FINANCIAL ACCOUNTING 9TH
16th Edition
ISBN: 9781308821672
Author: Libby
Publisher: MCG/CREATE
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 12, Problem 12.12E
Inferring
A recent statement of
| Operations | |
| Net income | $25,922 |
| 1,814 | |
| Changes in assets and liabilities | |
| 143 | |
| Inventories | 275 |
| Other current assets | (1,391) |
| Accounts payable | 2,515 |
| Deferred revenue | 1,654 |
| Other current liabilities | 4,495 |
| Other adjustments | 2,102 |
| Cash generated by operations | $37,529 |
Required:
For each of the asset and liability accounts listed on the statement of cash flows, determine whether the account balances increased or decreased during the period.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A recent statement of cash flows for Apple contained the following information (dollars in millions):
Operations
Net income $25,922
Depreciation 1,814
Changes in assets and liabilities
Accounts receivable 143
Inventories 275
Other current assets (1,391)
Accounts payable 2,515
Deferred revenue 1,654
Other current liabilities 4,495
Other adjustments 2,102
Cash generated by operations $37,529
For each of the asset and liability accounts listed on the statement of cash flows, determine whether the account balances increased or decreased during the period.
The following information is available from the current period financial statements:
Net income
$112,044
Depreciation expense
22,976
Increase in accounts receivable
14,959
Decrease in accounts payable
16,749
The net cash flow from operating activities using the indirect method is:
Current Attempt in Progress
Lee Enterprises reports the following information:
Net income
Depreciation expense
Increase in accounts payable
Increase in accounts receivable
$5180000
$3979520.
$5180000.
$6380480.
$5706480.
704480
159000
337000
Lee should report cash provided by operating activities of
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
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Accounting Suppose that a company's cash flow statement showed the following: o Net Income: $19,917.48 o Depreciation: $3,109.46 o Accounts receivable: $-996.63 o Inventory: $489.61 o Accounts payable: $984.18 What is this company's net cash from operating activities? $22,519.92 $23,014.49 $23,516.55 $20,394.64 $23,504.10arrow_forwardPlease help me with show all calculation thankuarrow_forwardWhat is the statement of cash flows using the indirect method?arrow_forward
- Calculator The following information is available from the current period financial statements: $103,184 Net income Depreciation expense 29,117 Increase in accounts receivable 16,270 Decrease in accounts payable 15,506 Determine the net cash flow from operating activities using the indirect method. Select the correct answer. $100,525 $164,077 $42,291 $103,184 4:10 PMarrow_forwardQuestion Content Area The following information is available from the current period financial statements: Net income $102,978 Depreciation expense 26,870 Increase in accounts receivable 15,293 Decrease in accounts payable (29,031) The net cash flows from operating activities using the indirect method isarrow_forwardPrepare a cash flow statement (indirect method) from the given information. please include explanation for each step/line itemarrow_forward
- 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. $53,088arrow_forwardIn preparing a company's statement of cash flows using the indirect method, the following information is available: Net income $71,000 Accounts payable increased by 19,900 Accounts receivable decreased by 26,900 Inventories increased by 8,800 Depreciation expense 35,700 Net cash provided by operating activities was: Multiple Choice $144,700.arrow_forwardPrepare a cash flow statement (indirect method) from the given information. Show your solutionsarrow_forward
- Highlight the Net cash provided by Operating Activities for the Statement of Cash Flows Highlight the Net cash provided by Financing Activities for the Statement of Cash Flows Highlight the net change in cash for the period on the Statement of Cash Flowsarrow_forwardCash Flows from Operating Activities-Direct Method The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $607,300 and accounts receivable decreased by $38,900 during the year, what was the amount of cash received from customers? b. If income tax expense for the current year was $57,900 and income tax payable decreased by $7,500 during the year, what was the amount of cash payments for income taxes? c. Briefly explain why the cash received from customers in part (a) is different from sales. Because the customers paid than the amount of sales for the period, cash received from customers sales made on account by $38,900 during the current year.arrow_forwardThe 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…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License