explain how a ledger provides the information needed to prepare an operating statement

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ekkarill92 answered 1 year ago

explain how the ledger provides the information needed to prepare the operating statement?

How to and an example: 1. Prepare Operating activities for the statement of cash flow using...

How to and an example: 1. Prepare Operating activities for the statement of cash flow using indirect method

Given the following information, prepare a statement of cash flows. Cashflow from operating activities: Investment Activities...

Given the following information, prepare a statement of cash flows. Cashflow from operating activities: Investment Activities DATA Increase in accounts receivable 30 Increase in inventories 30 Operating Income 95 Interest Expense 30 Increase in accounts payable 25 Dividends 15 Increase in common stock 20 Increase in net fixed assets 23 Depreciation Expense 12 Income taxes 17 Beginning cash 20 Assume all amounts are in 000's

Required information An analysis of Abbey Company's operating segments provides the following information: Operating Segment Revenues...

Required information An analysis of Abbey Company's operating segments provides the following information: Operating Segment Revenues Segment Profit (Loss) Segment Assets External Intersegment A $ 30 $ 27 $ 6 $ 40 B 45 0 32 120 C 36 0 (7 ) 82 D 200 116 4 190 E 44 0 (72 ) 38 Refer to the above information. Which of the operating segments above are reportable segments? Multiple Choice B, C, and D A, B, D, and E B,...

Use this information to prepare a partial Statement of Cash Flows for Somerset Company. Prepare only the section related to Cash Flows from Operating Activities.

The following information is related to Somerset Company's fiscal year 2018. Income Statement: Net Income $4,000,000 Depreciation Expense 650,000 Gain on Sale of Plant Assets 50,000 Interest Expense 5,000 Balance Sheet - 12/31/17: Increase (Decrease) Accounts Receivable ($45,000) Plant Assets - Purchased 250,000 Plant Assets - Disposals (100,000) Additional Information: Common Stock exchanged for outstanding Long Term Notes Payable of $150,000 Dividends paid were $35,000Use this information to prepare a partial Statement of Cash Flows for Somerset Company. Prepare only the section related to Cash Flows from Operating Activities.Partial Statement of Cash Flows:Somerset CompanyStatement...

PROBLEM II Using the following information from Char Company. Prepare an income statement through operating income...

PROBLEM II Using the following information from Char Company. Prepare an income statement through operating income for the year. Sales? $ 900,000 Finished goods inventory beginning? 45,000 Cost of goods manufactured? 585,000 Finished goods inventory ending? 60,000 Operating expenses? 275,000

This week, we learned how to prepare a statement of cash flows from information on the...

This week, we learned how to prepare a statement of cash flows from information on the balance sheet and income statement. If this is possible, why are managers required to provide a statement of cash flows? Also, how is the statement of cash flows linked to each of the other financial statements (income statement and balance sheet). How are the other financial statements linked with each other? A company president remarked, “The operations of our company are such that we...

Prepare an accounting journal, general ledger, trial balance,multiple step income statement and owner's equity statement for...

Prepare an accounting journal, general ledger, trial balance,multiple step income statement and owner's equity statement for the following. APR-1 the JW-Corp Received $200,000 in Exchange for 40,000 shares of Common Stock. APR-1 the JW-Corp Borrowed $150,000 from US-Bank on a Note, Due in 5 Years with 8% Interest Paid Monthly. APR-2 the JW-Corp Purchased a Building for $360,000 (25 year life), with $60,000 Cash Down Payment and signed a Note with SCHWAB BANK for the Remainder Due in 10...

3.1 REQUIRED Use the information provided below to prepare the Bank account in the ledger of...

3.1 REQUIRED Use the information provided below to prepare the Bank account in the ledger of Prince Stores showing all the entries that would have been made in the cash journals. Clearly show the contra account for each entry. Balance the account. The cash journals are not required. Use the following format: General ledger DR BANK CR 2020 Jan 31 2020 Jan 31 INFORMATION When comparing the bank statement with the cash journals of Prince Stores for January 2020 the...

Use Problems 10-15 and 10-16 to prepare an activity statement (operating statement), a comparative statement of...

Use Problems 10-15 and 10-16 to prepare an activity statement (operating statement), a comparative statement of financial position (balance sheet), and a statement of cash flows (using the indirect method). What do you learn from these statements, and what questions do they raise? Problem 10-15: The American Research Council for Humanities (ARCH) had the following financial events during the current year: 1. January 12. Received a $300,000 payment from a pledge made last year. 2. February 4. Placed an order...

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