Windsor Beverage Company reported the following items in the most recent year. Net income $46, 800 Dividends paid 5, 740 Increase in accountsreceivable 10, 120 Increase in accounts payable 7, 130 Purchase of equipment (capital expenditure) 8,880 Depreciation expense 4, 130 Issue of notespayable 23,040 Compute net cash provided by operating activities, the net change in cash during the year. (Show amounts that decrease cash flow witheither a sign e.g. - 15,000 or in parenthesis e.g. (15,000).)

The objective of the question is to calculate the net cash provided by operating activities and the…

Answered: Windsor Beverage Company reported the…

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 following information is available from the current period financial statements: Net income $ 144,682 Depreciation expense $30,263 Increase in accounts receivable $15,664 Decrease in accounts payable $22,233 The net cash flow from operating activities using the indirect method is
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was Accounts payable decreased by Accounts receivable increased by Inventories increased by Cash dividends paid were Depreciation expense was Net cash provided by operating activities was: $150,000. $78,000. $54,000. $14,000. $40,000. $ 62,000 28,000 35,000 15,000 16,000 30,000
Use the appropriate information from the data provided below to calculate the net cash provided (used) by operating activities for the period. Net income Accounts receivable increase (for the period) Inventory decrease (for the period) Proceeds from the issuance of long-term debt Accounts payable decrease (for the period) Purchases of equipment Depreciation and amortization expense $ 113,000 24,000 19,000 260,000 11,000 175,000 42,000
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
Your answer is partially correct. Try again. Cullumber Beverage Company reported the following items in the most recent year. Net income $48,300 Dividends paid 6,320 Increase in accounts receivable 11,860 Increase in accounts payable 7,470 Purchase of equipment (capital expenditure) 8,710 Depreciation expense 4,470 Issue of notes payable 22,850 Compute net cash provided by operating activities, the net change in cash during the year. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Curwen Inc. reported net cash flows from operating activities of $357,500 on its statement of cash flows for a recent year ended December 31. The following information was reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $7,700 Decrease in inventories 19,140 Depreciation 29,480 Gain on sale of investments 13,200 Increase in accounts payable 5,280 Increase in prepaid expenses 2,970 Increase in accounts receivable 14,300 a. Determine the net income reported by Curwen Inc. for the year ended December 31.$fill in the blank 1 b. Curwen’s net income differed from net cash flows from operations because of the following: Depreciation expense, which has no effect on cash flows from operating activities. Gain on the sale of investments is reported in investing activities section of the cash flow statement. Changes in current operating assets and liabilities that…
The item listed below belongs on the Statement of Cash Flows. Using formulas and cell links, complete the Statement of Cash Flows. Items for the Statement of Cash Flowws 01/01/21 12/31/21 Increase (Decrease) Davidson Company Statment of Cash Flow For the Year Ended Dec, 31,2021 Cash 42,000 60,000 Accounts Recevable 254,000 314,200 Cash Flows from operation activities Inventory 78,500 117,100 Accounts Payable 164,200 204,800 Net Cash Provided used by operating Activities Short-term notes Payable 65,000 27,200 Cash Flows from investing Activities Net income for 2021 230,200 Purchase of Equipment 84,000 Net Cash Provided used by investing Activities Depreciation Expense 26,600 Payments of Cash Dividends 91,600 Cash Flows from Financing…
Rogers Company reported net income of $43,319 for the year. During the year, accounts receivable increased by $7,282, accounts payable decreased by $3,300, and depreciation expense of $7,495 was recorded. Net cash provided by operating activities under the indirect method for the year is?
Staley Inc. reported the following data: Net income $226,300 Depreciation expense 72,400 Loss on disposal of equipment 36,700 Increase in accounts receivable 28,700 Increase in accounts payable 10,300 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. blankStaley Inc.Statement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities: - Select - - Select - Changes in current operating assets and liabilities: - Select - - Select - Net cash flow from operating activities $fill in the blank 11
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
The following information is available from the current period financial statements: Net income $ 111,199 Depreciation expense $34,516 Increase in accounts receivable $15,211 Decrease in accounts payable $22,902 The net cash flow from operating activities using the indirect method is a.$61,472 b.$183,828 c.$107,602 d.$84,374
The following information is available from the current period financial statements: Net income $106,740 Depreciation expense 37,256 Increase in accounts receivable 16,396 Decrease in accounts payable 24,416 The net cash flows from operating activities using the indirect method is Oa. $184,808 Ob. $77,504 Oc. $103,184 Od. $53,088

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