Financial Accounting (12th Edition) (What's New in Accounting)
12th Edition
ISBN: 9780134725987
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 11, Problem 11.13S
To determine
To prepare: The operating activities section of Statement of
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
courses/
The cash balance of Saadah Company is 32700 OMR at
the beginning of the year. The cash flows during the
year are given as follows;
Operating cash inflow: 37800
Financing cash inflow: 22300
Investing outflow: 29000
Which of the following is the cash balance at the end
of the year.
Select one:
O a. 64000
Ob. 121800
Oc. 68300
O d. 63800
Clear my choice
ccClassify each cash transaction between Operating (O), Investing (I), or Financing (F) activities using the following data:
__Cash at the beginning of the year: $650,000
Cash Receipts from:
__Bank (Interest on CD) $6,000
__Customers Sales $872,000
__Interest $33,000
__Dividends $3,600
Cash payments for:
__Dividends $2,500
__Raw Materials $ 3,800
__Wages Expense $4,000
__Land $10,000
__Interest $4,000
rect method.
Carlson Software Corp. has assembled the following data for the years ending December 31,
P12-60A (Learning Objectives 2, 3: Prepare the statement of cash flows-indirect method)
2016 and 2015
3. Prepal
cash flows from opl
4
5
6
7
8
$
10
11
12
13
Current Accounts:
Current assets:
Cash and cash equivalents
Accounts receivable
Inventories
Prepaid expenses
Current liabilities:
Accounts payable
Income tax payable
Accrued liabilities
Transaction Data for 2016:
Acquisition of land by issuing
long-term note payable.....
Stock dividends
Collection of loan.
Depreciation expense.
Purchase of building
with cash.
Retirement of honds payable
by issuing common stock....
Purchase of long-term
investment with cash........
$202,000
34,900
12,400
19,000
159,000
80,000
45,300
31, 2016 Format
December 31,
2016
$ 105,800
18,000
8,600
2,900
equipment
Amortization expense
$ 9,300
28,600
15,000
Purchase of treasury stock.
Loss on sale of equipment......
Payment of cash dividends
Issuance of…
Chapter 11 Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
Ch. 11 - Quick Check (Answers are given here) The statement...Ch. 11 - Prob. 2QCCh. 11 - Prob. 3QCCh. 11 - Which of the three types of activities reported on...Ch. 11 - Prob. 5QCCh. 11 - On the statement of cash flows, which of the...Ch. 11 - On the statement of cash flows, which of the...Ch. 11 - Prob. 8QCCh. 11 - Prob. 9QCCh. 11 - Which of the following transactions does not...
Ch. 11 - If the indirect method is used to calculate net...Ch. 11 - In 2018, Jubilee Company repurchased its own stock...Ch. 11 - Prob. 13QCCh. 11 - Prob. 14QCCh. 11 - Prob. 11.1ECCh. 11 - LO 1 (Learning Objective 1: Explain the purposes...Ch. 11 - Prob. 11.2SCh. 11 - Prob. 11.3SCh. 11 - Prob. 11.4SCh. 11 - (Learning Objective 2: Distinguish among...Ch. 11 - Prob. 11.6SCh. 11 - (Learning Objective 3: Prepare a statement of cash...Ch. 11 - Prob. 11.8SCh. 11 - (Learning Objective 3: Calculate financing cash...Ch. 11 - Prob. 11.10SCh. 11 - (Learning Objective 4: Calculate operating cash...Ch. 11 - Prob. 11.12SCh. 11 - Prob. 11.13SCh. 11 - Prob. 11.14SCh. 11 - Prob. 11.15AECh. 11 - (Learning Objectives 2, 3: Distinguish among...Ch. 11 - Prob. 11.17AECh. 11 - Prob. 11.18AECh. 11 - Prob. 11.19AECh. 11 - Prob. 11.20AECh. 11 - Prob. 11.21AECh. 11 - Prob. 11.22AECh. 11 - Prob. 11.23AECh. 11 - (Learning Objective 4: Prepare the statement of...Ch. 11 - Prob. 11.25AECh. 11 - Prob. 11.26BECh. 11 - (Learning Objectives 2, 3: Distinguish among...Ch. 11 - Prob. 11.28BECh. 11 - Prob. 11.29BECh. 11 - Prob. 11.30BECh. 11 - Prob. 11.31BECh. 11 - Prob. 11.32BECh. 11 - Prob. 11.33BECh. 11 - Prob. 11.34BECh. 11 - Prob. 11.35BECh. 11 - Prob. 11.36BECh. 11 - Prob. 11.37QCh. 11 - Prob. 11.38QCh. 11 - Prob. 11.39QCh. 11 - Prob. 11.40QCh. 11 - Prob. 11.41QCh. 11 - Prob. 11.42QCh. 11 - Prob. 11.43QCh. 11 - Prob. 11.44QCh. 11 - Prob. 11.45QCh. 11 - Prob. 11.46QCh. 11 - Prob. 11.47QCh. 11 - Prob. 11.48QCh. 11 - Prob. 11.49QCh. 11 - Prob. 11.50QCh. 11 - The book value of equipment sold during 2018 was...Ch. 11 - Prob. 11.52QCh. 11 - Prob. 11.53QCh. 11 - Prob. 11.54QCh. 11 - Prob. 11.55QCh. 11 - Prob. 11.56QCh. 11 - Prob. 11.57APCh. 11 - Prob. 11.58APCh. 11 - (Learning Objectives 2, 3: Prepare the statement...Ch. 11 - Prob. 11.60APCh. 11 - Prob. 11.61APCh. 11 - Prob. 11.62APCh. 11 - Prob. 11.63APCh. 11 - (Learning Objectives 2, 3, 4: Prepare the...Ch. 11 - Prob. 11.65APCh. 11 - Prob. 11.66BPCh. 11 - (Learning Objectives 2, 4: Prepare an income...Ch. 11 - (Learning Objectives 2, 3: Prepare the statement...Ch. 11 - Prob. 11.69BPCh. 11 - Prob. 11.70BPCh. 11 - Prob. 11.71BPCh. 11 - Prob. 11.72BPCh. 11 - Prob. 11.73BPCh. 11 - Prob. 11.74BPCh. 11 - Prob. 11.75CEPCh. 11 - Prob. 11.76CEPCh. 11 - Prob. 11.77CEPCh. 11 - Prob. 11.78SCCh. 11 - Prob. 11.79DCCh. 11 - Prob. 11.80DCCh. 11 - Ethical Issues Georgetown Motors is having a bad...Ch. 11 - Prob. 1FFCh. 11 - Prob. 1FA
Knowledge Booster
Similar questions
- The cash balance of GMC Company is 32700 $ at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow:37800 Investing outflow: 29000 Financing cash inflow: 22300 Which of the following is the cash balance at the end of the year.Select one: a. 63800b. 64000 C. 68300d. 121800arrow_forwardWrite a cash flow for this income statement Genuises School Income Statement For year ended June 30,2025 Profits & Loss Yearly Total Revenues Tuition Fees (Books+Resources+Uniform) Fees 829,500 OMR 693,000 OMR 136,000 OMR Less cost of Revenues Website & software Science Lab resources Library resources IT Lab Resources Offices Furniture IB License 400,000 OMR Gross Profit 429,000 OMR Less Expenses Salaries 184,800 OMR Advertising & marketing 1000 OMR Utilities(Electricity,Water,Internet service &Telephone Bill) 2400 OMR Loan Payments 12,000 OMR Rent expense+accamodation 60,000 OMR Repair & Maintenance 500 OMR Stationary & Printing 500 OMR Petrol 960 OMR Software 1000 OMR Insurance 4800 OMR Total expenses 267,000OMR Net Profit (Net Income) 162,000 OMRarrow_forwardClassify each cash transaction between Operating (O), Investing (I), or Financing (F) activities using the following data: __Cash at the beginning of the year: $650,000 Cash Receipts from: __Bank (Interest on CD) $6,000 __Customers Sales $872,000 __Interest $33,000 __Dividends $3,600 Cash payments for: __Dividends $2,500 __Raw Materials $ 3,800 __Wages Expense $4,000 __Land $10,000 __Interest $4,000arrow_forward
- From the following information prepare a statement of cash flows on the indirect method for Wishful Thinking College, a not-for-profit college, for the year ended 12/31/21. Make sure you include all required disclosures. · Increase in net assets $1,000,000 · Increase in cash 855,000 · Increase in Investment Income Receivable 8,000 · Increase in student receivables 32,000 · Decrease in supplies inventory 5,000 · Increase in accounts payable 100,000 · Decrease in deferred tuition revenue 20,000 Included in the change in net assets were the following items: · Cash gifts for scholarships $100,000 · Cash gifts for equipment acquisition 10,000 · Cash gifts for permanent endowment 500,000 · Gift of land 300,000 · Reclassifications of temporarily restricted amounts 80,000 · Donated services of retired professor teaching 2 online classes per term…arrow_forwardDirection: Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019. Talent Fees receivables from clients 500,000 Cash receipt from clients 600,000 . Depreciation expense 40,000 Proceeds of Japan bank loan 350,000 Cash purchase of building 800,000 Provision for doubtful accounts 28,000 Additional Investment of Lena 900,000 Dividends income received 23,000 Rent Income received 32,000 Payment of operating expenses 975,000 Principal long-term loan paid 600,000 Asset withdrawal of owner 125,000 Proceeds from sale of land 950,000arrow_forward(Learning Objectives 1, 7: Show how to speed up cash flow from receivables;evaluate liquidity through ratios) Norfolk Co., Inc., an electronics and appliance chain,reported these figures in millions of dollars:Net sales .........................................Receivables at end of year...............2019$398,5003,8602018$418,5004,110Requirements1. Compute Norfolk’s days’ sales in receivables or days’ sales outstanding (DSO) during 2019.(For this exercise, use “net sales” for “net credit sales” when calculating ratios.)2. Is Norfolk’s DSO long or short? Nico Networks takes 39 days to collect its average levelof receivables. Divencenzo, the overnight shipper, takes 33 days. What causes Norfolk’scollection period to be so different?arrow_forward
- |0N C Mc Graw Hill M Mim IN CQ X 77°F Raining now 07 of 12 Concepts completed Multiple Select Question https://learning.mheducation.com/static/awd/index.html?_t=1662829861804#/ In Reports cash disbursements Select all that apply Which of the following statements regarding the statement of cash flows are correct? The financial statement that is typically prepared first The final financial statement that is typically prepared Reports cash receipts D It is an optional financial statement Read About the Concept V G|DC|PD| M C va Rate your confidence to submit your answer. Need help? Review these concept resources. Medium O Low Ⓒ2022 McGraw Hill. All Rights Reserved. f6 ta f7 D h e Privacy | Terr 0 hp 18arrow_forwardAt a rate of 5.5%, what is the present value of the following cash flow stream? Years 1. 2 3 Cash Flows $0 $750 $600 $500 $400 Show your work in Excel and highlight your answer to this question. Your excel file will be submitted at the end of the exam.arrow_forward(Learning Objectives 1, 7: Show how to speed up cash flow from receivables;evaluate liquidity through ratios) Geneva Co., Inc., an electronics and appliance chain,reported these figures in millions of dollars:Net sales .........................................Receivables at end of year...............2019$523,1253,8602018$543,1254,510Requirements1. Compute Geneva’s days’ sales in receivables or days’ sales outstanding (DSO) during2019. (For this exercise, use “net sales” for “net credit sales” when calculating ratios.)2. Is Geneva’s DSO long or short? Kurzwel Networks takes 39 days to collect its averagelevel of receivables. Domarko Freight, the overnight shipper, takes 33 days. What causesGeneva’s collection period to be so different?arrow_forward
- The cash balance of Muscat Company is 28000 OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow: 41000 Financing cash outflow: 24000 Investing inflow: 19000 Which of the following is the cash balance at the end of the year. Select one: O a. 74000 O b. 64000 O c. 102000 O d. 52000arrow_forwardFor each separate case, compute the required cash flow information for BioClean. Case A: Compute cash interest received Interest revenue $5,000 Interest receivable, beginning of year 600 Interest receivable, end of year . 1,700 Case B: Compute cash paid for wages Wages expense $9,000 Wages payable, beginning of year . . . . . . . 2,200 Wages payable, end of year . . . . . . . 1,000arrow_forwardThe cash balance of Saadah Company is 32700 OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow: 37800 Financing cash inflow: 22300 Investing outflow: 29000 Which of the following is the cash balance at the end of the year. Select one: O a. 64000 b. 121800 O c. 68300 O d. 63800arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Excel Applications for Accounting PrinciplesAccountingISBN:9781111581565Author:Gaylord N. SmithPublisher:Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Cengage Learning