The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows. To calculate: the amount of cash paid to acquire inventory during the year 2018.

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Answer 1

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Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

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Choose the correct answer and pls provide the formula A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? *a. P1,175,000.00b. P1,275,000.00c. P1,375,000.00d. P1,475,000.00e. P1,575,000.00

8. Using the following excerpts from the Michigan Company’s financial statements and the list of terms that follow, please complete the worksheets below to determine cash paid to suppliers for inventory in 2018. From Balance Sheets: Dec. 31, 2018 Dec.31, 2017 Inventory $74,000 $82,000 Accounts Payable 55,000 58,000 From Income Statement: 2018 Cost of Goods Sold $520,000 Use these terms to complete the worksheets below: Beginning balance, Inventory Cash paid for inventory Ending balance, Inventory Ending balance, Accounts Payable Goods available to sell Beginning balance, Accounts Payable Inventory purchased Total obligation to pay…

The following information was taken from the 2021 financial statements of Crane Company: Inventory, January 1, 2021 $ 170000 Inventory, December 31, 2021 230000 Accounts payable, January 1, 2021 140000 Accounts payable, December 31, 2021 230000 Sales revenue 1100000 Cost of goods sold 790000 If the direct method is used in the 2021 statement of cash flows, what amount should Crane report as cash payments to suppliers?

Answer 2

Question

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

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Answer 3

Question

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

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Answer 4

Question

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

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Answer 5

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

Answer 6

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

Answer 7

Chapter 12, Problem 15QS

1.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid to acquire inventory during the year 2018.

Answer 8

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

Answer 9

2.

Summary Introduction

Concept Introduction:

The statement shows cash flows under three different types of business activities; operating activities, investing activities, and financing activities. The operating activities section of the statement can be prepared using the direct or indirect method. Under the direct method the cash inflow and outflow from different operating activities are presented in the form of the statement and net operating cash flow is calculated by summing up all the operating cash inflow and outflows.

To calculate:the amount of cash paid for other expense during the year 2018.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 12 - What is the reporting purpose of the statement of...Ch. 12 - Prob. 2DQ Ch. 12 - Prob. 3DQ Ch. 12 - Describe the direct method of reporting cash flows...Ch. 12 - Prob. 5DQ Ch. 12 - Prob. 6DQ Ch. 12 - Prob. 7DQ Ch. 12 - Prob. 8DQ Ch. 12 - Prob. 9DQ Ch. 12 - Prob. 10DQ

Solution Summary: The author explains that the statement shows cash flows under three different types of business activities, including operating, investing, and financing activities.

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