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
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- Cash Flows from (Used for) Operating Activities The net income reported on the income statement for the current year was $271,100. Depreciation recorded on equipment and a building amounted to $81,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Endof Year Beginningof Year Cash $71,570 $75,860 Accounts receivable (net) 90,750 93,610 Inventories 178,930 161,280 Prepaid expenses 9,950 10,700 Accounts payable (merchandise creditors) 79,940 84,660 Salaries payable 11,520 10,540 A. Prepare the Cash Flows from (used for) 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.Reporting Land Transactions on Statement of Cash Flows On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Jan. 1 Balance 1,296,000 Mar. 12 Purchased for cash 389,000 1,685,000 Oct. 4 Sold for $214,000 183,000 1,502,000 Item Section of Statement ofCash Flows Added or Deducted Amount Mar. 12: Purchase of fixed asset Investing activities section Deducted $ Oct. 4: Sale of fixed asset Investing activities section Added $ Gain on sale of fixed asset (assume the indirect method) Operating activities section Deducted $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).
- 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 11,000Required 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.)Need Help.
- Please Do not Give image formatCash 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 activitiesUnder 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
- Net cash flow from financing activities pleaseCash flows from operating activities-indirect methodThe net income reported on the income statement for the current yearwas $93,700. Depreciation recorded on store equipment for the yearamounted to $31,200. Balances of the current asset and current liabilityaccounts at the beginning and end of the year are as follows: End of Year Beginning of Year CashAccounts receivable (net)InventoriesPrepaid expensesAccounts payable (merchandise creditors)Wages payable $24,10065,00047,2003,25023,4005,300 $19,70056,00050,0008,00017,2006,400 a. Prepare the "Cash flows from operating activities" section of thestatement of cash flows, using the indirect methodb. Briefly explain why net cash flow from operating activities isdifferent than net income.Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $260,900. Depreciation recorded on equipment and a building amounted to $78,000 for the year. 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 $72,010 $74,890 Accounts receivable (net) 91,310 92,410 Inventories 180,030 159,220 Prepaid expenses 10,010 10,560 Accounts payable (merchandise creditors) 80,440 83,580 Salaries payable 11,590 10,410 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 67ad34fdefd504f_2…
