FINANCIAL ACCOUNTING 9TH
16th Edition
ISBN: 9781308821672
Author: Libby
Publisher: MCG/CREATE
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Chapter 12, Problem 12.11E
To determine
Explain whether the following accounts are increased or decreased during the period.
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Determining Cash Flows from (Used for) Operating Activities
Yeoman Inc. reported the following data:
Net income
$278,500
Depreciation expense
64,100
Loss on disposal of equipment
30,100
Increase in accounts receivable
16,700
Increase in accounts payable
10,100
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.
Yeoman Inc.Statement of Cash Flows (partial)
Cash flows from (used for) operating activities:
$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
- Select -
- Select -
Changes in current operating assets and liabilities:
- Select -
- Select -
Net cash flows from operating activities
$fill in the blank 11
Demers Inc. reported the following data:
Net income
$409,500
Depreciation expense
46,460
Gain on disposal of equipment
37,860
Decrease in accounts receivable
25,340
Decrease in accounts payable
5,930
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
Please complete the statement of cashflows as required below:
A comparative balance sheet and an income statement for Burgess Company are given below:
Burgess CompanyComparative Balance Sheet(dollars in millions)
Ending Balance
Beginning Balance
Assets
Current assets:
Cash and cash equivalents
$ 44
$ 91
Accounts receivable
690
633
Inventory
675
630
Total current assets
1,409
1,354
Property, plant, and equipment
1,555
1,529
Less accumulated depreciation
800
666
Net property,plant, and equipment
755
863
Total assets
$ 2,164
$ 2,217
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$ 270
$ 165
Accrued liabilities
185
165
Income taxes payable
87
77
Total current liabilities
542
407
Bonds payable
440
650
Total liabilities
982
1,057
Stockholders' equity:
Common stock
170
170
Retained earnings
1,012
990
Total stockholders' equity
1,182
1,160
Total liabilities and stockholders' equity
$…
Chapter 12 Solutions
FINANCIAL ACCOUNTING 9TH
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - What are the major categories of business...Ch. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Compare the two methods of reporting cash flows...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - What are noncash investing and financing...Ch. 12 - Prob. 13QCh. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 6MCQCh. 12 - Prob. 7MCQCh. 12 - Prob. 8MCQCh. 12 - Prob. 9MCQCh. 12 - Prob. 10MCQCh. 12 - Prob. 12.1MECh. 12 - Determining the Effects of Account Changes on Cash...Ch. 12 - Prob. 12.3MECh. 12 - Prob. 12.4MECh. 12 - Prob. 12.5MECh. 12 - Prob. 12.6MECh. 12 - Prob. 12.7MECh. 12 - Prob. 12.1ECh. 12 - Prob. 12.2ECh. 12 - Prob. 12.3ECh. 12 - Prob. 12.4ECh. 12 - Prob. 12.5ECh. 12 - Prob. 12.6ECh. 12 - Prob. 12.7ECh. 12 - Reporting and Interpreting Cash Flows from...Ch. 12 - Prob. 12.9ECh. 12 - Prob. 12.10ECh. 12 - Prob. 12.11ECh. 12 - Inferring Balance Sheet Changes from the Cash Flow...Ch. 12 - (Chapter Supplement B) Computing and Reporting...Ch. 12 - During the period, Sanchez Company sold some...Ch. 12 - Prob. 12.15ECh. 12 - Prob. 12.16ECh. 12 - Prob. 12.17ECh. 12 - Prob. 12.18ECh. 12 - Prob. 12.19ECh. 12 - Prob. 12.20ECh. 12 - Prob. 12.21ECh. 12 - (Chapter Supplement A) Reporting and Interpreting...Ch. 12 - Prob. 12.23ECh. 12 - Prob. 12.24ECh. 12 - Prob. 12.1PCh. 12 - Prob. 12.2PCh. 12 - Prob. 12.3PCh. 12 - Prob. 12.4PCh. 12 - Prob. 12.5PCh. 12 - (Chapter Supplement C) Preparing a Statement of...Ch. 12 - Prob. 12.1APCh. 12 - Prob. 12.2APCh. 12 - Prob. 12.3APCh. 12 - Prob. 12.1CONCh. 12 - Prob. 12.1CPCh. 12 - Prob. 12.2CPCh. 12 - Prob. 12.3CPCh. 12 - Prob. 12.4CPCh. 12 - Prob. 12.5CPCh. 12 - Prob. 12.6CP
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