The XYZ Company had the followingincome statement on 31.12.2020Deprecation 10000 Net income150000 OMR The following accountsdecreased during 2020: Accountsreceivable 22000 inventory 15000OMR, Rent payable 19000, Machinery15000 OMR The following accountsincreased during 2020:Notesreceivable 14000 Accounts Payable13000 long term Bonds payable30000 OMR Calculate cash flowsfrom operating activitiesSelect one:O a. 149000 OMRO b. 145000 OMRc. 177000 OMRO d. NONE OF THESEClear my choice

solution: XYZ Company Statement of Cash Flows (Partial) For the year Ended 2020 Particulars…

Answered: The XYZ Company had the following…

The XYZ Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 150000 OMR The following accounts decreased during 2020: Accounts receivable 22000 inventory 15000

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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Vauxall Holdings showed the following information regarding its notes receivable: Note Date of Note Principal Interest Rate Term Maturity Date Days of Accrued Interest at Dec. 31, 2023 Accrued Interest at Dec. 31, 2023* 1 Nov. 1/22 $ 340,000 4.0 % 180 days 2 Jan. 5/23 140,000 5.0% 90 days 3 Nov. 20/23 130,000 4.5% 45 days 4 Dec. 10/23 170,000 5.5% 30 days *Round calculations to the nearest whole cent. Required: For each of Vauxall Holdings note receivable given below: (Do not round intermediate calculations. Round the "Amount of Accrued Interest at Dec. 31, 2023" answers to 2 decimal places.) Determine the maturity date. Calculate the days of accrued interest, if any, at December 31, 2023 (Vauxall Holdings' year-end). Calculate the amount of accrued interest, if any, at December 31, 2023. For Note 3: d. Prepare the entry to record the accrued interest at December 31, 2023. (Do not round intermediate calculations. Round your answers to 2 decimal places.) e. Prepare the entry to record…
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