No work shown required Using the indirect method, calculate the amount of cash flows from operating activities from the following data:Net income$199,000Beginning accounts receivable22,000Ending accounts receivable29,000Beginning prepaid insurance5,000Ending prepaid insurance2,000Beginning accounts payable15,000Ending accounts payable14,000Depreciation expense50,000Amortization of intangible asset6,000Dividends declared and paid11,000 PPW Co. leased a portion of its store to another company for eight months beginning on October 1, 20018, at a monthly rate of $800. This other company paid the entire $6,400 cash on October 1, which PPWCo. recorded as unearned revenue. The journal entry made by PPW Co. at year- end on December 31, 2018 would include:O A.A debit to Unearned Rent for $4,000.O B. A debit to Cash for $6,400.O C.A credit to Rent Earned for $2,400.O D. A debit to Rent Earned for $2,400.O E. A credit to Unearned Rent for $2,400.

Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…

Using the indirect method, calculate the amount of cash flows from operating activities from the following data: Net income $199,000 Beginning accounts receivable 22,000 Ending accounts receivable 29,000 Beginning prepaid insurance 5,000 Ending prepaid insurance 2,000 Beginning accounts payable 15,000 Ending accounts payable 14,000 Depreciation expense 50,000 Amortization of intangible asset 6,000 Dividends declared and paid 11,000

Using the indirect method, calculate the amount of cash flows from operating activities from the following data: Net income $199,000 Beginning accounts receivable 22,000 Ending accounts receivable 29,000 Beginning prepaid insurance 5,000 Ending prepaid insurance 2,000 Beginning accounts payable 15,000 Ending accounts payable 14,000 Depreciation expense 50,000 Amortization of intangible asset 6,000 Dividends declared and paid 11,000

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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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

No work shown required

Using the indirect method, calculate the amount of cash flows from operating activities from the following data:
Net income
$199,000
Beginning accounts receivable
22,000
Ending accounts receivable
29,000
Beginning prepaid insurance
5,000
Ending prepaid insurance
2,000
Beginning accounts payable
15,000
Ending accounts payable
14,000
Depreciation expense
50,000
Amortization of intangible asset
6,000
Dividends declared and paid
11,000

PPW Co. leased a portion of its store to another company for eight months beginning on October 1, 20018, at a monthly rate of $800. This other company paid the entire $6,400 cash on October 1, which PPW
Co. recorded as unearned revenue. The journal entry made by PPW Co. at year- end on December 31, 2018 would include:
O A.
A debit to Unearned Rent for $4,000.
O B. A debit to Cash for $6,400.
O C.A credit to Rent Earned for $2,400.
O D. A debit to Rent Earned for $2,400.
O E. A credit to Unearned Rent for $2,400.

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