MC Qu. 132 In preparing a company's...
In preparing a company's statement of cash flows for...
MC Qu. 132 In preparing a company's...
In preparing a company's statement of cash flows for the most
recent year using the indirect method, the following information is
available:
Net income for the
year was
$
70,000
Accounts payable increased
by
36,000
Accounts receivable decreased
by
61,000
Inventories decreased by
23,000
Cash dividends paid were
32,000
Depreciation expense was
56,000
Net cash provided by operating activities was:
Multiple Choice
$246,000.
$106,000.
$60,000.
$200,000.
$107,000.
MC Qu. 133 In preparing a...
MC Qu. 129 A companys income statement...
A company's income statement showed the following: net income,...
MC Qu. 129 A companys income statement...
A company's income statement showed the following: net income,
$148,000 and depreciation expense, $37,200. An examination of the
company's current assets and current liabilities showed the
following changes as a result of operating activities: accounts
receivable decreased $11,800; merchandise inventory increased
$22,800; and accounts payable increased $5,800. Calculate the net
cash provided or used by operating activities.
Multiple Choice
$144,800.
$180,000.
$142,000.
$214,000.
$190,400.
MC Qu. 170 Fernwood Company is...
Fernwood Company is...
Adjustments to Net Income with the Indirect Method
Assume that a company uses the indirect method...
Adjustments to Net Income with the Indirect Method
Assume that a company uses the indirect method to prepare the
Operating Activities section of the statement of cash flows.
For each of the following items, indicate whether it would be
Added to net income, Deducted from net income, or Not Reported in
this section of the statement under the indirect method.
The options for each are added, deducted or not
reported
1. Depreciation expense
2. Gain on sale of used delivery...
In preparing a company's statement of cash flows for the most
recent year using the indirect...
In preparing a company's statement of cash flows for the most
recent year using the indirect method, the following information is
available:
Net income for the
year was
$
62,000
Accounts payable increased
by
28,000
Accounts receivable decreased
by
45,000
Inventories decreased by
15,000
Cash dividends paid were
24,000
Depreciation expense was
40,000
Net cash provided by operating activities was:
Multiple Choice
$44,000.
$91,000.
$90,000.
$160,000.
$190,000.
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Merrick Equipment Co. for
December 31,...
Statement of Cash Flows—Indirect Method
The comparative balance sheet of Merrick Equipment Co. for
December 31, 20Y9 and 20Y8, is as follows:
Dec. 31, 20Y9
Dec. 31, 20Y8
Assets
Cash
$222,710
$208,610
Accounts receivable (net)
80,680
74,920
Inventories
227,760
221,840
Investments
0
85,940
Land
116,820
0
Equipment
251,290
196,120
Accumulated depreciation—equipment
(58,830)
(52,890)
Total assets
$840,430
$734,540
Liabilities and Stockholders'
Equity
Accounts payable
$152,120
$144,700
Accrued expenses payable
15,130
19,100
Dividends payable
8,400
6,610
Common stock, $10 par
45,380
35,990...
Statement of Cash Flows—Indirect Method The comparative balance
sheet of Merrick Equipment Co. for December 31,...
Statement of Cash Flows—Indirect Method The comparative balance
sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is
as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $239,430
$222,980 Accounts receivable (net) 86,740 80,090 Inventories
244,850 237,110 Investments 0 91,860 Land 125,590 0 Equipment
270,150 209,640 Accumulated depreciation—equipment (63,250)
(56,530) Total assets $903,510 $785,150 Liabilities and
Stockholders' Equity Accounts payable $163,540 $154,670 Accrued
expenses payable 16,260 20,410 Dividends payable 9,040 7,070 Common
stock, $10 par 48,790 38,470...
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 Garfield Ltd company uses the indirect method for preparing
its statement of cash flows. It...
The Garfield Ltd company uses the indirect method for preparing
its statement of cash flows. It reported a net income of $100,000
for the year 2016.
During the year 2016, the working capital accounts were changed
as follows:
Increase in accounts receivable: $22,000
Increase in accounts payable: $18,600
Increase in inventory: $14,800
Decrease in non-trade notes payable: $30,000
Increase in available for sale securities: $32,000
The depreciation expense was $34,000 for the year 2016.
Required:
Compute net cash provided (used)...
P13-3A Prepare the
operating activities section - indirect method
The income statement of
Whitlock Company is...
P13-3A Prepare the
operating activities section - indirect method
The income statement of
Whitlock Company is presented here.
WHITLOCK COMPANY
Income Statement
For the Year Ended November 30, 2015
Sales revenue
$7,700,000
Cost of goods sold
Beginning inventory
$1,900,000
Purchases
4,400,000
Goods available for sale
6,300,000
Ending inventory
1,400,000
Total cost of goods sold
4,900,000
Gross profit
2,800,000
Operating expenses
1,150,000
Net income
1,650,000
Additional information:
1.
Accounts receivable increased $200,000 during the
year, and inventory...
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...