Use indirect method.Indus industries was manufacturing steel rods and it hasreported net income of P225, 000 for 2019.It also reported depreciation expense of P45,000 and a lossof 5,000 on the disposal of equipment.The comparative balance sheet shows a decrease in accountsreceivable of 15,000 for the year, a 17,000 increase inaccounts payable, and a 4,000 decrease in prepaid expenses.Prepare the operating activities section of the statement ofcash flows for 2019.

Cash flow from operating activities records the flow of cash from the regular business activities .…

Answered: Use indirect method. Indus industries…

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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From the following Ledger balances of Ecofav LTD., prepare a statement of profit and loss for 2017 march ending. Particulars Rs. Plant and Machinery Depreciation on Plant and Machinery Purchases 1,60,000 16,000 4,00,000 1,20,000 80,000 10,00,000 10,000 Wages Salaries Sales Other Expenses
In its income statement for the year ended December 31, 2022, Wildhorse Co. reported the following condensed data. Operating expenses $ 726,000 Interest revenue $ 39,000 Cost of goods sold 1,262,000 Loss on disposal of plant assets 23,000 Interest expense 75,000 Net sales 2,205,000 Income tax expense 51,000 Other comprehensive income (net of $1,200 tax) 8,900 I have to find a Income statement as well as a Comprehensive income, statement is needed, and I am confused.
Use the following information for the next four (4) questions: Sison Company reported profits of P4,000,000 and P8,000,000 in 2021 and 2022, respectively. In 2023, the following prior period errors were discovered: The inventory on December 31, 2021 was understated by P200,000. An equipment with an acquisition cost of P1,200,000 was erroneously charged as expense in 2021. The equipment has an estimated useful life of 5 years with no residual value. Sison Company provides full year depreciation in the year of acquisition. The unadjusted balances of retained earnings are P8,800,000 and P16,800,000 as of December 31, 2021 and 2022, respectively. How much is the correct profit in 2021? How much is the correct profit in 2022? How much is the correct retained earnings in 2021? How much is the correct retained earnings in 2022?
Sunland Company reported a net loss of $14400 for the year ended December 31, 2022. During the year, accounts receivable decreased $7200, inventory increased $11520, accounts payable increased by $14400, and depreciation expense of $8640 was recorded. During 2022, operating activities
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Vinny's Overhead Construction had free cash flow during 2021 of $25.4 million. The change in gross fixed assets on Vinny's balance sheet during 2021 was $5.0 million and the change in net operating working capital was $6.0 million. Calculate the missing amounts on Vinny's income statement below. (Enter your answers in millions of dollars rounded to 2 decimal places.) Net sales VINNY'S OVERHEAD CONSTRUCTION, CORP. Income Statement for Year Ending December 31, 2021 (in millions of dollars) Less: Cost of goods sold 118.10 Gross profits $ 61.00 Less: Other operating expenses 14.40 Earnings before interest, taxes, depreciation, and amortization (EBITDA) $ 46.60 Less: Depreciation 12.60 Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income $ 15.54
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Sunland Company reported net income of $196,300for 2022, Sunland also reported depreciation expense of $47,800and a loss of $5,000on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $10,100for the year, a $12,100increase in accounts payable, and a $4,400increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis es (15,000)) SUNLAND COMPANY Partial Statement of Cash Flows For the Year Ended December 31,2022 Adjustments to reconcile net income to <

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