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Concept explainers
(1)
Introduction:
Cash flow statements are the statements that determines the inflow and outflow of cash from three major activities that are carried out in a business i.e. operating activities, investing activities and financing activities.
To state:
Apple’s cash flow statement is prepared under direct method or indirect method.
(2)
Introduction:
Cash flow statements are the statements that determines the inflow and outflow of cash from three major activities that are carried out in a business i.e. operating activities, investing activities and financing activities.
To state:
If the cash dividend paid is more or less than the cash provided by operating activities for the Fiscal year 2013, 2012 and 2011.
(3)
Introduction:
Cash flow statements are the statements that determines the inflow and outflow of cash from three major activities that are carried out in a business i.e. operating activities, investing activities and financing activities.
To state:
The largest amount in reconciling the difference between net income and cash flow from operating activities in fiscal year 2013, 2012 and 2011.
(4)
Introduction:
Cash flow statements are the statements that determines the inflow and outflow of cash from three major activities that are carried out in a business i.e. operating activities, investing activities and financing activities.
To identify:
The largest
(5)
Introduction:
Cash flow statements are the statements that determines the inflow and outflow of cash from three major activities that are carried out in a business i.e. operating activities, investing activities and financing activities.
To state:
What are Apple’s largest cash inflows and outflows from investing and financing on 28th September,2013.
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Chapter 12 Solutions
MANAGERIAL ACCOUNTING FUND. W/CONNECT
- Based on the short cases on Cash flow preparation, compute the following: 1. For the year ended December 31, 2016, the company has a cash balance of P23,000. The result of cash flow from operating activities is (P15,000), cash flow from investment activities is P8,500 while the cash flow from financing activities is P12,250. How much is the net changes in cash for 2017? How much is the cash balance as of December 2017? 2. For the year ended December 31, 2017, the company had an ending cash balance of P32,000. During the year, the company result of cash flow from investment activities is P7,500 while the cash flow from financing activities was P12,500. The cash balance as of December 31, 2016 is P10,300. How much is the cash flow generated from operating activities in 2018? 3. For the year ended December 31, 2017, the company had a cash balance of P25,000. Business transactions for 2018 resulted to a cash flow from operating activities of (P12,000), cash flow from investment activities…arrow_forwardStarrKnight Corporation's Balance Sheet and Income Statement as shown below: a) What is the operating cycle in 2016 for StarrKnight Corporation? b) What is StarrKnight Corporation's cash cycle for 2016?arrow_forwardPrepare a statement of cash flows and cash flow worksheet for Tater Tot Corporation for the year 2013. (Use the indirect method.).arrow_forward
- Q3. Cash flow statement complements the income statement and the balance sheet summarizing all cash inflows and outflow transactions in the company within the given financial year. However, there are two different methods of preparing the cash flow statement - direct and indirect. A) Enlist the differences between Direct and Indirect method of cash flow statement B) Let's consider the case of XYZ Ltd., a manufacturing company based in India. In the fiscal year 2022, XYZ Ltd. raised INR 50 crores by issuing new equity shares and INR 100 crores by taking on long-term debt. The company also repaid INR 80 crores in long-term debt and paid INR 30 crores in dividends to shareholders. Calculate the cash flows from financial activities for the company.arrow_forward1.Reconstruct the company’s comparative balance sheet for 2013/2014 using the information to compute and show the missing figures to include the appropriate sign as a positive or negative figure. 1b. Which category of the statement of cash flow is considered as the most important? Why? 1c. Do a complete statement of cash flows for 2014 using the INDIRECT METHOD using the information.arrow_forwardBelow are several transactions for Meyers Corporation for 2021.Required: 1. For each transaction, determine the amount of cash flows (indicate inflows with a “+” and outflows with a “−”). If cash is involved in the transaction, indicate whether Meyers should classify it as operating, investing, or financing in a statement of cash flows. Enter N/A if the question is not applicable to the statement. 2. Calculate net cash flows for the year. 3. Assuming the balance of cash on January 1, 2021, equals $5,400, calculate the balance of cash on December 31, 2021.arrow_forward
- Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities?arrow_forwardQs) Andrew Potter is comparing the cash- flow- generating ability of Microsoft with that of Apple Inc. He collects information from the companies’ annual reports and prepares the following table. Cash flow from Operating Activities as a Percentage of Total Net Revenue Microsoft Apple Inc. 2017(%) 2016(%) 2015(%) 43.9 39.1 31.7 27.7 30.5 34.8 Cash flow from Operating Activities as a Percentage of Average Total Assets Microsoft Apple Inc. 2017(%) 2016(%) 2015(%) 18.2 18.1 17.1 18.2 21.5 31.1 What is Potter likely to conclude about the relative cash- flow- generating ability of these two companies?arrow_forwardConsider the financial statements alongside the notes presented by Simple Things Industries and prepare the statement of cash flows for the year ended December 31, 2014. Assets Current: Cash Accounts Receivable Inventory Plant assets, net Total Assets Liabilities Current: Accounts payable Accrued liabilities Long-term notes payable Stockholders' Equity Common S tock Retained earnings Treasury stock Total liabilities and stockholders' equity Revenues and gains: Sales revenue Interest revenue Dividend revenue Gain on sale of plant assets Total revenues and gains Simple Things Industries Ltd. Comparative Balance Sheet December 31, 2014 and 2013 Expenses Cost of goods sold Salary and wages expense Depreciation expense Other operating expense Interest expense Income tax expense Total expenses Net Income/(Loss) Simple Things Industries Ltd Income Statement Year Ended December 31,2014 Notes Acquisition of plant asset during 2014 Sale proceeds from sale of plant asset Receipt for issuance of…arrow_forward
- 3. What is the amount debited to accumulated profits as a result of the 2016 cash dividend declaration? 4. What is the correct balance of the accumulated profits-unappropriated account as of December 31, 2016?arrow_forwardI need assistance with Question 1 and 3. Please show how you arrived with the answers. Requirements 1. Reconstruct the company’s comparative balance sheet for 2013/2014 and show the missing figures to include the appropriate sign as a positive or negative figure. 2. Which category of the statement of cash flow is considered as the most important? Why? 3. Prepare a complete statement of cash flows for 2014 using the indirect method using the information in line with your surname initial.arrow_forwardA complete set of financial statements for Hartman Company, at December 31, 2007, would include each of the following, EXCEPT: Income statement for the year ended December 31, 2007 or Statement of projected cash flows for 2008 or Notes containing additional information that is useful in interpreting the financial statements or Balance sheet as at December 31, 2007.arrow_forward
- Financial AccountingAccountingISBN:9781305088436Author:Carl Warren, Jim Reeve, Jonathan DuchacPublisher:Cengage LearningFinancial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
- College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
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