Question 4: XYZ Co. had the following information in 2020: Sales 150000 COGS 80000 Operating expenses (excluding depreciation) Interest expense 32000 8000 Taxes 3000 Increase in Accounts receivable Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 7000 4000 5000 3500 2000 1000 Prepare operating cash flows using direct method.
Q: Question 4: XYZ Co. had the following information in 2020: Sales…
A: SOLUTION- DIRECT METHOD OF CASH FLOW- IT IS ONE OF TWO ACCOUNTING TREATMENT USED TO GENERATE A CASH…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 15000 Net income 110000…
A: Deprecation = 15000 Net income =110000 OMR Decreased during 2020: Accounts receivable = 24000…
Q: Assume that during 2020, Cypress Semiconductor Corporation reported net cash provided by operating…
A: Free cash flow:Free cash flow describes the net cash provided from operating activities after making…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 15000 Net income 95000…
A: Net income = 95000 Depreciation = 15000 Decrease in Accounts receivable = 18000 Decrease in…
Q: ABC Co. had the following activities in 2020: OMR 55000 Issue of common stock Increase in…
A: A cash flow statement is a financial statement that shows all the cash outflows and cash inflows.
Q: According to the information given in the table below, which of the following is cash flow from…
A: Information Net income 101,000 Deprecation 35,000 Decrease in Accounts…
Q: Marigold Corporation reported net income of $49,400 in 2020. Depreciation expense was $16,700. The…
A: Cash from operating activities means the amount of cash flows from the routine business activities.
Q: Sohar Co. had the following information in 2020: Sales COGS Operating expenses (including…
A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…
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: If the statement of cash flows shows the following, what is cash from operating activities? Profit…
A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…
Q: Grouper Company has not yet prepared a statement of cash flows for the 2020 fiscal year. Comparative…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Poh Inc., corporation, has the following pertinent information happened during year 2022 P 1,570,000…
A: Statement of Cash Flows using indirect method:
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Bonita Corporation had the following 2020 income statement. Sales revenue $198,000 Cost of goods…
A: Cash flow statement: It is a statement which reports the cash inflows and outflows of a business…
Q: Question 4: Sohar Co. had the following information in 2020: Sales 180000 80000 32000 4200 9000 COGS…
A: Cash Flows statement is a financial statement that shows the management of cash flows by the company…
Q: Question 4: XYZ Co. had the following information in 2020: Sales 150000 COGS 80000 Operating…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: For questions 21-22, refer to the Income Statement below. What is the operating cash flow for 2020?…
A: The operating cash flow of the company can be calculated by subtracting operational expenses from…
Q: Depreciation OMR 12000 Net Profit OMR 148000 The following accounts decreased during 2020: Accounts…
A: Any changes in machinery account is part of cash flow from investing activities. So it is not…
Q: According to the information given in the table below, which of the following is cash flow from…
A: Cash Flow Statement The purpose of preparing the cash flow statement is to know the total cash…
Q: Question 3: Dhofar Co. had the following information in 2020: Issuance of common stock 34000 Payment…
A: The cash flow statement is prepared to estimate the net cash inflow or outflow from the business…
Q: Sohar Co. had the following information in 2020: Sales 180000 COGS 80000 Operating expenses…
A: Activities under the Cash flow statement are: Cash flow from operating activities Cash flow from…
Q: Use the following income statement and balance sheet information to put together a statement of cash…
A: The cash flow statement is one of the important financial statements of the business, which keeps…
Q: Cost of goods sold 41000 Interest expense 139000 Income tax expense 76000 Operating profit 454000…
A: Free cash flow (FCF) is the cash a firm earns after deducting cash expenses to sustain operations…
Q: Marigold Corporation reported net income of $49,400 in 2020. Depreciation expense was $16,700. The…
A: Marigold Corporation Cash Flow Statement (Indirect Method) For the year ended December 31, 2020…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 150000…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: Prepare the cash flows from operating activities section of Sarasota’s 2020 statement of cash flows…
A: 1. Increase in Accounts Receivables of $13000 will be subtracted from Cash Flow from Operating…
Q: Kensington Company, an SME, reported net income of P500,000 in 2021. Gain on sale of equipment was…
A: Cash Flow from Operating Activities is the net cash inflow in the business only from its operating…
Q: Current Attempt in Progress During 2020 the Cullumber Company had a net income of $85200. In…
A:
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 150000…
A: Cash flows from operating activities is a section in Cash Flow Statement. It shows all cash inflows…
Q: Please help
A: Cash flow from operating actvities: Net Income $1600000 Adjustment to reconcile net income to…
Q: in millions) Cash flows from operiting activities (CFO Net mcome Adjustments to reconcile net income…
A: Cash inflows refer to the total value of cash a business is currently processing in its various…
Q: Question 3: KLM Co. had the following information in 2020: Issuance of common stock 32000 P
A: Answer : A cash flow statement may be a financial statement that summarizes the quantity money and…
Q: Sarasota Corporation had the following 2020 income statement. Sales revenue $183,000 Cost of…
A: The Statement of cash flow can be prepared under two methods. It is Direct Method and Indirect…
Q: According to the information given in the table below, which of the following is cash flow from…
A: The question is multiple choice question Required Choose the Correct Option.
Q: Carla Company has not yet prepared a statement of cash flows for the 2020 fiscal year. Comparative…
A: Solution Cash flow statement is a financial statement that provides aggregate data regarding all…
Q: Marigold Corporation reported net income of $49,400 in 2020. Depreciation expense was $16,700. The…
A: The cash flow statement represents the cash inflow and cash outflow due to the operating, financing,…
Q: In 2020, Windsor Corporation reported a net loss of $69,800. Windsor’s only net income adjustments…
A: The net cash provided by operating activities can be calculated with the help of indirect method of…
Q: Sheridan Company reported net income of $0.50 million in 2022. Depreciation for the year was…
A: Formulas:
Q: Question 4: XYZ Co. had the following information in 2020: Sales COGS 150000 80000 Operating…
A: The direct method is also called the Income statement method. Cash flow from Revenue - Cash…
Q: . had the following information in 2020: Sales 180000 COGS 80000 ast ... Operating expenses…
A: A cash flow statement is a financial statement that shows the amounts of cash and cash equivalents…
Q: Question 4: XYZ Co. had the following information in 2020: Sales COGS 150000 80000 Operating…
A: Cash flows from the business can be analyzed through activities like: Cash flows from operating…
Q: XYZ Co. had the following information in 2020: Sales 150000 COGS 80000 Operating expenses (excluding…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Calculate cash flows from operating activities Select one:
A: Answer: Cash flow from operating activites cosnsists of cash flows from a transaction that affects a…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital.
Q: The BCD Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 190000…
A: Cash flow statement: It is a financial statement that record the cash related transactions to…
Q: KLM Co. had the following information in 2020: Issuance of common stock 32000 15000 21000 Payment of…
A: The cash flow statement is prepared to find the net cash outflow and inflow in the business during…
Q: "Net cash flow from operating activities for 2020 for Jap Company was P300,000. The following items…
A: Net Income for 2020 = Net cash flow from operating activities - Depreciation and Amortization +…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 12000 Net income 85000…
A: Flow of cash from operating activities- It is flow of that amount of cash which is received and paid…
Step by step
Solved in 3 steps
- Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of goods sold 660.0 Gross profit 135.0 Selling expenses 73.5 EBITDA 61.5 Depreciation expenses 12.0 Earnings before interest and taxes (EBIT) 49.5 Interest expenses 4.5 Earnings before taxes (EBT) 45.0 Taxes (40%) 18.0 Net income 27.0 a. Calculate the ratios you think would be useful in this analysis. b. Construct a DuPont equation, and compare the companys ratios to the industry average ratios. c. Do the balance-sheet accounts or the income statement figures seem to be primarily responsible for the low profits? d. Which specific accounts seem to be most out of line relative to other firms in the industry? e. If the firm had a pronounced seasonal sales pattern or if it grew rapidly during the year, how might that affect the validity of your ratio analysis? How might you correct for such potential problems?LO.2 Oak Corporation has the following general business credit carryovers. If the general business credit generated by activities during 2019 equals 36,000 and the total credit allowed during the current year is 60,000 (based on tax liability), what amounts of the current general business credit and carryovers are utilized against the 2019 income tax liability? What is the amount of unused credit carried forward to 2020?Recording Various Liabilities Glenview Hardware had the following transactions that produced liabilities during 2020: a. Purchased merchandise on credit for $30,000. ( Note: Assume a periodic inventory system.) b. Year-end wages of $10,000 were incurred, but not paid. Related federal income taxes of $1,200, Social Security of $620 (employee portion), and Medicare taxes of $145 were with-held from employees. c. Year-end estimated income taxes payable, but unpaid, for the year were $42,850. d. Sold merchandise on account for $1,262, including state sales taxes of S48. ( Note: Assume a periodic inventory system.) e. Employers share of Social Security and Medicare taxes for the period were $620 and $145, respectively. f. Borrowed cash under a 90-day, 9%, $25,000 note. Required: Prepare the entry to record each of these transactions (treat each transaction independently).
- Unusual income statement items Assume that the amount of each of the following items is material to the financial statements. Classify each item as either normally recurring (NR) or unusual (U) items. If unusual item, then specify if it is a discontinued operations item (DO). a. Interest revenue on notes receivable. b. Gain on sale of segment of the company's operations that manufactures bottling equipment. c.Loss on sale of investments in stocks and bonds. d. Uncollectible accounts expense. e. Uninsured flood loss. (Hood insurance is unavailable because of periodic Hooding in the area.)Refer to RE22-2. Assume Heller Company had sales revenue of 510,000 in 2019 and 650,000 in 2020. Prepare Hellers partial income statements (through gross profit) for 2019 and 2020. RE22-2 Heller Company began operations in 2019 and used the LIFO method to compute its 300,000 cost of goods sold for that year. At the beginning of 2020, Heller changed to the FIFO method. Heller determined that its cost of goods sold under FIFO would have been 250,000 in 2019. For 2020, Hellers cost of goods sold under FIFO was 360,000, while it would have been 410,000 under LIFO. Heller is subject to a 21% income tax rate. Compute the cumulative effect of the retrospective adjustment on prior years income (net of taxes) that Heller would report on its retained earnings statement for 2020.Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
- Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…X Company collected P12350 in interest during 2019 X showed P1,850 in interest on its December 31, 2021 statement of financial position and P5,300 on December 31, 2020 How much is the Interest Revenue to be reported on X's statement of comprehensive income in 2021?
- Sandhill Co. reported the following information for 2020: Sales revenue $2520000 Cost of goods sold 1748000 Operating expenses 282000 Unrealized holding gain on available-for-sale securities 85700 Cash dividends received on the securities 9200 For 2020, Sandhill would report comprehensive income of A.$85700. B.$499200. C.$575700. D.$584900.Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,600 Cost of goods sold 7,810 Depreciation 470 Earnings before interest and taxes $ 1,320 Interest paid 106 Taxable income $ 1,214 Taxes 425 Net income $ 789 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 240 $ 270 Accounts payable $ 1,410 $ 1,410 Accounts receivable 1,020 920 Long-term debt 1,110 1,310 Inventory 1,840 1,710 Common stock 3,360 3,280 Total $ 3,100 $ 2,900 Retained earnings 650 900 Net fixed assets 3,430 4,000 Total assets $ 6,530 $ 6,900 Total liabilities & equity $ 6,530 $ 6,900 What is the quick ratio for 2022?1-What will be the total operating expense? a.41200 b.53200 c. 19700 d. 21500 2-What will be the net income? a. 56000 b. 338000 c. 16000 d. 72000 3-What will be the total Selling and distribution expense? a. 41200 b. 17200 c. 19700 d. 14800 4-What will be the Gross Profit at the end of the year December 2019 a. OMR 338,000 b. OMR 16000 c. OMR 336,000 d. OMR 56000 5-What is the Gross Margin in terms of Percentage? a. Cannot be determined b. 20.66 c. 16.66 d. 16.56