How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash outflow, put a negative (-) sign before the numerical figure. A. December 31, 2020 B. December 31, 2021
Q: Prepare the net cash provided by operating activities section of the company's statement of cash…
A: Meaning of Cash from Operating Activities Cash from operating activities is a part of Cash Flow…
Q: Use the Financial statement and addition) information shown to (1) Prefare Cash Flows For the year…
A: Cash flow statement is the form of financial statement being prepared at the year end to record the…
Q: Following is a statement of cash flows (indirect method) for Hartford Inc. for the year ended…
A: Cash flow statement means the statement which shows the cash inflow and outflow by dividing it in…
Q: Required: Prepare Statement of Cash Flow for Gangsa Perak Sdn Bhd for the ended 31 December 2019.
A: A cash flow statement provides a report related to cash inflow and cash outflow from operating,…
Q: How much should be reported as cash and cash equivalents as of December 31, 2022?
A: Cash and Cash Equivalent It is important for the business entity to maintain the cash and cash…
Q: Prepare a statement of cash flows using the indirect method for the year ending June 30, 2019
A: Cash flow statement It is one of the important financial reporting system in the entity which…
Q: In a cash flow statement, which one of the following would appear as an outflow of cash? Select…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: based on the enclosed images, what is the correct amount that must be disclosed as increase…
A: Introduction Cash flow from operating activity In indirect method of preparing cash flow statement…
Q: 3. Using the indirect method of cash flow statement, what is the net cash provided by financing…
A: 3. Calculate the amount of dividends of for the year 2020 (Div2020) by deducting the retained…
Q: Use the following information from 8irch Company's balance sheets: Dec. 31, 2018 Dec. 31, 2017…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: How much was the cash collected during 2020 resulting from sales in 2019 and 2020? * P 1,009,800 P…
A: Solution: Cash collected during 2020 resulting from sales in 2019 and 2020 = Beginning accounts…
Q: Vhat amount of cash should Hechter Co. report on its December 31, 2020 statement of financio…
A: Solution:- Introduction:- Cash and Cash equivalents includes bills, checks received but not…
Q: Given the following excerpt from the Statement of Cash Flows under Operating Activities, how much of…
A: Cash flow statement is the statement prepared along with financial statements as its part, shows the…
Q: If the cash balance on 31/12/2019 was $ 10000, while on 31/12/2020 the net cash flow from operating…
A: Cash Flow Statement:- It is a statement in which cash inflow or outflow balance from all three…
Q: What adjustment(s) should be made to reconcile net income to net cash flows from operating…
A: Using the indirect method, the changes in net working capital accounts needs to be adjusted to net…
Q: compute for the cash and cash equivalent that would be reported on the December 31, 2016 balance…
A: As per our protocol we provide solution to the one question only but you have asked two questions…
Q: Prepare Marine Ltd.’s Statement of Cash Flows for the year ended 31 March 2021.
A: There are two ways to treat bank overdraft in cash flow statement :- Treat it as financing…
Q: Instructions a. Prepare a statement of cash flows for the year 2020 for Aero. b. Prepare the…
A: Cash flow statement is a part of financial statement that shows the flows of cash into and out of…
Q: Mahal Mo Co. reported revenue of P3,100,000 in its accrual basis income statement for the year ended…
A: To calculate sales under cash basis from sales under accrual basis we will prepare account…
Q: Prepare a statement of cash flows (direct method) for the year 2018. Use the minus sign to indicate…
A: Statement of cash flows: The statement of cash flows records all the sources and use of the cash in…
Q: based on the images, what is the correct amount that must be disclosed as increase (decrease) in…
A: Under the Indirect method of computing cash flows from operations, only the net change I.e. increase…
Q: Prepare the FIRST (Operating) and the SECOND (Investing) sections of the statement of cash flows for…
A: A statement of cash flow is an important financial statement that must be prepared at the end of the…
Q: Comparative Statement of Financial Position Accounts As of December 31, 2019 and 2018 Dec 31, 2019
A: Cash Flow Statement: Cash flow statement show the cash comes in or goes out during the specified…
Q: Prepare the statement of cash flows of Dux Company for the year ended December 31, 2021. Present…
A: Cash flow statement The purpose of preparing the cash flow statement is to know the net cash inflows…
Q: Which of the following statements is CORRECT? Statement 1. Time lines can be constructed in…
A: Cash flow diagrams are graphic representations of revenue and expenses across time. A borrower and a…
Q: Instruction Prepare a formal Statement of Cash Flows tor the year ended December 31, 2021, n…
A: Net cash surplus (deficit) 5500 Cash, January 2021 1800 Ending cash balance 7300
Q: How do you calculate a statement of Cash Flows using the below details: Maple Group Ltd Comparative…
A: Statement of Cash Flows: Statement of Cash Flow is one of the main four financial statements,…
Q: Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at…
A: Cash flows from operating activities: Cash flows from operating activities is a section of cash flow…
Q: ts for Morston, Inc., have assembled the following data for the year ended December 31, 2024: (Click…
A: The cash flow statement is prepared to record the cash flow from various activities including…
Q: A company reported the following information: 2020 2019 Accounts receivable $50,000 $65,000…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: Pickering Company's prepaid insurance was $10,500 at December 31, 2020, and $14,500 at December 31,…
A: The cash paid towards insurance account can be calculated from the prepaid insurance account…
Q: Nalmart As Reported Annual Balance Sheet Report Date Scale Assets Cash & cash equivalents…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: Cash flow The following table provides a summary of the Consolidated Cash Flow Statement contained…
A: Cash flows from operating activities can be calculated from two methods are as follow: Direct…
Q: a) Prepare a statement of cash flows using the direct method for the year ended 31 December 2020.
A: A cash flow statement is the part of the financial statement which is prepared by the company to…
Q: Given the financial data for New Electronic World, Inc. (NEW), compute the following measures of…
A: 1) Operating Cash Flows Particulars P EBIT 30000 Less: Interest expense 3000 EBT 27000…
Q: Given the financial data for New Electronic World, Inc. (NEW), compute the following measures of…
A: Free cash flow of a company helps a business organization in understanding and ascertaining the…
Q: What amount should be reported as Cash on December 31, 2017?
A: Cash equivalents refers to those short-term investment of the company which are easily converted…
Q: (a) Prepare the statement of cash flows for Trinh's Nail Supplies for the year ended 30 June 2020,…
A:
Q: Prepare the Cash Flow Statement with the notes for Cheetahs Ltd for the year ended 31 December 2021.
A: Cash flows statement is one of the financial statement of the business which shows all cash inflows…
Q: How would you prepare a statement of Cash Flows using the following information? Maple Group Ltd…
A: Cash Flow Statement under indirect method using available information is prepared below
Q: Davie classified investments with original maturities of three months or less as cash equivalents.…
A: Cash and cash equivalents are the most liquid current assets found on a business's balance sheet.…
Q: Record in fset with adjustments What are Skaife's Total Assets , liabilities and net income to be…
A: Financial statement indicates the financial performance and position of the company in the market…
Q: Use the following information from Birch Company’s balance sheets to determine net cash flows from…
A: Cash Flow Statement:- This statement shows the cash inflow or outflow movement during the period of…
Q: From the following information on the income statement and the balance sheet, what is free cash flow…
A: Free Cash Flow: Following the payment of operational costs and capital expenditures, free cash flow…
Q: Other information: a. All sales are credit sales. b. All credits to accounts receivable in the…
A: The question is based on the concept of Cash flow statement. Cash flow statement is the statement…
Q: Prepare a Statement of Cash Flows for The Dr. J Co. for the period ending December 31, 2021
A: Given in the question: Account 2021 2020 Cash $5,68,000 $80,000 Accounts…
Q: Study the statement of cash flows of Mustang Limited given below and answer the following questions:…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…
Q: What adjustment(s) should be made to reconcile net income to net cash flows from operating…
A: For reconciling the net income with net cash flow from operating activities , we must use the…
How much net cash did the entity receive (give) with regards to the premium transactions for the year
given below? (if net
A. December 31, 2020
B. December 31, 2021
Step by step
Solved in 2 steps
- GameDay sells recreational vehicles along with secure parking storage to customers. Game Day sells the FB7 model for 62,000, and this price includes one year of secure parking storage. GameDay also sell secure parking storage separately for 8,000 per year, and customers can purchase the FB7 model without secure parking storage for 60,000. If a customer purchases the FB7 model with secure parking storage, how should GameDay allocate the transaction price?Lean principles Bright Night, Inc., manufactures light bulbs. Its purchasing policy requires that the purchasing agents place each quarters purchasing requirements out for bid. This is because the Purchasing Department is evaluated solely by its ability to get the lowest purchase prices. The lowest bidder receives the order for the next quarter (90 working days). To make its bulb products, Bright Night requires 36,000 pounds of glass per quarter. Bright Night received two glass bids for the third quarter, as follows: Central Glass Company: 30.00 per pound of glass. Delivery schedule: 36,000 (400 lbs. x 90 days) pounds at the beginning of July to last for 3 months. Ithaca Glass Company: 30.20 per pound of glass. Delivery schedule: 400 pounds per working day (90 days in the quarter). Bright Night accepted Central Glass Companys bid because it was the low-cost bid. Instructions 1. Comment on Bright Nights purchasing policy. 2. What are the additional (hidden) costs, beyond price, of Central Glass Companys bid? Why werent these costs considered? 3. Considering only inventory financing costs, what is the additional cost per pound of Central Glass Companys bid if the annual cost of money is 8%? (Hint: Determine the average value of glass inventory held for the quarter and multiply by the quarterly interest charge, then divide by the number of pounds.)Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20 times if the customer pays $700 in advance. Required: Prepare the journal entry to record (1) the customers' prepayment of S700 and (2) Brands mowing of the lawn one time.
- Cinnamon Depot bakes and sells cinnamon rolls for $1.75 each. The cost of producing 500,000 rolls in the prior year was: At the start of the current year, Cinnamon Depot received a special order for 18,000 rolls to be sold for $1.50 per roll. The company estimates it will incur an additional $1,000 in total fixed costs in order to lease a special machine that forms the rolls in the shape of a heart per the customers request. This order will not affect any of its other operations. Should the company accept the special order? (Show your work.)A towel is offered as a premium to customers who send in 10box tops of facial soap returned and a remittance of ₱25. Distribution cost is ₱10 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided thefollowing information: 2020 2021Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000Number of box tops returned 22,500 38,550Requirements:4. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash…
- JIN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the premium transactions for the year given below? (if net cash outflow,…Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: How much net cash did the entity receive (give) with regards to the premium transactions for the year 2019 and 2020?Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED: Compute for the premium liability for the year ended December 31, 2019 and 2020.
- Topsy Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and a remittance of ₱20. Distribution cost is ₱5 per towel. The entityestimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2019 2020 Facial Soap sales, P45 per unit 2,400,000 php 2,785,000 php Towel purchases, P70 per unit 320,500 php 355,000 php Number of box tops returned 20,500 php 34,850 php REQUIRED:Compute for the premiums expense for the year ended December 31, 2019 and 2020.Please show your solution in good accounting form. Thank you! JINN Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…Please show the solution in good accounting form. Thank you! Dominic Corporation started a promotional program. A towel is offered as a premium to customers who send in 10 box tops of facial soap returned and remittance of ₱25. The distribution cost is ₱10 per towel. The entity estimated that only 60% of the box tops reaching the market will be redeemed. The entity provided the following information: 2020 2021 Facial soap sales, ₱50 per unit ₱ 2,500,000 ₱ 2,875,000 Towel purchases, ₱90 per unit ₱ 337,500 ₱ 360,000 Number of box tops returned 22,500 38,550 Requirements: 1. Compute for the premiums (as an asset) amount for the year ended:A. December 31, 2020B. December 31, 2021 2. Compute for the premiums expense for the year ended:A. December 31, 2020B. December 31, 2021 3. Compute for the premium liability for the year ended:A. December 31, 2020B. December 31, 2021 4. How much net cash did the entity receive (give) with regards to the…