Black Ice, a fi ctitious sportswear manufacturer, reported other operating expenses of $30million. Prepaid insurance expense increased by $4 million, and accrued utilities payabledecreased by $7 million. Insurance and utilities are the only two components of otheroperating expenses. How much cash did the company pay in other operating expenses?A . $19 million.B . $33 million.C . $41 million.

Black Ice, a fi ctitious sportswear manufacturer, reported other operating expenses of $30million. Prepaid insurance expense increased by $4 million, and accrued utilities payabledecreased by $7 million. Insurance and utilities are the only two components of otheroperating expenses. How much cash did the company pay in other operating expenses?A . $19 million.B . $33 million.C . $41 million.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6PROB

See similar textbooks

Similar questions

Red Road Company, a consulting company, reported total revenues of $100 million, total expenses of $80 million, and net income of $20 million in the most recent year. If accounts receivable increased by $10 million, how much cash did the company receive from customers? B . $100 million
Red Road Company, a consulting company, reported total revenues of $100 million, total expenses of $80 million, and net income of $20 million in the most recent year. If accounts receivable increased by $10 million, how much cash did the company receive from customers? C . $110 million
The income statement of ABL shows other operating expenses of R30 million; prepaid insurance expense increased by R4 million; and accrued utilities payable decreased by R7 million. How much did the company pay in other operating expenses? Select one: a. R27 million b. R19 million c. R33 million d. R41 million
White Flag, a women’s clothing manufacturer, reported salaries expense of $20 million. Th e beginning balance of salaries payable was $3 million, and the ending balance of salaries payable was $1 million. How much cash did the company pay in salaries? A . $18 million.
White Flag, a women’s clothing manufacturer, reported salaries expense of $20 million. Th e beginning balance of salaries payable was $3 million, and the ending balance of salaries payable was $1 million. How much cash did the company pay in salaries? B . $21 million.
When a company buys equipment for $161,000 and pays for one half in cash and the other one half is financed by a note payable, which of the following are the effects on the accounting equation? a. Total assets increase $161,000 b. Total liabilities increase $161,000 c. Total liabilities decrease $80,500 d. Total assets increase $80,500
USA Inc. had gross sales of $925,000. The cost of goods sold and selling expenses were $490,00 and $220, 000 respectively. International also had notes payable with an interest of 4%. Depreciation was $120,000. The tax rate at the time was 21%. a. What is the company's net income? Show work and briefly discuss. b.What is the company's operating cash flow? Show work and briefly discuss.
Blue Bayou, a fi ctitious advertising company, reported revenues of $50 million, totalexpenses of $35 million, and net income of $15 million in the most recent year. Ifaccounts receivable decreased by $12 million, how much cash did the company receivefrom customers?A . $38 million.B . $50 million.C . $62 million.
Cellular Access, Inc. is a cellular telephone service provider that reported net income of $250 million for the most recent fiscal year. The firm had depreciation expenses of $128 million, capital expenditures of $162 million, and no interest expenses. Working capital increased by $14 million. Calculate the free cash flow for Cellular Access for the most recent fiscal year.
Cash flows during the first year of operations for the Harman-Kardon Consulting Company were as follows: Cash collected from customers, $375,000; Cash paid for rent, $47,000; Cash paid to employees for services rendered during the year, $127,000; Cash paid for utilities, $57,000. In addition, you determine that customers owed the company $67,000 at the end of the year, and no bad debts were anticipated. Also, the company owed the gas and electric company $2,700 at year-end, and the rent payment was for a two-year period. Calculate accrual net income for the year.
The total cash payments made by the business for the period amounted to ₱100,000 as follows: Purchase of equipment for business use ₱50,000 Salaries of the employee 25,000 Water and electricity used in business 10,000 Taxes and Licenses used in business 15,000 How much is the operating expense from these payments? how can it be 50,000?
During the year Ruby Sea Nautical Supplies collected $280,000 from customers, with payments to suppliers of $62,000. Cash paid to employees amounted to $55,000, and cash paid for interest was $14,600. Total assets at the end of the previous accounting period totalled $830,000, and for the current accounting period was $865,000. Total owners equity on the current year's balance sheet was $201,600. Calculate the cash return on total assets.