Question
The following information is available for Jack's jewelery and gift store: Net income: $5,000 Depreciation expense:...
The following information is available for Jack's jewelery and gift store:
Net income: $5,000
Depreciation expense: $2,500
increase in deferred tax liabilities: 500
decrease in accounts receivables: 2,000
increase in inventories: 9,000
decrease in accounts payable: 5,000
increase in accrued liabilities: 1,000
Increase in property/equipment: 14,000
increase in short-term notes payable: 19,000
decrease in long-term bonds payable: 3,000
stock repurchase: 1000
-
What is the net cash flow from operating activities?
Homework Answers
Answer #1
The answer has been presenetd in the supporting sheet. For detailed answer refer to the supporting sheet.
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Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for...
Becker Inc. reported net income of $560,000 on its income
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Please Solve As soon as
Solve quickly I get you two UPVOTE directly
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Abdul-Rahim Taysir
income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000...
income statement
Sales
205,000
cost of goods sold
-97,000
salaries expense
-24,000
depreciation expense
-16,000
interest expense
-2,400
loss on equipment disposal
-2,500
net income
63,100
Statement of Retained Earnings
Beginning Balance - Retained Earnings
6,000
Plus - Net Income
63,100
Less - Dividends
(41,500)
Ending Balance - Retained Earnings
27,600
Balance sheets
2018
2019
change
Assets:
Cash
13,000
64,600
51,600
Accounts Receivable
25,000
19,000
(6,000)
Inventory
19,000
13,000
(6,000)
prepaid expenses
0
0
0
Equipment
60,000
41,000
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The following information were extracted from its financial statements of Avatar Corporation: Net Loss ($15,800) Depreciation...
The following information were extracted from its financial
statements of Avatar Corporation:
Net Loss
($15,800)
Depreciation
$25,300
Issuance of bonds payable
$31,400
Payment of dividend
$5,300
Purchase of equipment
$1,200,000
Sale of equipment
$320,000
Increase in inventory
$12,000
Issuance of common stock
$28,000
Loss on sale of equipment
$42,000
Purchase of treasury stock
$38,000
Increase in accounts payable
$14,000
Increase in accounts receivable
$9,000
Decrease in accrued liability
$1,000
Required:
Prepare a statement showing the computation of the company’s net...
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1. The data given below are from the accounting records of the
Kuhn Corporation:
Net Income (accrual basis)
$
45,000
Depreciation Expense
$
9,000
Decrease in Accounts Payable
$
2,500
Decrease in Inventory
$
3,000
Increase in Bonds Payable
$
10,000
Sale of Common Stock for cash
$
30,000
Increase in Accounts Receivable
$
4,500
Based on this information, the net cash provided by (used in)
operating activities using the indirect method would be:
Multiple Choice
$55,000
$58,000
$50,000
$60,000...
Statement of Cash Flows Year ended: 2019 Operating activities Net Income $312 Adjustments Depreciation expense 125...
Statement of Cash Flows
Year ended:
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Operating activities
Net Income
$312
Adjustments
Depreciation expense
125
Changes in working capital
Accounts receivable
(60)
Inventories
(100)
Accounts payable
43
Accrued taxes and expenses
25
Cash provided by operating
activities
$345
Investing activities
Purchases of fixed assets
(250)
Cash provided by investing
activities
($250)
Financing activities
Notes payable
25
Long-term financing issuances
125
Common stock dividends
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Cash provided by financing
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$10
Cash and equivalents increase (decrease)
105
Cash and equivalents...
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Increase (Decrease)
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Inventory
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Prepaid
insurance
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Accounts
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Income taxes
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1,650
Dividends
payable
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A.
Prepare the Cash Flows from
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b. Amortization expense
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