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
Concept explainers
Question
Chapter 11, Problem 11.6S
To determine
To prepare: The operating activities section of E’s Statement of Cash flow using indirect method for the year ended June 30, 2018.
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
(Learning Objectives 1, 7: Show how to speed up cash flow from receivables;evaluate liquidity using ratios) The comparative financial statements of Diamond Pools, Inc.,for 2020, 2019, and 2018 included the following select data:Balance sheetCurrent assets:Cash...............................................Investment in trading securities......Receivables, net of allowancefor uncollectible accounts of $7,$6, and $4, respectivelyInventories .....................................Prepaid expenses............................Total current assets........................Total current liabilities.......................Income statementNet sales (all on account)...................(In millions)2020$ 9015027034050$ 900$ 550$7,7002019$ 9518028035540$ 950$ 640$5,3552018$ 6011523032535$ 765$ 650$4,745Requirements1. Compute the following ratios for 2020 and 2019:a. Current ratiob. Quick (acid-test) ratioc. Days’ sales outstanding2. Which ratios improved from 2019 to 2020 and which ratios deteriorated?…
A corporation reported cash of $28,800, total assets of $470,0O00, and current llabilities of $161090 on its balance sheet tts common-ios pescers fon casih equsis
Multiple Choice
6.13%.
61.30%.
16.32%.
1632.00%.
100.00%.
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
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Cash Flow Ratios Tracy Company reports the following amounts in its annual financial statements 31,000* Capital expenditures. (000 0 Average current assets. $90,000 Cash flow from operating activities. Cash flow from investing activities Cash flow from financing activities. 80,000 Average current liabilities Total assets P3000 (10,000) 000 0 Net income 000 000 * This amount is a cash outflow. Compute Tracy's free cash flow. a. Compute Tracy's operating-cash-flow-to-current-liabilities ratio. b. Compute Tracy's operating-cash-flow-to-capital-expenditures ratio. C.arrow_forwardrect 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…arrow_forwardccClassify 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
- 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_forwardThe following selected information pertains to Brock Company:Cash balance, January 1, 20x1 P130,000Accounts receivable, January 1, 20x1 190,000Collections from customers in 20x1 2,100,000Capital account balance, January 1, 20x1 380,000Total assets, January 1, 20x1 750,000Additional cash investment, July 1, 20x1 50,000Total assets, December 31, 20x1 1,010,000Cash balance, December 31, 20x1 200,000Accounts receivable, December 31, 20x1 360,000Withdrawals made during 20x1 110,000Total liabilities, December 31, 20x1 410,0007. Net income for the year ended December 31, 20x1arrow_forwardMazaya Company has the following information available Net Income RO 55.000, Cash Provided by Operations RO 68,200; Cash Sales R.O 143.000, Capital Expenditures RO.24.200; Dividends Paid RO. 6.600. What is Mazaya's free cash flow? Select one O a. RO61,600 O bRO 37.40o O CRO44,000arrow_forward
- TO Culate net o check if Assets equal Liabilities I cdn.student.uae.examus.n ACCT101_FEX_2021_2_Male Purpose of the Statenment of Cash Flows: 9 క్క 18 a. To calculate net income 95abe18 e18c o check if Assets equal Liabilities b. 95abe18 С. To calculate Assets turnover 95abe18ce33 d. To know where a company spends its cash abe18ce33 95a18ce33 95abe18ce33 95abe18ce33 95abe18ce33 95abe18ce33 MacBook Pro 80 F3 000 95abe1 F4 FS 48 F6 E F7 6 & DII 7 V T F9 8A 99 Cor R. IIarrow_forwardA corporation reported cash of $25,200, total assets of $452,000, and total equity of $154,905 on its balance sheet. Its common- size percent for cash equals: Multiple Choice 17.94%. 55.80%. 100.00%. 6:35 PM 3/28/2022arrow_forwardThe following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?arrow_forward
- The cash balance of Lalana Company is 434000OMR at the beginning of the year. The cash flows during the year are given as follows; Operating cash inflow:38490 Financing cash outflow: 22430 Investing inflow: 95800 Which of the following is the cash balance at the end of the year. Select one: a. 468890 b. 465760 C. 554520 d. 545860arrow_forwardP5-13 Statement of Cash Flows The following are Mueller Company’s cash flow activities: a. Net income, $68,000b. Increase in accounts receivable, $4,400c. Receipt from sale of common stock, $12,300.d. Depreciation expense, $11,300 e. Dividends paid, $24,500 f. Payment for purchase of building, $65,000g. Bond discount amortization, $2,700 h. Receipt from sale of long-term invest-ments at cost, $10,600i. Payment for purchase of equipment, $8,000.j. Receipt from sale of preferred stock, $20,000k. Increase in income taxes payable, $3,500 l. Payment for purchase of land, $9,700 m. Decrease in accounts payable, $2,900n. Increase in inventories, $10,300 o. Beginning cash balance, $18,000 Required: Prepare Mueller Company’s statement of cash flows.arrow_forwardCash Flow RatiosSpencer Company reports the following amounts in its annual financial statements: Cash flow from operating activities $90,000 Capital expenditures $59,500* Cash flow from investing activities (68,000) Average current assets 136,000 Cash flow from financing activities (8,500) Average current liabilities 102,000 Net income 42,500 Total assets 255,000 * This amount is a cash outflowa. Compute Spencer's free cash flow.b. Compute Spencer's operating-cash-flow-to-current-liabilities ratio.c. Compute Spencer's operating-cash-flow-to-capital-expenditures ratio. Round ratios to two decimal points. a. Free cash flow Answer b. Operating-cash-flow-to-current-liabilities ratio Answer c. Operating-cash-flow-to-current-expenditures ratio Answerarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Cornerstones of Financial AccountingAccountingISBN:9781337690881Author:Jay Rich, Jeff JonesPublisher:Cengage LearningFinancial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning
The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License