The independent cases are listed below includes all balance sheet accounts related to operating activitiesNet incomeDepreciation expenseAccounts receivable increase (decrease) 114,000 (207,000 (27,000)Inventory increase (decrease)Accounts payable increase (decrease)Accrued liabilities increase (decrease)Case C$317,000 18,500 $427,00087,000Case A47,000(57,000)Case B157,00042,00057,00077,000(57,000) 127,00067,000 (227,000 (47,000)Show the operating activities section of cash flows for each of the given cases. (Amounts to be deducted should be indicated with aminus sign.)Case ACase BCase CNet IncomeAdjustments to Reconcile Net Income to NetCash Provided by Operating ActivitiesDepreciationChanges in Assets and LiabilitiesAccounts ReceivableInventoryAccounts PayableAccrued LiabilitiesNet Cash Provided by Operating Activities

Introduction:Cash Flow means the flow of cash in the business. it could be inflow of cash or it…

Answered: The independent cases are listed below…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 14PB: Assuming a companys year-end inventory were understated by $16,000, indicate the effect...

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Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.
The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. Comment on the results of your horizontal analysis in part (a). c. Based upon Exercise 2-23, compare and comment on the operating results of Target and Costco for the recent year.
Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $119.70 on December 31, 20Y8 Instructions Return on total assets
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Assuming a companys year-end inventory were understated by $16,000, indicate the effect (overstated/understated/no effect) of the error on the following balance sheet and income statement accounts. A. Income Statement: Cost of Goods Sold B. Income Statement: Net Income C. Balance Sheet: Assets D. Balance Sheet: Liabilities E. Balance Sheet: Equity
Portions of the financial statements for Horizon Telecom are provided below. HORIZON TELECOMIncome StatementFor the Year Ended December 31, 2021 Revenues $618,000 Expenses: Cost of goods sold $366,000 Operating expenses 114,000 Depreciation expense 34,000 Income tax expense 52,000 Total expenses 566,000 Net Income $52,000 HORIZON TELECOMSelected Balance Sheet DataDecember 31, 2021 Increase in accounts receivable $ 5,100 Increase in inventory 12,900 Decrease in prepaid rent 10,100 Increase in operating expenses payable 6,800 Decrease in accounts payable 6,400 Increase in income tax payable 20,100 Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.) HORIZON TELECOM Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating…

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