Homework Answers
| Cash flows from operating activities | ||
| Net Income | $ 287,600 | |
| Adjustments to reconcile net income to net cash flow from operating activities | ||
| Depreciation expense | $ 46,000 | |
| Gain on disposal of equipment | $ (26,830) | |
| Changes in current assets and liabilities | ||
| Increase in accounts receivable | $ (7,160) | |
| Decrease in inventory | $ 4,080 | |
| Decrease in prepaid insurance | $ 1,530 | |
| Decrease in accounts payable | $ (4,860) | |
| Increase in income tax payable | $ 1,530 | |
| Net cash provided (used) by operating activities | $ 301,890 |
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Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year:...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
Show Me How Calculator Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following...
Show Me How Calculator Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for year: Depreciation expense $46,400 Gain on disposal of equipment 27,050 Net Income 333,300 The changes in the current asset and liability accounts for the year are as follows: Accounts receivable Inventory Prepaid insurance Increase (Decrease) $7,220 (4,110) (1,540) (4,900) Accounts payable Income taxes payable 1,540 Dividends payable 1,030 a. Prepare the Cash Flows from Operating Activities section of the statement of cash...
Cash Flows from Operating Activities-Indirect Method Selected data (in thousands) derived from the income statement and...
Cash Flows from Operating Activities-Indirect Method Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for a recent year are as follows: Income statement data: Net income $49,335 Gain on disposal of property 1,170 Depreciation expense 11,615 Other items involving noncash expenses 1,400 Balance sheet data: Increase in accounts receivable 1,750 Decrease in inventory 1,025 Increase in prepaid expenses 560 Decrease in accounts payable 695 Decrease in accrued and other current liabilities 955...
Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the...
Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the income statement for the current year was $146,300. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,760 $52,220 Accounts receivable (net) 40,700 38,590 Merchandise inventory 55,570 58,750 6,240 4,960 Prepaid expenses Accounts payable (merchandise...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $144,300. Depreciation recorded on store equipment for the year amounted to $23,800. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $57,140 $52,570 Accounts receivable (net) 40,970 38,850 Inventories 55,940 59,140 Prepaid expenses 6,290 4,990 Accounts payable (merchandise creditors) 53,540 49,730 Wages payable...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $116,900. Depreciation recorded on store equipment for the year amounted to $19,300. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $45,240 $41,170 Accounts receivable (net) 32,440 30,420 Merchandise inventory 44,290 46,320 Prepaid expenses 4,980 3,910 Accounts payable (merchandise creditors) 42,390 38,950 Wages...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $139,400. Depreciation recorded on store equipment for the year amounted to $23,000. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,460 $51,940 Accounts receivable (net) 40,480 38,380 Merchandise inventory 55,270 58,430 Prepaid expenses 6,210 4,930 Accounts payable (merchandise creditors) 52,900 49,140 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors) 66,470 69,070...
The income statement disclosed the following items for the year: depreciation expense $55500 gain on disposal...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
Cash Flows from Operating Activities,Indirect Method The income statement disclosed the following items for the year: Depreciation expense $57,600 Gain on disposal of equipment 33,600 Net income 508,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable Inventory Prepaid insurance $8,960 (5,120) (1,920) (6,080) 1,410 Accounts payable Income taxes payable Dividends payable 2,200 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the...
Show Me How Calculator Cash Flows from Operating Activities-Indirect Method The income statement disclosed the following items for year: Depreciation expense $46,400 Gain on disposal of equipment 27,050 Net Income 333,300 The changes in the current asset and liability accounts for the year are as follows: Accounts receivable Inventory Prepaid insurance Increase (Decrease) $7,220 (4,110) (1,540) (4,900) Accounts payable Income taxes payable 1,540 Dividends payable 1,030 a. Prepare the Cash Flows from Operating Activities section of the statement of cash...
Cash Flows from Operating Activities-Indirect Method Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for a recent year are as follows: Income statement data: Net income $49,335 Gain on disposal of property 1,170 Depreciation expense 11,615 Other items involving noncash expenses 1,400 Balance sheet data: Increase in accounts receivable 1,750 Decrease in inventory 1,025 Increase in prepaid expenses 560 Decrease in accounts payable 695 Decrease in accrued and other current liabilities 955...
Cash Flows from Operating Activities-Indirect Method Operating Activities Indirect Method The net income reported on the income statement for the current year was $146,300. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $56,760 $52,220 Accounts receivable (net) 40,700 38,590 Merchandise inventory 55,570 58,750 6,240 4,960 Prepaid expenses Accounts payable (merchandise...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $128,100. Depreciation recorded on store equipment for the year amounted to $21,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $51,370 $46,750 Accounts receivable (net) 36,830 34,550 Merchandise inventory 50,290 52,590 Prepaid expenses 5,650 4,440 Accounts payable (merchandise creditors) 48,130 44,230 Wages...
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $213,300. Depreciation recorded on equipment and a building amounted to $63,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $59,510 $61,890 Accounts receivable (net) 75,460 76,370 Inventories 148,780 131,580 Prepaid expenses 8,270 8,730 Accounts payable (merchandise creditors) 66,470 69,070...
The income statement disclosed the following items for the
year:
depreciation expense $55500
gain on disposal of equipment 32390
net income 423000
Ch. 16 Interactive HW+video eBook Show Me How Calculator Print Net Income 423,000 The changes in the current asset and ability accounts for the year are as follows: Increase (Decrease) Accounts receivable 58,650 Inventory (4,920) Prepaid insurance (1,850) Accounts payable (5.860) Income taxes payable 1.850 Dividends payable 1,300 a. Prepare the Cash Flows from Operating Activities section of...
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