MANAGERIAL ACCOUNTING FUND. W/CONNECT
5th Edition
ISBN: 9781259688713
Author: Wild
Publisher: MCG
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Chapter 12, Problem 12QS
To determine
Concept introduction:
Cash Flow statement:
The Cash flow statement shows the movement of cash during a particular period. The
- Cash flows from operating activities
- Cash Flows from investing activities
- Cash flows from financing activities
(Note: Cash flows from operating activities can be prepared using direct or indirect method)
To calculate:
The
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Fixed assets. Use the data from the following financial statements in the popup window, E- What are the net fixed assets for the years 2016 and 2017?
The net fixed assets for the year 2016 is $
(Round to the nearest dollar.)
Data Table
(Click on the following icon e in order to copy its contents into a spreadsheet.)
Partial Income Statement Year Ending 2017
Sales revenue
$350,000
Cost of goods sold
$140,000
Fixed costs
$43,000
Selling, general, and administrative expenses
$28,000
Depreciation
$46,000|
(Click on the following icon in order to copy its contents into a spreadsheet.)
Partial Balance Sheet 12/31/2016
ASSETS
LIABILITIES
$14,000|
$16,000 Notes payable
$28,000 Accounts payable
Cash
Accounts receivable
$19,000
Inventories
$48,000 Long-term debt
$190,000
Fixed assets
$368,000 OWNERS' EQUITY
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Determine the amount of net cash flow for o'hare for 2017 if the sales revenue was 82,300, the depreciation expense was 14,300, and the net income was 68,000
Additional information provided:
• Equipment costing $52,000 was purchased for cash.
• Equipment with a net asset value of $10,000 was sold for $14,000
• Depreciation expense of $12,000 was recorded during the year.
• During 2014, the company repaid $40,000 of long-term notes payable.
• During 2014, the company borrowed $34,000 on a new note payable
Based on the info provided which of the following is the correct narrative and ending balance in the investing activities section of the company’s statement of cash flows:
a.
Net cash provided by investing activities $38,000
b.
Net Cash used for investing activities ($38,000)
c.
Net cash provided by investing activities $66,000
d.
Net Cash used for investing activities ($66,000)
Chapter 12 Solutions
MANAGERIAL ACCOUNTING FUND. W/CONNECT
Ch. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 1DQCh. 12 - Prob. 2DQCh. 12 - Prob. 3DQCh. 12 - Prob. 4DQCh. 12 - Prob. 5DQ
Ch. 12 - Prob. 6DQCh. 12 - Prob. 7DQCh. 12 - Prob. 8DQCh. 12 - Prob. 9DQCh. 12 - Prob. 10DQCh. 12 - Prob. 11DQCh. 12 - Prob. 12DQCh. 12 - Prob. 13DQCh. 12 - Prob. 14DQCh. 12 - Prob. 15DQCh. 12 - Prob. 1QSCh. 12 - Prob. 2QSCh. 12 - Prob. 3QSCh. 12 - Prob. 4QSCh. 12 - The following information is necessary to answer...Ch. 12 - Refer to the balance sheet data above from Anders...Ch. 12 - Prob. 7QSCh. 12 - Prob. 8QSCh. 12 - Prob. 9QSCh. 12 - Prob. 10QSCh. 12 - Use the following balance sheet and income...Ch. 12 - Prob. 12QSCh. 12 - Prob. 13QSCh. 12 - Prob. 14QSCh. 12 - Prob. 15QSCh. 12 - Prob. 16QSCh. 12 - Prob. 17QSCh. 12 - Prob. 18QSCh. 12 - Prob. 19QSCh. 12 - Prob. 20QSCh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - The following financial statements and additional...Ch. 12 - Prob. 12ECh. 12 - Complete the following spreadsheet in preparation...Ch. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - The following summarized Cash T-account reflects...Ch. 12 - Prob. 1PSACh. 12 - Refer to the information in problem 12-1A....Ch. 12 - Forten Company, a merchandiser, recently completed...Ch. 12 - Prob. 4PSACh. 12 - Refer to Forten Companys financial statements and...Ch. 12 - Golden Corp., a merchandiser, recently completed...Ch. 12 - Prob. 7PSACh. 12 - Prob. 8PSACh. 12 - Prob. 1PSBCh. 12 - Prob. 2PSBCh. 12 - Prob. 3PSBCh. 12 - Prob. 4PSBCh. 12 - Prob. 5PSBCh. 12 - Prob. 6PSBCh. 12 - Prob. 7PSBCh. 12 - Prob. 8PSBCh. 12 - Prob. 12SPCh. 12 - Prob. 1GLPCh. 12 - Prob. 3GLPCh. 12 - Prob. 1BTNCh. 12 - Prob. 2BTNCh. 12 - Prob. 3BTNCh. 12 - Prob. 4BTNCh. 12 - Prob. 5BTNCh. 12 - Prob. 6BTNCh. 12 - Prob. 7BTNCh. 12 - Prob. 8BTNCh. 12 - Prob. 10BTN
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