Question
Calculate cash flow from operating activities using the following information. Net income &nbs
Calculate cash flow from operating activities using the following information.
Net income 60,000 Purchase of new machine 35,000
Depreciation expense 10,000 Increase in Accts. Receivable 15,000
Loss on sale of machine 9,000 Decrease in Prepaid Expenses 7,000
Increase in Accts. Payable 14,000
Decrease in Accrued Liabilities 4,000
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
Statement of Cash Flows (Indirect method) Particulars Amount Cash Flow from operating activities: Net Income for...
Statement of Cash Flows (Indirect method)
Particulars
Amount
Cash Flow from operating activities:
Net Income for 2019
$58,850
Adjustments:
Gain on sale of land
($8,000)
Gain on sale of long term investment
($4,000)
Depreciation
$35,500
Amortization expense
$5,000
Increase in accounts receivable
($4,550)
Increase in Dividend receivable
($1,000)
Increase in Inventories
($7,000)
Decrease in Prepaid rent
$9,000
Increase in Prepaid Insurance
($1,200)
Increase in Office Supplies
($250)
Decrease in Accounts payable
($4,000)
Increase in Income tax payable
$1,000
Increase in...
Indicate whether each of the following items would result in net cash flow from operating activities...
Indicate whether each of the following items would result in net
cash flow from operating activities being higher (H) or lower (L)
than net income.
a. Increase in accounts payable
b. Amortization expense
c. Decrease in accrued liabilities
d. Loss on sale of assets
e. Decrease in accounts receivable
f. Decrease in deferred tax assets
g. Increase in deferred revenue
h. Decrease in income taxes payable
i. Decrease in prepaid expenses
Determining Net Income from Net Cash Flow from Operating Activities Curwen Inc. reported net cash flow...
Determining Net Income from Net Cash Flow from Operating
Activities
Curwen Inc. reported net cash flow from operating activities of
$216,900 on its statement of cash flows for the year ended December
31. The following information was reported in the Cash Flows from
Operating Activities section of the statement of cash flows, using
the indirect method:
Decrease in income taxes payable
$4,800
Decrease in inventories
12,000
Depreciation
18,400
Gain on sale of investments
8,300
Increase in accounts payable
3,300
Increase...
Calculating Net Cash Flow from Operating Activities (Indirect Method) Weber Company had a $21,000 net loss...
Calculating Net Cash Flow from Operating Activities (Indirect
Method)
Weber Company had a $21,000 net loss from operations for 2016.
Depreciation expense for 2016 was $8,600 and a 2016 cash dividend
of $6,000 was declared and paid. Balances of the current asset and
current liability accounts at the beginning and end of 2016 follow.
Did Weber Company’s 2016 operating activities provide or use cash?
Use the indirect method to determine your answer.
Ending
Beginning
Cash
$3,500
$7,000
Accounts Receivable
16,000...
Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant assets and reported...
Net Cash Flow from Operating Activities (Indirect Method)
Lincoln Company owns no plant assets and reported the following
income statement for the current year.
Sales
$ 810,000
Cost of goods sold
$ 470,000
Wages expense
110,000
Rent expense
42,000
Insurance expense
15,000
637,000
Net income
$ 173,000
Additional balance sheet information about the company follows.
End of Year
Beginning of Year
Accounts receivable
$ 54,000
$ 49,000
Inventory
60,000
65,000
Prepaid insurance
10,000
7,000
Accounts payable
22,000
17,000
Wages payable...
The following items involve the cash flow activities of Prizzie Company for 2020: Net income $162,000...
The following items involve the cash flow activities of Prizzie
Company for 2020:
Net income
$162,000
Payment of dividends
25,000
1,000 shares of stock issued at $20 par
20,000
Amortization expense on patents
7,000
Plant assets acquired at a cost of
75,000
Accounts receivable increase of
9,000
Accounts payable decrease of
10,000
Salaries payable increase of
6,500
Beginning cash balance
18,000
Required:
Prepare the statement of cash flows of Prizzie Company for 2020
using the indirect method.
Labels
Financing Activities...
Q3. Calculate cash flow from operating activities from the following data: *Profits made during the year...
Q3.
Calculate cash flow from operating
activities from the following
data:
*Profits made
during the year SAR. 145,000 after considering the following
items:
Amortization of
Goodwill
3,000
Depreciation of Fixed
Assets
17,000
Loss on Sale of Fixed
Assets
2,500
Transfer to General
Reserve
15,000
The following is the
position of current assets and current liabilities:
Particulars
31.3.07
31.3.08
Creditors
Debtors
Prepaid
Expenses
Bills Payable
12,000
16,200
250
5,000
8,200
12,000
750
7,000
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from
operating activities to net income are provided below ($ in 000s)
for Peach Computers.
PEACH COMPUTERS
Income Statement
For the Year Ended December 31, 2018
Sales
$
530.0
Cost of goods sold
(318.0
)
Gross margin
212.0
Salaries expense
$
63.0
Insurance expense
40.0
Depreciation expense
19.0
Loss on sale of land
17.0
139.0
Income before tax
73.0
Income tax expense
(36.5
)
Net income
$
36.5
Reconciliation of Net...
The income statement and a schedule reconciling cash flows from operating activities to net income are...
The income statement and a schedule reconciling cash flows from
operating activities to net income are provided below ($ in
thousands) for Peach Computers.
PEACH COMPUTERS
Income Statement
For the Year Ended December 31, 2018
Sales
$
305
Cost of goods sold
(185
)
Gross margin
120
Salaries expense
$
41
Insurance expense
19
Depreciation expense
11
Loss on sale of land
5
76
Income before tax
44
Income tax expense
(22
)
Net income
$
22
Reconciliation of Net...
The financial statements of Vargas Corp. provide the following information. Calculate the cash provided from operating...
The financial statements of Vargas Corp. provide the following
information. Calculate the cash provided from operating
activities.
Net Income $250,000, Depreciation expense $19,000, Loss on the
Disposal of Equipment $8,000, Increase in Accounts Receivable
$11,000, Decrease in Inventory $2,500, Increase in Pre-Paid
expenses $4,000, Dividends Paid $5,500, Increase in Accounts
Payable $15,000, Decrease in Income Tax Payable $2,500.
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 16 minutes ago
asked 22 minutes ago
asked 22 minutes ago
asked 50 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago