Question
In: Accounting
In its statement of cash flows issued for the year ending December 31, Oxford Company reported...
In its statement of cash flows issued for the year ending December 31, Oxford Company reported a net cash inflow from operating activities of $123,000. The following adjustments were included in the supplementary schedule reconciling cash flow from operating activities with net income:
| Depreciation | $38,000 |
| Increase in net accounts receivable | 31,000 |
| Decrease in inventory | 27,000 |
| Decrease in accounts payable | 48,000 |
| Increase in interest payable | 12,000 |
Net income is:
Select one:
a. $29,000
b. $41,000
c. $79,000
d. $217,000
e. $125,000
Solutions
Expert Solution
| cash inflow from operating activities | $ 1,23,000 |
| Add: | |
| Increase in net accounts receivable | $ 31,000 |
| Decrease in accounts payable | $ 48,000 |
| Less: | |
| Depreciation | $ 38,000 |
| Decrease in inventory | $ 27,000 |
| Increase in interest payable | $ 12,000 |
| Net Income | $ 1,25,000 |
| Correct Option : e. $125,000 | |
ekkarill92 answered 3 years agoRelated Solutions
In its statement of cash flows issued for the year ending December 31, Oxford Company reported...
In its statement of cash flows issued for the year ending
December 31, Oxford Company reported a net cash inflow from
operating activities of $123,000. The following adjustments were
included in the supplementary schedule reconciling cash flow from
operating activities with net income:
Depreciation
$38,000
Increase in net accounts receivable
31,000
Decrease in inventory
27,000
Increase in accounts payable
48,000
Increase in interest payable
12,000
Net income is:
Select one:
a. $29,000
b. $53,000
c. $105,000
d. $217,000
e. $141,000
In its statement of cash flows issued for the year ending December 31, Oxford Company reported...
In its statement of cash flows issued for the year ending
December 31, Oxford Company reported a net cash inflow from
operating activities of $123. The following adjustments were
included in the supplementary schedule reconciling cash flow from
operating activities with net income:
Patent Amortization
$38
Increase in net accounts receivable
31
Decrease in inventory
27
Decrease in accounts payable
48
Gain on fixed asset sale
12
Net income is:
Select one:
a. $26
b. $149
c. $125
d. $97...
I need assistance with statement of cash flows for year ending December 31, 2017 Selected financial...
I need assistance with statement of cash flows for year ending
December 31, 2017
Selected financial statement information and additional data for
Stanislaus Co. is presented below.
December 31
2016
2017
Cash
$42,180
$72,250
Accounts receivable (net)
85,510
143,900
Inventory
168,090
205,170
Land
58,970
19,050
Equipment
500,780
785,670
TOTAL
$855,530
$1,226,040
Accumulated depreciation
$83,850
$114,170
Accounts payable
49,780
85,600
Notes payable - short-term
66,310
28,470
Notes payable - long-term
168,710
300,210
Common stock
420,990
491,270
Retained earnings
65,890
206,320
TOTAL...
In preparation for developing its statement of cash flows for the year ended December 31, 2018,...
In preparation for developing its statement of cash flows for
the year ended December 31, 2018, Millennium Solutions, Inc.
collected the following information: ($ in millions) Payment for
the early extinguishments of long-term notes (book value: $77.0
million) $ 81.0 Sale of common shares 228.0 Retirement of common
shares 135.0 Loss on sale of equipment 3.3 Proceeds from sale of
equipment 13.2 Issuance of short-term note payable for cash 23.0
Acquisition of building for cash 13.5 Purchase of marketable
securities...
The Murdock Corporation Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows...
The Murdock Corporation
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flows from Operating Activities:
Net Income
$ 50,000
Adjustments to reconcile Net Income to
Net Cash provided by operations
Depreciation Expense
$ 53,000
Gain on Sale of Debt securities
$ (4,500)
Gain on Sale of Equipment
$ 1,000
Increase in Accounts Receivables
$ (11,750)
increase in Inventory
$ (20,000)
Decrease in Prepaid Insurance
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Decrease in Accounts Payable
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Decrease in Salaries Payable...
Prepare a statement of cash flows for the month ending July 31
Seth Feye established Reliance Financial Services on July 1, 20Y2. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow:
Assets
=Liabilities
+ Stockholders’ Equity
Accounts
Accounts
Common
Fees
Salaries
Rent
Auto
Supplies
Misc.
Cash
+Receivable
+ Supplies
= Payable
+ Stock
- Dividends
+ Earned
- Expense
- Expense
- Expense
- Expense
- Expense
a.
+52,000
...
LIVERS INC. Statement of Cash Flows For the Year Ended December 31, 20Y3 Cash flows from...
LIVERS INC.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net
cash
flow from operating activities:
Depreciation
Loss on inventory write down and fixed assets
Gain on sale of investments
Changes in current operating assets and
liabilities:
Increase in accounts receivable
Increase in inventories
Increase in accounts payable
Decrease in accrued expenses payable
Net cash flow from...
LIVERS INC. Statement of Cash Flows For the Year Ended December 31, 20Y3 Cash flows from...
LIVERS INC.
Statement of Cash Flows
For the Year Ended December
31, 20Y3
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net
cash
flow from operating activities:
Depreciation
100,000
Loss on inventory write down and fixed assets
Gain on sale of investments
Changes in current operating assets and
liabilities:
Increase in accounts receivable
(50,000)
Increase in inventories
(20,000)
Increase in accounts payable
40,000
Decrease in accrued expenses payable
(5,000)
Net cash flow from...
In its income statement for the year ended December 31, 2017, Ivanhoe Company reported the following...
In its income statement for the year ended December 31, 2017,
Ivanhoe Company reported the following condensed data.
Salaries and wages expenses
$558,000
Loss on disposal of plant assets
$ 100,200
Cost of goods sold
1,184,400
Sales revenue
2,652,000
Interest expense
85,200
Income tax expense
30,000
Interest revenue
78,000
Sales discounts
192,000
Depreciation expense
372,000
Utilities expense
132,000
(a)
Prepare a multiple-step income statement. (List other
revenues before other expenses.)
IVANHOE COMPANY
Income Statement
For the Month Ended December 31,...
The statement of cash flows for the year ended December 31, 2021, for Bronco Metals is...
The statement of cash flows for the year ended December 31,
2021, for Bronco Metals is presented below.
BRONCO METALS
Statement of Cash Flows
For the Year Ended December 31, 2021
Cash flows from operating activities:
Collections from customers
$
368,000
Interest on notes receivable
4,300
Dividends received from investments
2,700
Purchase of inventory
(189,000
)
Payment of operating expenses
(62,000
)
Payment of interest on notes payable
(8,300
)
Net cash flows from operating activities
$
115,700
Cash flows...
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