Ayayai Corp. reported a net loss of $14100 for the year ended
December 31, 2022. During...
Ayayai Corp. reported a net loss of $14100 for the year ended
December 31, 2022. During the year, accounts receivable decreased
$7050, inventory increased $11280, accounts payable increased by
$14100, and depreciation expense of $8460 was recorded. During
2022, operating activities
used net cash of $9870.
used net cash of $4230.
provided net cash of $4230.
provided net cash of $9870.
Jarvis, Inc. reported net income of $59,000 for the year ended
December 31, 2018 Included in...
Jarvis, Inc. reported net income of $59,000 for the year ended
December 31, 2018 Included in net income were depreciation expense
of $8,400 and a gain on sale of equipment of $1,700. Each of the
following accounts increased during 2018:
Accounts
receivable
$2,200
Inventory
$4,500
Prepaid
rent
$6,800
Available-for-sale securities $1,000
(These are Investments)
Accounts
payable
$5,000
18. What is the amount of
cash provided by operating activities for Jarvis, Inc. for the year
ended December 31, 2018?
Sheridan Company reported net income of $67000 for the year.
During the year, accounts receivable decreased...
Sheridan Company reported net income of $67000 for the year.
During the year, accounts receivable decreased by $7900, accounts
payable increased by $4500 and depreciation expense of $5200 was
recorded. Net cash provided by operating activities for the year
is
$84600.
$54600.
$65200.
$61800.
Exercise 13-5
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017,...
Exercise 13-5
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented here.
Scoggin’s net income for 2017 was $150,500. Depreciation expense
was $25,000.
2017
2016
Current assets
Cash
$107,500
$97,200
Accounts receivable
108,300
77,200
Inventory
159,000
172,100
Prepaid expenses
26,200
25,000
Total current assets
$401,000
$371,500
Current liabilities
Accrued expenses payable
$14,400
$8,100
Accounts payable
85,700
95,900
Total current liabilities
$100,100
$104,000
Prepare the net cash provided by operating activities section of
the...
Income Statement Covid Company for the year ended December 31,
2019 shows sales revenue $6,000,000 and...
Income Statement Covid Company for the year ended December 31,
2019 shows sales revenue $6,000,000 and COGS $3,800,000 . Accounts
receivable increased $250,000 during the year, and inventory
decreased $300,000. Accounts payable to suppliers of merchandise
decreased $450,000 during the year. Accrued expenses payable
decreased $90,000 during the year. Operating expenses include
depreciation expense of $1,600,000. Depreciation expense was
$100,000. Prepare Statement of Cash Flow Operating Activities
Section for Covid Company.
A) Net income is $50,000. During the year, the company had
$20,000 depreciation expense and a...
A) Net income is $50,000. During the year, the company had
$20,000 depreciation expense and a gain on sale of assets of
$15,027. In addition, accounts receivable increased $7000, supplies
decreased $9000 and accounts payable increased $5,000. What is the
net cash provided by operations under the indirect method?
B) Net income is $50,000. During the year, accounts payable
increased $7,000, inventory decreased $5000, and accounts
receivable increased $27,000. What is the net cash provided by
operations under the indirect...
1. Hilton Company reported net income of $50,000 for the year.
During the year, accounts receivable...
1. Hilton Company reported net income of $50,000 for the year.
During the year, accounts receivable decreased by $15,000, accounts
payable decreased by $2,000 and depreciation expense for the year
of $9,000 was recorded.
Net cash provided by operating activities for the year is:
2. Land costing $75,000 was sold for $115,000 cash.
The gain on the sale was reported on the income statement as other
income.
In addition, a building worth $400,000 was acquired by borrowing
the money on a...
A company had net income of $209000. Depreciation expense is
$26500. During the year, Accounts Receivable...
A company had net income of $209000. Depreciation expense is
$26500. During the year, Accounts Receivable and Inventory
increased $16500 and $41500, respectively. Prepaid Expenses and
Accounts Payable decreased $4500 and $5500, respectively. There was
also a loss on the sale of equipment of $1500. How much cash was
provided by operating activities?
WINDSOR INC.
COMPARATIVE BALANCE SHEET ACCOUNTS
AS OF DECEMBER 31, 2017 AND 2016
December 31
Debit...
WINDSOR INC.
COMPARATIVE BALANCE SHEET ACCOUNTS
AS OF DECEMBER 31, 2017 AND 2016
December 31
Debit Accounts
2017
2016
Cash
$42,200
$33,900
Accounts Receivable
71,100
60,200
Inventory
30,100
24,100
Equity investments
22,500
38,700
Machinery
29,900
18,900
Buildings
67,800
56,400
Land
7,600
7,600
$271,200
$239,800
Credit Accounts
Allowance for Doubtful Accounts
$2,200
$1,500
Accumulated Depreciation—Machinery
5,700
2,300
Accumulated Depreciation—Buildings
13,600
9,000
Accounts Payable
34,700
24,500
Accrued Payables
3,500
2,600
Long-Term Notes Payable
21,100
30,700
Common Stock, no-par
150,000
125,000
Retained Earnings...
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented...
The current sections of Scoggin Inc.’s balance sheets at
December 31, 2016 and 2017, are presented here.
Scoggin’s net income for 2017 was $154,700. Depreciation expense
was $23,300.
2017
2016
Current assets
Cash
$102,700
$97,700
Accounts receivable
109,400
80,000
Inventory
158,200
173,000
Prepaid expenses
26,900
25,900
Total current assets
$397,200
$376,600
Current liabilities
Accrued expenses payable
$15,000
$9,300
Accounts payable
84,000
95,600
Total current
liabilities
$99,000
$104,900
Prepare the net cash provided by operating activities section of
the company’s statement...