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. 12/31/9212/31/93Accrued interest payable recognized10,00012,500Depreciation expense recognized18,20018,900Prepaid expense recognized7751,235

Cash flow statement means the statement which shows the cash flow in or out of business enterprises…

Answered: Using the information of MARIE’s…

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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The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. PEACH COMPUTERSIncome StatementFor the Year Ended December 31, 2021 Sales $ 380.0 Cost of goods sold (190.0 ) Gross margin 190.0 Salaries expense $ 43.0 Insurance expense 20.0 Depreciation expense 9.0 Loss on sale of land 7.0 79.0 Income before tax 111.0 Income tax expense (55.5 ) Net income $ 55.5 Reconciliation of Net IncomeTo Net Cash Flows from Operating Activities Net income $ 55.5 Adjustments for Noncash Effects Depreciation expense 9.0 Loss on sale of land 7.0 Changes in operating assets and liabilities: Decrease in accounts receivable 11.0 Increase in inventory (38.0 ) Decrease in accounts payable (23.0 ) Increase in salaries payable…
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Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,189,000 Cost of goods sold 1,072,610 Gross profit 1,116,390 Operating expenses Salaries expense $ 299,893 Depreciation expense 52,536 Rent expense 59,103 Amortization expenses—Patents 6,567 Utilities expense 24,079 442,178 674,212 Gain on sale of equipment 8,756 Net income $ 682,968 Accounts receivable $ 46,450 increase Accounts payable $ 12,900 decrease Inventory 13,500 increase Salaries payable 5,150 decrease
B
Free Cash Flow Kat Co. reports the following financial data for the current year: Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Cash disbursed for capital expenditures Compute Kat's free cash flow. Free cash flow S 17175 x Check $21,500 (10,555) 4,250 (4,325)
Required: Based on the following information, compute cash flows from investing activities under GAAP. Cash collections from customers $ 780 Purchase of used equipment 190 Depreciation expense 190 Sale of investments 430 Dividends received 100 Interest received 190
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
Net cash flow from financing activities please
Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Other expenses Net loss $ 95,000 73,000 35,000 28,800 9,000 $(50,800) Cash flows from operating activities Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Other accrued liabilities decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Any loss or amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) $25,000 19,000 24,000 15,000
Cash 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.

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	12/31/92	12/31/93
Accrued interest payable recognized	10,000	12,500
Depreciation expense recognized	18,200	18,900
Prepaid expense recognized	775	1,235