INTERMEDIATE ACCOUNTING ACCESS 540 DAY
10th Edition
ISBN: 9781264706327
Author: SPICELAND
Publisher: MCG
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Chapter 4, Problem 4.13BE
Statement of
• LO4–8
Net income of Mansfield Company was $45,000. The accounting records reveal
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7
Net cash flow from operating a
Question Content Area
Kennedy, Inc., reported the following data:
Net income
$170,619
Depreciation expense
12,699
Loss on disposal of equipment
(8,944)
Gain on sale of building
21,259
Increase in accounts receivable
10,181
Decrease in accounts payable
(2,309)
Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments.
Kennedy, Inc.Statement of Cash Flows
Cash flows from (used for) operating activities:
$- Select -
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
- Select -
- Select -
- Select -
Changes in current operating assets and liabilities:
- Select -
- Select -
$- Select -
Chapter 4 Solutions
INTERMEDIATE ACCOUNTING ACCESS 540 DAY
Ch. 4 - The income statement is a change statement....Ch. 4 - What transactions are included in income from...Ch. 4 - Prob. 4.3QCh. 4 - Prob. 4.4QCh. 4 - Prob. 4.5QCh. 4 - What are restructuring costs and where are they...Ch. 4 - Define intraperiod tax allocation. Why is the...Ch. 4 - How are discontinued operations reported in the...Ch. 4 - What is meant by a change in accounting principle?...Ch. 4 - Prob. 4.10Q
Ch. 4 - The correction of a material error discovered in a...Ch. 4 - Define earnings per share (EPS). For which income...Ch. 4 - Prob. 4.13QCh. 4 - Describe the purpose of the statement of cash...Ch. 4 - Prob. 4.15QCh. 4 - Explain what is meant by noncash investing and...Ch. 4 - Distinguish between the direct method and the...Ch. 4 - Prob. 4.18QCh. 4 - Prob. 4.19QCh. 4 - Show the calculation of the following...Ch. 4 - Show the DuPont frameworks calculation of the...Ch. 4 - Prob. 4.22QCh. 4 - Prob. 4.23QCh. 4 - Prob. 4.1BECh. 4 - Prob. 4.2BECh. 4 - Prob. 4.3BECh. 4 - Prob. 4.4BECh. 4 - Prob. 4.5BECh. 4 - Prob. 4.6BECh. 4 - Prob. 4.7BECh. 4 - Prob. 4.8BECh. 4 - Prob. 4.9BECh. 4 - Prob. 4.10BECh. 4 - Prob. 4.11BECh. 4 - Prob. 4.12BECh. 4 - Statement of cash flows; indirect method LO48 Net...Ch. 4 - Prob. 4.14BECh. 4 - Prob. 4.15BECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Prob. 4.5ECh. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.15ECh. 4 - Prob. 4.23ECh. 4 - Concepts; terminology LO41, LO42, LO43, LO44,...Ch. 4 - Inventory turnover; calculation and evaluation ...Ch. 4 - Prob. 4.29ECh. 4 - Prob. 4.30ECh. 4 - Prob. 4.31ECh. 4 - Prob. 4.32ECh. 4 - Prob. 4.1PCh. 4 - Prob. 4.2PCh. 4 - Prob. 4.3PCh. 4 - Prob. 4.4PCh. 4 - Prob. 4.5PCh. 4 - Prob. 4.6PCh. 4 - Prob. 4.7PCh. 4 - Prob. 4.8PCh. 4 - Prob. 4.9PCh. 4 - Prob. 4.11PCh. 4 - Prob. 4.12PCh. 4 - Use of ratios to compare two companies in the same...Ch. 4 - Prob. 4.15PCh. 4 - Prob. 4.16PCh. 4 - Prob. 4.1DMPCh. 4 - Judgment Case 42 Restructuring costs LO43 The...Ch. 4 - Prob. 4.3DMPCh. 4 - Prob. 4.4DMPCh. 4 - Prob. 4.5DMPCh. 4 - Prob. 4.6DMPCh. 4 - Prob. 4.7DMPCh. 4 - IFRS Case 48 Statement of cash flows;...Ch. 4 - Judgment Case 49 Income statement presentation;...Ch. 4 - Prob. 4.10DMPCh. 4 - Prob. 4.13DMPCh. 4 - Prob. 4.15DMPCh. 4 - Prob. 4.17DMPCh. 4 - Prob. 4.18DMPCh. 4 - Prob. 2CCTC
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- 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_forwardCurrent 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 ofarrow_forwardAsap The following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595) The net cash flows from operating activities using the indirect method is a.$126,307 b.$113,887 c.$66,591 d.$186,023arrow_forward
- PR16-1Aarrow_forwardEB8. LO 16.3 Use the following information from Kentucky Company's financial statements to determine operating net cash flows (indirect method). $176,000 18,750 15,000 12,000 5,500 Net income Depreciation expense Gain on sale of plant assets Increase in accounts receivable Decrease in accounts payablearrow_forwardE5-10 Operating Cash Flows: Direct Method The following are various cash flows and other information for Smyczek Company: LO 5.9 Payments of interest, $8,200 b. Receipt from sale of land, S7,900 Interest collected, S10,000 d. Payment of dividends, $12,100 e. Depreciation expense, $24,700 f. g. Payments of income taxes, $15,400 h. Receipt from issuance of stock, $18,900 Payments to suppliers and employees, $67,500 Increase in inventories, $4,600 a. C. Collections from customers, $101,600 Required: Using the direct method, prepare the operating activities section of Smyczek's statement of cash flows. nte 出能 券券 班arrow_forward
- Kk.401.arrow_forwardProblem 11-4A Prepare a statement of cash flows—indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement, balance sheets, and additional information for Video Phones, Inc., are provided. VIDEO PHONES, INC. Income Statement For the Year Ended December 31, 2021 Net sales $ 2,636,000 Expenses: Cost of goods sold $ 1,600,000 Operating expenses 788,000 Depreciation expense 20,000 Loss on sale of land 7,300 Interest expense 11,500 Income tax expense 41,000 Total expenses 2,467,800 Net income $ 168,200 VIDEO PHONES, INC. Balance Sheets December 31 2021 2020 Assets Current assets: Cash $ 159,180 $ 85,940 Accounts receivable 73,300 53,000 Inventory 105,000 128,000 Prepaid rent 9,120 4,560 Long-term assets: Investments 98,000…arrow_forwardprepare a cashflow statement using indirect methodarrow_forward
- Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities ofarrow_forwardEB4. LO 16.3 Use the following information from Hamlin Company’s financial statements to determine operating net cash flows (indirect method). Net Income $113,750 Change in accumulated depreciation (no sale of depreciable assets this year) $9,800 Gain on sale of investments $11,400arrow_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_forward
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