Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 14, Problem 14.11SE
Preparing a statement of
Green Bean, Inc. began 2016 with cash of $57,000. During the year, Green Bean eared revenue of $596,000 and collected $618,000 from customers. Expenses for the year totaled $433,000, of which Green Bean paid $214,000 in cash to suppliers and $209,000 in cash to employees. Green Bean also paid $146,000 to purchase equipment and a cash dividend of $56,000 to its stockholders during 2016. Prepare the company's statement of cash flows for the year ended December 31, 2016. Format operating activities by the direct method.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Last year Lawsby Company reported sales of P120,000 on its income statement. During the year, accounts receivable increased by P10,000 and accounts payable increased by P15,000. The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:
n its fiscal 2010 balance sheet, Big Lots, Inc., reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, the cash and cash equivalents had decreased to $177,539 thousand. The company's statement of cash flows reported cash from operating activities of $315,257 thousand, cash from financing activities of ($306,899) thousand. What amount did the company report for cash from investing activities?
Select one:
a.
$8,358 thousand cash inflow
b.
$106,194 thousand cash outflow
c.
$114,552 thousand cash outflow
d.
$114,552 thousand cash inflow
e.
None of the above.
Loblaw's company executive assistant is given a task to determine the cash conversion cycle of the company. The following 2016 Income statement and balance sheet Information is as follows. Assume there are 365 days in a year.
Sales $32,341
Cost of merchandise Inventory sold $15,594
Inventories $2084
Accounts receivables $782
Accounts payable $3689
Calculate the Cash conversion cycle of the company.
The Cash conversion cycle is -28.74.
The Cash conversion cycle is -128.74.
The Cash conversion cycle is 125.10.
The Cash conversion cycle is 143.95.
Chapter 14 Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
Ch. 14 - The purposes of the statement of cash flows are to...Ch. 14 - The main categories of cash flow activities are a....Ch. 14 - Operating activities are most closely related to...Ch. 14 - Which item does not appear on a statement of cash...Ch. 14 - Leather Shop earned net income of 57,000 after...Ch. 14 - The Plant Assets account and Accumulated...Ch. 14 - Mountain Water Corp. issued common stock of 28,000...Ch. 14 - Prob. 8QCCh. 14 - Prob. 9AQCCh. 14 - If accrued liabilities increased during the year,...
Ch. 14 - Prob. 1RQCh. 14 - How does the statement of cash flows help users of...Ch. 14 - Describe the three basic types of cash flow...Ch. 14 - What types of transactions are reported in the...Ch. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Explain why depreciation expense, depletion...Ch. 14 - Prob. 8RQCh. 14 - If current assets other than cash increase, what...Ch. 14 - If current liabilities increase, what is the...Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15ARQCh. 14 - Prob. 16BRQCh. 14 - Describing the purposes of the statement of cash...Ch. 14 - Prob. 14.2SECh. 14 - Classifying items on the indirect statement of...Ch. 14 - Computing cash flows from operating...Ch. 14 - Prob. 14.5SECh. 14 - Prob. 14.6SECh. 14 - Prob. 14.7SECh. 14 - Prob. 14.8SECh. 14 - Prob. 14.9SECh. 14 - Prob. 14.10SECh. 14 - Preparing a statement of cash flows using the...Ch. 14 - Prob. 14.12SECh. 14 - Preparing the direct method statement of cash...Ch. 14 - Prob. 14.14SECh. 14 - Prob. 14.15SECh. 14 - Classifying cash flow items Consider the following...Ch. 14 - Prob. 14.17ECh. 14 - Prob. 14.18ECh. 14 - Prob. 14.19ECh. 14 - Prob. 14.20ECh. 14 - Prob. 14.21ECh. 14 - Prob. 14.22ECh. 14 - Prob. 14.23ECh. 14 - Prob. 14.24ECh. 14 - Prob. 14.25ECh. 14 - Prob. 14.26ECh. 14 - Prob. 14.27ECh. 14 - Prob. 14.28ECh. 14 - Prob. 14.29ECh. 14 - Prob. 14.30ECh. 14 - Using a spreadsheet to prepare the statement of...Ch. 14 - Prob. 14.32APCh. 14 - Prob. 14.33APCh. 14 - Prob. 14.34APCh. 14 - Prob. 14.35APCh. 14 - Preparing the statement of cash flows----direct...Ch. 14 - Prob. 14.37APCh. 14 - Prob. 14.38APCh. 14 - Prob. 14.39BPCh. 14 - Prob. 14.40BPCh. 14 - Prob. 14.41BPCh. 14 - Prob. 14.42BPCh. 14 - Prob. 14.43BPCh. 14 - Prob. 14.44BPCh. 14 - Using a spreadsheet to prepare the statement of...Ch. 14 - Prob. 14.46CPCh. 14 - Prob. 14.1CTDCCh. 14 - Moss Exports is having a bad year. Net income is...Ch. 14 - Details about a company's cash flows appear in a...
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
- In its fiscal 2010 balance sheet, Big Lots, Inc. reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, cash and equivalents had decreased to $177,539 thousand. The Company's statement of cash flows reported from operating activities of $315,257 thousand, cash from financing activities of $(306,899) thousand. What amount did the company report for cash from investing activities? a) $8,358 thousand cash inflow b) $106,194 thousand cash outflow c) $114,552 thousand cash outflow d) $114,552 thousand cash inflowarrow_forwardPreparing a statement of cash flows using the direct method Jelly Bean, Inc. began 2018 with cash of $58,000. During the year, Jelly Bean earned revenue of $595,000 and collected $614,000 from customers. Expenses for the year totaled $427,000, of which Jelly Bean paid $212,000 in cash to suppliers and $205,000 in cash to employees. Jelly Bean also paid $148,000 to purchase equipment and a cash dividend of $57,000 to its stockholders during 2018. Prepare the company’s statement of cash flows for the year ended December 31, 2018. Format operating activities by the direct method.arrow_forwardRon Nord and Lisa Smith are examining the following statement of cash fl ows for Carpino Company for the year ended January 31, 2012. CARPINO COMPANY Statement of Cash Flows For the Year Ended January 31, 2012 Sources of cash From sales of merchandise $380,000 From sale of capital stock 420,000 From sale of investment (purchased below) 80,000 From depreciation 55,000 From issuance of note for truck 20,000 From interest on investments 6,000 Total sources of cash 961,000 Uses of cash For purchase of fi xtures and equipment 330,000 For merchandise purchased for resale 258,000 For operating expenses (including depreciation) 160,000 For purchase of investment 75,000 For purchase of truck by issuance of note 20,000 For purchase of treasury stock 10,000 For interest on note payable 3,000 Total uses of cash 856,000 Net increase in cash $105,000 Ron claims that Carpino’s statement of cash fl ows is an excellent portrayal of a superb fi rst year with cash…arrow_forward
- During 2017, Simms Company redeemed $2,000,000 ofbonds payable for $1,880,000 cash. Indicate how thistransaction would be reported on a statement of cashflows, if at all.arrow_forwardColbert Corporation had the following 2017 income statement. Revenues $100,000 Expenses 60,000 $ 40,000 In 2017, Colbert had the following activity in selected accounts. Check the below image for selected account's activity. Prepare Colbert’s cash flows from operating activities section of the statement of cash flows using (a) the direct method and (b) the indirect method.arrow_forwardBloom Corporation had the following 2017 income statement. Check the below image for income statements. The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $11,000, and Accounts Payable $13,000.Prepare the cash flows from operating activities section of Bloom’s 2017 statement of cash flows using the direct method.arrow_forward
- In its fiscal year ended February 2, 2013 balance sheet, Big Lots, Inc., reported cash and equivalents at the start of the year of $68,547 thousand. By the end of the year, the cash and cash equivalents had decreased to $60,581 thousand. The company's statement cash flows reported cash from operating activities of $281,133 thousand, cash from financing activities of $(158,742) thousand. What amount did the company report for cash from investing activities?arrow_forwardAnalysis reveals that a company had a net increase in cash of $21,540 for the current year. Net cash provided by operating activities was $19,400; net cash used in investing activities was $10,700 and net cash provided by financing activities was $12,840. If the year-end cash balance is $26,100, the beginning cash balance was: $47,640. $16,980. $4,560. $42,080. $43,080.arrow_forwardCapstone Turbine Corporation produces and sells turbine generators for such applications as charging electric, hybrid vehicles. Capstone Turbine reported the following financial data for a recent year (in thousands): Net cash flows from operating activities $(23,018) Cash and cash equivalents 32,221 a. Determine the monthly cash expenses. Round to one decimal place.b. Determine the ratio of cash to monthly cash expenses. Round to one decimal place.c. Based on your analysis, do you believe that Capstone Turbine will remainin business?arrow_forward
- On December 31, 2018, Coldstone Company reported net income of $70,000 and sales of $210,000. The company also reported beginning and ending accounts receivable at $20,000 and $25,000, respectively. Coldstone will report cash collected from customers in its 2018 statement of cash flows (direct method) in the amount of: a.$285,000 b.$215,000 c.$135,000 d.$205,000arrow_forwardAmes Company reported 2017 net income of $151,000. During 2017, accounts receivable increased by $13,000 and accounts payable increased by $9,500. Depreciation expense was $44,000. Prepare the cash flows from operating activities section of the statement of cash flows.arrow_forwardThe accounting staff of Corny, Inc., has assembled the following information for the year ended December 31, 2011: Using this information, prepare a statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
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