Use the following information to perform the calculations below (using the indirect method).Net incomeDepreciation expenseBeginning accounts receivableEnding accounts receivableBeginning inventoryEnding inventoryBeginning prepaid insuranceEnding prepaid insurance(a)$460,000Your answer is incorrect.Beginning accounts payableEnding accounts payable90,000422,400432,000528,000577,00043,200 Purchase of treasury stock46,300 Sale of long-term investment at costCash flows from operating activities $Purchase of long-term assetsIssuance of long-term debtIssuance of stock for cashIssuance of stock for long-term assets$129,000145,000707,000253,000185,000109,00066,00056,500MCalculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a sign-15,000 or in parenthesis e.g. (15,000).)

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Description: Use the following information to perform the calculations below (using the indirect method).Net incomeDepreciation expenseBeginning accounts receivableEnding accounts receivableBeginning inventoryEnding inventoryBeginning prepaid insuranceEnding pre

Cash flow statement is one of financial statements includes three activities that are Cash flow…

Business

Accounting

Use the following information to perform the calculations below (using the indirect method). Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance (a) Your answer is incorrect. Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash Issuance of stock for long-term assets Purchase of treasury stock 46,300 Sale of long-term investment at cost $460,000 90,000 422,400 432,000 528,000 577,000 $129,000 Cash flows from operating activities $ 145,000 707,000 253,000 185,000 109,000 66,000 56,500 Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a-sign -15,000 or in parenthesis e.g. (15,000).)

Use the following information to perform the calculations below (using the indirect method). Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid insurance Ending prepaid insurance (a) Your answer is incorrect. Beginning accounts payable Ending accounts payable Purchase of long-term assets Issuance of long-term debt Issuance of stock for cash Issuance of stock for long-term assets Purchase of treasury stock 46,300 Sale of long-term investment at cost $460,000 90,000 422,400 432,000 528,000 577,000 $129,000 Cash flows from operating activities $ 145,000 707,000 253,000 185,000 109,000 66,000 56,500 Calculate the amount of cash flows from operating activities. (Show amount that decrease cash flow with either a-sign -15,000 or in parenthesis e.g. (15,000).)

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 65RSCQ

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Use the following information to perform the calculations below (using the indirect method). Net income Depreciation expense Beginning accounts receivable Ending accounts receivable Beginning inventory Ending inventory Beginning prepaid ins rance Ending prepaid insurance (a) $610,000 Beginning accounts payable 92,000 Ending accounts payable 429,200 Purchase of long-term assets 430,000 Issuance of long-term debt for cash 510,000 Issuance of stock for cash 563,000 Issuance of stock for long-term assets. 40,100 Purchase of treasury stock 46,600 Sale of long-term investment at cost $111,000 Cash flows from operating activities $ 152,000 778,000 283,000 170,000 106,000 61,500 54,000 Calculate the net cash flows from operating activities. (Show amount that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000).)
Analyze the following accounts and satisfy the requirements given below. Accounts payable Accrued expenses Accumulated depreciation Additional paid-in capital Allowance for doubtful accounts Cash Common stock (PO.20 par) Gross accounts receivable Gross fixed assets Inventories Long term debt Net accounts receivable Net fixed assets Retained earnings Short-term bank loan (notes payable) P 39,000 8,000 51,000 86,000 2,000 23,000 45,000 40,000 486,000 54,000 210,000 38,000 435,000 138,000 24,000
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