Using the information of MARIE's determine the cash provided by operating activities during 1993 bythe indirect method. Net income for 1993 was P162,000.12/31/9212/31/93Accrued interest payablerecognized10,00012,500Depreciation expense recognized18,20018.900Prepaid expense recognized7751,235

The question is based on the concept of Cashflow statements.

Answered: Using the information of MARIE's…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Print Item Use the following information from Albuquerque Company's financial statements: Net income $328,000 Change in accumulated depreciation (no sale of depreciable assets this year) 26,200 Loss on sale of company truck 9,500 Determine operating net cash flows (indirect method).
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $127,200. Depreciation recorded on store equipment for the year amounted to $21,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $50,630 $46,070 Accounts receivable (net) 36,300 34,050 Inventories 49,570 51,830 Prepaid expenses 5,570 4,380 Accounts payable (merchandise creditors) 47,440 43,580 Wages payable 25,920 28,470 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Net income $fill in the blank ec5d5a033f89031_2 Adjustments to…
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 recievable 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
Required information E12-13 (Algo) (Supplement B) Computing and Reporting Cash Flow Effects of Sale of Plant and Equipment [The following information applies to the questions displayed below.] During two recent years, Perez Construction, Inc., disposed of the following plant and equipment: Year 1 $ 76,200 Plant and equipment (at cost) Accumulated depreciation on equipment disposed of Cash received Gain (loss) on sale E12-13 Part 1 42,785 20,264 (13, 151) Year 2 $15,900 4,973 14,563 3,636 Required: 1. Determine the cash flow from the sale of property for each year that would be reported in the investing activities section of the cash flow statement. (List cash outflows as negative amounts.)
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Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year: Depreciation expense $52,000 Gain on disposal of 30,330 equipment Net income 382,200 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $8,100 Inventory (4,610) Prepaid insurance (1,730) Accounts payable (5,490) Income taxes payable 1,730 Dividends payable 1,210 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $154,100. Depreciation recorded on store equipment for the year amounted to $25,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $58,560 $53,290 Accounts receivable (net) 41,990 39,380 Inventories 57,330 59,950 Prepaid expenses 6,440 5,060 Accounts payable (merchandise creditors) 54,870 50,410 Wages payable 29,980 32,930 a. Prepare the “Cash flows from operating activities” section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash flow…
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Under the indirect method, how much should be reported as cash flows from operating activities? a. P 780,000b. P 550,000c. P 600,000d. P 750,000
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Using the information of MARIE's determine the cash provided by operating activities during 1993 by the indirect method. Net income for 1993 was P162,000. 12/31/92 12/31/93 Accrued interest payable 10,000 12,500 recognized Depreciation expense recognized 18,200 18,900