QS 12-4 Indirect: Computing cash flows from operations LO P2
QS 12-4 Indirect: Computing cash flows from operations LO P2
Cain Inc. reports net income of $17,800. Its comparative balance sheet shows the following changes: accounts receivable increased $8,800; inventory decreased $10,800; prepaid insurance decreased $3,800; accounts payable increased $5,800 and taxes payable decreased $4,800. Compute cash flows from operations using theindirect method. (Amounts to be deducted should be indicated by a minus sign.)
Homework Answers
| Cash flows from operating activities | |||||||
| net income | 17,800 | ||||||
| Adjustments to reconcile net income | |||||||
| changes in current assets and liabiliites | |||||||
| increase in accounts receivable | -8,800 | ||||||
| decrease in inventory | 10,800 | ||||||
| decreaase in prepaid insurance | 3,800 | ||||||
| increase in accounts payable | 5,800 | ||||||
| decrease in taxes payable | -4,800 | ||||||
| Cash flows from operating activities | 24,600 | ||||||
Problem 12-1A Indirect: Computing cash flows from operations LO P2
Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. Problem 12-1A Indirect: Computing cash flows from operations LO P2 Required: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year (Amounts to be deducted should be indicated with a minus sign.)
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its tatement of cash flows for the year ended December 31, 2017 (Amounts to be deducted should be indicated with a minus sign.) Selected Year-End 2017 Balance Sheet Data Selected 2017 Income Statement Data $495,000 Accounts receivable increase 94,500 Prepaid expenses decrease 20,300 Accounts payable increase Net income Depreciation expense Gain on sale...
QS 16-8 Computing cash flows from investing LO P3
QS 16-8 Computing cash flows from investing LO P3Sale of short-term investnents$2,200Cash colleotions from customers5,800Purchase of used equipment1,900Depreciation expense700Compute cash flows from investing activities using the above company information. (Amounts to be deducted should be indicated by a minus sign.)
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable increase $40,000 Depreciation expense 80,000 Prepaid expenses decrease 12,000 Gain on sale of machinery...
QS 16-12 Computing cash flows from investing LO P3
QS 16-12 Computing cash flows from investing LO P3 Sale of short-term stock investments$6,000Cash collections from customers16,000Purchase of used equipment5,000Depreciation expense2,000Compute cash flows from investing activities using the above company information. (Amounts to be deducted should be indicated by a minus sign.)
Exercise 12-3 Indirect: Reporting and interpreting cash flows from operations LO P2 Arundel Company disclosed the...
Exercise 12-3 Indirect: Reporting and interpreting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $ 85,000 Expenses Salaries expense 69,000 Utilities expense Depreciation expense 31,200 Other expenses 7,600 Net loss $(55, 800) Selected Year-End Balance Sheet Data Accounts receivable decrease $29,000 Purchased a machine for cash 21,000 Salaries payable increase 26,000 Other accrued liabilities decrease 14,000 Required: 1. Prepare the operating activities section of the statement of...
Help Save & Ex Saved Cain Inc. reports net income of $15,600. Its comparative balance sheet...
Help Save & Ex Saved Cain Inc. reports net income of $15,600. Its comparative balance sheet shows the following changes: accounts receivable increased $6,600; inventory decreased $8,600: prepaid insurance decreased $1,600; accounts payable increased $3,600 and taxes payable decreased $2,600. Compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash Flows from Operating Activities (Indirect) Adjustments to reconcile net income to net cash provided by operating activities Changes in...
QS 12-22B Direct: Computing cash payments to suppliers LO P5 Bioware Co. reports cost of goods...
QS 12-22B Direct: Computing cash payments to suppliers LO P5 Bioware Co. reports cost of goods sold of $44,200. Its comparative balance sheet shows that inventory decreased $9,200 and accounts payable increased $7,200. Compute cash payments to suppliers using the direct method. Cash Payments to Suppliers (Direct) Cash paid for inventory
QS 12-8 Computing cash flows from Investing LO P3 $ 3.800 Sale of short-term investments Cash...
QS 12-8 Computing cash flows from Investing LO P3 $ 3.800 Sale of short-term investments Cash collections from customers Purchase of used equins Depreciation expense Compute cash flows from investing activites using the above company Information (Amounts to be deducted should be indicated by a minus sign) o 1o 19 fo Investing Activities
Exercise 12.6 Indirect: Cash flow from。perations LO P2 Salud Company reports the following information. Use the...
Exercise 12.6 Indirect: Cash flow from。perations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Selected Annual Income Statement Data Net income Depreciation expense Gain on sale of machinery Selected Year-End Balance Sheet Data $400,000 Accounts receivable increase 80,000 Prepaid expenses decrease 20,000 Accounts payable increase $40,000...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its tatement of cash flows for the year ended December 31, 2017 (Amounts to be deducted should be indicated with a minus sign.) Selected Year-End 2017 Balance Sheet Data Selected 2017 Income Statement Data $495,000 Accounts receivable increase 94,500 Prepaid expenses decrease 20,300 Accounts payable increase Net income Depreciation expense Gain on sale...
Exercise 12-6 Indirect: Cash flow from operations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) 16.66 points Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $400,000 Accounts receivable increase $40,000 Depreciation expense 80,000 Prepaid expenses decrease 12,000 Gain on sale of machinery...
Exercise 12-3 Indirect: Reporting and interpreting cash flows from operations LO P2 Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues $ 85,000 Expenses Salaries expense 69,000 Utilities expense Depreciation expense 31,200 Other expenses 7,600 Net loss $(55, 800) Selected Year-End Balance Sheet Data Accounts receivable decrease $29,000 Purchased a machine for cash 21,000 Salaries payable increase 26,000 Other accrued liabilities decrease 14,000 Required: 1. Prepare the operating activities section of the statement of...
Help Save & Ex Saved Cain Inc. reports net income of $15,600. Its comparative balance sheet shows the following changes: accounts receivable increased $6,600; inventory decreased $8,600: prepaid insurance decreased $1,600; accounts payable increased $3,600 and taxes payable decreased $2,600. Compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Cash Flows from Operating Activities (Indirect) Adjustments to reconcile net income to net cash provided by operating activities Changes in...
QS 12-22B Direct: Computing cash payments to suppliers LO P5 Bioware Co. reports cost of goods sold of $44,200. Its comparative balance sheet shows that inventory decreased $9,200 and accounts payable increased $7,200. Compute cash payments to suppliers using the direct method. Cash Payments to Suppliers (Direct) Cash paid for inventory
QS 12-8 Computing cash flows from Investing LO P3 $ 3.800 Sale of short-term investments Cash collections from customers Purchase of used equins Depreciation expense Compute cash flows from investing activites using the above company Information (Amounts to be deducted should be indicated by a minus sign) o 1o 19 fo Investing Activities
Exercise 12.6 Indirect: Cash flow from。perations LO P2 Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Selected Annual Income Statement Data Net income Depreciation expense Gain on sale of machinery Selected Year-End Balance Sheet Data $400,000 Accounts receivable increase 80,000 Prepaid expenses decrease 20,000 Accounts payable increase $40,000...
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