Question
In: Accounting
The following information is available from the current period financial statements:
7. The following information is available from the current period financial statements:
Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable $175,000 28,000 16,000 21,000
The net cash flow from operating activities using the indirect method is
a. $166,000
b. $184,000
c. $110,000
d. $240,000
8. A building with a book value of $54,000 is sold for $63,000 cash Using the indirect method, this transaction should be shown on the statement of cash flows as follows:
a. an increase of $54,000 from investing activities
b. an increase of $63,000 from investing activities and a deduction from net income of $9,000
c. an increase of $9,000 from investing activities
d. an increase of $54,000 from investing activities and an addition to net income of $9,000 --
Solutions
ekkarill92 answered 2 years agoRelated Solutions
The following information is available from the current period financial statements: Net income $ 140,777 Depreciation...
The following
information is available from the current period financial
statements:
Net income
$ 140,777
Depreciation expense
$37,106
Increase in accounts receivable
$15,470
Decrease in accounts payable
$23,634
The net cash flow from
operating activities using the indirect method is
The following information is available from the current period financial statements: Net income $165,000 Depreciation expense...
The following information is available from the current period
financial statements:
Net income
$165,000
Depreciation expense
28,000
Increase in accounts receivable
16,000
Decrease in accounts payable
21,000
The net cash flow from operating activities using the indirect
method is
$188,000
$198,000
$156,000
$230,000
The following information is available from the current period financial statements: Net income $131,943 Depreciation expense...
The following information is available from the current period
financial statements:
Net income
$131,943
Depreciation expense
21,983
Increase in accounts receivable
14,002
Decrease in accounts payable
21,679
The net cash flow from operating activities using the indirect
method is
The following financial information was extracted from MCL’s current draft financial statements and those of the...
The following financial information was extracted from MCL’s
current draft financial statements and those of the previous
year:
2017 ($M)
2016 ($M)
2015 ($M)
Revenue
220
260
240
Total assets
260
280
250
Net Profit before tax
19
(3)
17
The car parts and accessories industry has been very competitive
and consumer demand appears to be slowing in anticipation of change
with electric and driverless cars coming into the market. The
company has recently restructured its operations to outsource its...
The following information is available from the audited financial statements of Molson Coors Brewing Company and...
The following information is available from the
audited financial statements of Molson Coors Brewing Company and
Big Rock Breweries Income Trust for their recent year ends.
Molson/Coors
(in millions of US dollars) Big Rock Breweries
(in thousands of Cdn dollars)
Net Sales $ 5,844 $ 38,701
Profit $ 373 $ 8,380
Total assets, ending $ 11,603 $ 42,170
Total assets, beginning $ 11,799 $ 41,786
Instructions:
a) Calculate both companies' asset turnover and return
on assets ratios.
b) Compare the...
The following financial statements and information are available for Gibson Industries Inc.
The following financial statements and information are available for Gibson Industries Inc.
Balance Sheets
As of December 31
Year 3
Year 2
Assets
Cash
$
161,500
$
121,600
Accounts receivable
104,400
85,900
Inventory
187,400
173,000
Marketable securities (available for sale)
290,100
221,100
Equipment
667,600
...
Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct...
Carmelita Inc. has the following information available:
Costs from Beginning Inventory
Costs from Current Period
Direct materials
$4,800
$28,900
Conversion costs
6,600
150,900
At the beginning of the period, there were 600 units in process
that were 42% complete as to conversion costs and 100% complete as
to direct materials costs. During the period, 4,600 units were
started and completed. Ending inventory contained 400 units that
were 30% complete as to conversion costs and 100% complete as to
materials costs....
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct...
Carmelita Inc., has the following information available:
Costs from
Beginning Inventory
Costs from
Current Period
Direct materials
$4,100
$26,400
Conversion costs
6,000
156,900
At the beginning of the period, there were 500 units in process
that were 44% complete as to conversion costs and 100% complete as
to direct materials costs. During the period, 5,200 units were
started and completed. Ending inventory contained 400 units that
were 33% complete as to conversion costs and 100% complete as to
materials costs....
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct...
Carmelita Inc., has the following information available:
Costs from Beginning Inventory Costs from Current Period
Direct materials $4,400 $21,700
Conversion costs 6,600 153,600
At the beginning of the period, there were 500 units in process
that were 41% complete as to conversion costs and 100% complete as
to direct materials costs. During the period, 5,300 units were
started and completed. Ending inventory contained 400 units that
were 33% complete as to conversion costs and 100% complete as to
materials costs....
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct...
Carmelita Inc., has the following information available: Costs from
Beginning Inventory Costs from current Period Direct materials
$4,400 $20,800 Conversion costs 6,100 153,900 At the beginning of
the period, there were 600 units in process that were 41% complete
as to conversion costs and 100% complete as to direct materials
costs. During the period, 4,900 units were started and completed.
Ending inventory contained 400 units that were 31% complete as to
conversion costs and 100% complete as to materials costs....
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