Cash Flow Statement To compute:C ash flow statement, operating activities using indirect method.

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Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

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Preparing the direct method statement of cash flows Red Toy Company reported the following comparative balance sheet: Requirements Compute the collections from customers during 2018 for Red Toy Company. Sales Revenue totaled $134,000. Compute the payments for inventory during 2018. Cost of Goods Sold was $79,000.

Preparing the Statement of Cash Flows: Indirect Method E8A. Keeper Corporation's income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended June 30, 2014 Sales Cost of goods sold Gross margin Operating expenses Operating income Interest expense Income before income taxes Income taxes expense Net income Assets Keeper Corporation Comparative Balance Sheets June 30, 2014 and 2013 Cash Accounts receivable (net) Inventory Prepaid expenses Furniture Accumulated depreciation-furniture Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Notes payable (long-term) Common stock, $10 par value Retained earnings Total liabilities and stockholders' equity 2014 $ 69,900 21,000 43,400 3,200 55,000 (9,000) $183,500 $ 13,000 1,200 37,000 115,000 17,300 $183,500 $234,000 156,000 $ 78,000 45,000 $ 33,000 2,800 $ 30,200 12,300 $ 17,900 2013 $ 12,500 26,000…

Prepare a complete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign. Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. GOLDEN CORPORATION Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 178,000 $ 122,400 Accounts receivable 104,000 85,000 Inventory 622,000 540,000 Total current assets 904,000 747,400 Equipment 372,700 313,000 Accumulated depreciation—Equipment (165,000) (111,000) Total assets $ 1,111,700 $ 949,400 Liabilities and Equity…

Answer 2

Question

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Expert Solution & Answer

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Answer 3

Question

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Expert Solution & Answer

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Answer 5

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Answer 6

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

Answer 7

Chapter 12, Problem 3PSA

1.

Summary Introduction

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

Answer 8

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Answer 9

b

Summary Introduction

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

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

Cash Flow Statement To compute:C ash flow statement, operating activities using indirect method.

Solution Summary: The author analyzes the cash flow statement, which shows the inflow and outflow of cash in the business organization.

Concept explainers

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.

Want to see the full answer?

Chapter 12 Solutions

Cash Flow Statement To compute:C ash flow statement, operating activities using indirect method.

Solution Summary: The author analyzes the cash flow statement, which shows the inflow and outflow of cash in the business organization.

Concept explainers

Cash Flow Statement To compute:Cash flow statement, operating activities using indirect method.

Cash Flow Statement Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization. To determine:Analyze the cash flow statement.

Want to see the full answer?

Chapter 12 Solutions

Cash Flow Statement

To compute:Cash flow statement, operating activities using indirect method.

Cash Flow Statement

Cash Flow statement refer as a statement which shows the inflow and outflow of cash in the business organization.

To determine:Analyze the cash flow statement.