30,500 26,700 Accrued liabilities 24,500 29,000 Total Current Liabilities 69,000 69,700 9% Bonds payable 48,000 48,000 Total Liabilities 117,000 117,700 Common stock 50,000 50,000 Retained earnings 45,000 39,300 Total Stockholders’ Equity 95,000 89,300…
You are provided with the following information taken from Splish Brothers Inc.’s March 31, 2022, balance sheet. Cash $ 12,330 Accounts receivable 20,370 Inventory 36,900 Property, plant, and equipment, net of depreciation 120,500 Accounts payable 22,640 Common stock 153,800 Retained earnings 12,460 Additional information concerning Splish Brothers Inc. is as follows. 1. Gross profit is 26% of sales. 2. Actual and budgeted sales data: March (actual) $47,000 April (budgeted) 73,100 3. Sales are both cash and credit. Cash collections expected in April are: March $18,800 (40% of $47,000) April 43,860 (60% of $73,100) $62,660 4. Half of a month’s purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are: Purchases March $22,640…
Manji
During the year, D-Bat increased it accounts receivable by $150, decreased its STNP by $185 and decreased its accounts payable by $80, paid dividends of $50, increased its LTD by $100, decreased its inventory by $50 and issued $25 of common stock. What is the cash flow from financing activities?
Use the following information to compute net operating cash flow for a firm: Net income for the year is $43,900 Account receivable increased by $10,420 Inventory increased by $1,875 Depreciation expense for the year is $8,000 Account payable decreased by $5,782 Other current liabilities increased by $3,500 Taxes payable decreased by $1,970 Old equipment with a book value of $2,200 was sold for $1,325 Old appliances were sold for $24,000 at a gain of $4,800 A new machine was purchased for $10,000 1,000 shares of common stock were issued at par value of $10 each and sold at pay (for $10 each) Declared and paid dividends of $5,000 Reimbursed $7,000 of an outstanding loan’s capital
Concord Corporation had the following transactions that took place during the year: I. Recorded credit sales of $3050 I. Collected $1830 from customers III. Recorded sales returns of $610 and credited the customer's account. What is the total effect of these transactions on free cash flow? Cannot be determined O Increase Decrease O No Effect
Below is the income statement data of SwiftTech Inc.: Sales $1,800 decrease in inventory $120 Depreciation $200 Increase in accounts receivable $60 increase in accounts payable $90 After tax profit margin 20% Loss on sale of equipment $40 Based on the above information, what is the Cash flow from operations for SwiftTech Inc.?
Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 328,000 Cash dividends declared for the year 73,750 Proceeds from the sale of equipment 126,800 Gain on the sale of equipment 7,350 Cash dividends payable at the beginning of the year 32,450 Cash dividends payable at the end of the year 39,500 Net income for the year 162,250 The amount of cash paid for dividends was:

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