Cash Flow Statement: Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time. The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities. In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity. To determine: The amount of net income reported by K Company in 2017.

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Answer 1

Question

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

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The Larsen Company's cost of goods manufactured was $145,000 when its sales were $395,000 and its gross margin was $250,000. If the ending inventory of finished goods was $40,000, the beginning inventory of finished goods must have been __.

Please provide the accurate answer to this general accounting problem using valid techniques.

Please explain the correct approach for solving this general accounting question.

Answer 2

Question

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

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Answer 3

Question

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

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Answer 4

Question

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

Expert Solution & Answer

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Answer 5

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

Answer 6

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

Answer 7

Chapter 17, Problem 17.2AP

(a)

To determine

Cash Flow Statement:

Cash Flow Statement is a fundamental financial statement that renders valuable information regarding the cash inflows or the cash receipts of a business and the cash outflows or cash payments for a specific period of time.

The cash flow statement also provides information regarding the net cash change that occurred during a period, classifying the activities into three categories those are cash from operating activities, investing, and financing activities.

In operating activities, cash affected transactions only recorded. In investing activities, investing transactions are recorded and in financial activities involve cash flows result from changes in long-term liabilities and shareholder’s equity.

To determine: The amount of net income reported by K Company in 2017.

Answer 8

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

Answer 9

(b)

To determine

The cash inflow or outflow related to common stock and dividend account in 2017.

Answer 10

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

Answer 11

(c)

To determine

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 17 - Prob. 1Q Ch. 17 - Prob. 2Q Ch. 17 - Prob. 3Q Ch. 17 - Prob. 4Q Ch. 17 - Prob. 5Q Ch. 17 - Prob. 6Q Ch. 17 - 7. Why is it necessary to use comparative balance...Ch. 17 - 8. Contrast the advantages and disadvantages of...Ch. 17 - Prob. 9Q Ch. 17 - Prob. 10Q

The cash inflow or outflow related to common stock and dividend account in 2017.

To indicate: The classification of the cash inflows or outflows on the cash flow statement.

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