NEW MyLab Accounting with Pearson eText -- Access Card -- for Managerial Accounting
4th Edition
ISBN: 9780133451481
Author: Karen W. Braun, Wendy M. Tietz
Publisher: PEARSON
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Question
Chapter 13, Problem 13.40SC
1.
To determine
To identify: The activity which has generated the most cash for the company.
2.
To determine
To explain: The way to report the renovation expenditures in the statement of cash flows.
3.
To determine
To explain: The way to report the interest, on the renovation cost, in the statement of cash flows.
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P11-77. (Learning Objectives 2, 3: Prepare a balance sheet from a statement of cash flows)The December 31, 2017, balance sheet and the 2018 statement of cash flows for McFarlandCorporation follow:
Requirement1. Prepare the December 31, 2018, balance sheet for McFarland.
Direction: Study the given data below and compute for (1) the cash generated/used in financing activities, (2) the net change in cash for the year, and (3) prepare the CFS for the year.
Learning is Fun Company has presented the following in order to aid the account in preparing CFS during the month.
Net income: P200, 000
Depreciation expense: P25, 000
Gain on sale on property and equipment: P100. 000
Decrease in trade and other receivables: P 70, 000
Purchase of property and equipment: P200, 000
Payment of loan from bank: P150, 000
Compute for the cash generated/used in financing activities.
Based on the given above, compute for the net change in cash for the year.
(Learning Objectives 1, 7: Show how to speed up cash flow from receivables;evaluate liquidity through ratios) Geneva Co., Inc., an electronics and appliance chain,reported these figures in millions of dollars:Net sales .........................................Receivables at end of year...............2019$523,1253,8602018$543,1254,510Requirements1. Compute Geneva’s days’ sales in receivables or days’ sales outstanding (DSO) during2019. (For this exercise, use “net sales” for “net credit sales” when calculating ratios.)2. Is Geneva’s DSO long or short? Kurzwel Networks takes 39 days to collect its averagelevel of receivables. Domarko Freight, the overnight shipper, takes 33 days. What causesGeneva’s collection period to be so different?
Chapter 13 Solutions
NEW MyLab Accounting with Pearson eText -- Access Card -- for Managerial Accounting
Ch. 13 - (Learning Objective 1) Which of the following is...Ch. 13 - Prob. 2QCCh. 13 - Prob. 3QCCh. 13 - Prob. 4QCCh. 13 - Prob. 5QCCh. 13 - Prob. 6QCCh. 13 - Prob. 7QCCh. 13 - Prob. 8QCCh. 13 - Prob. 9QCCh. 13 - (Learning Objective 3) Which one of the following...
Ch. 13 - Prob. 13.1SECh. 13 - Prob. 13.2SECh. 13 - Prob. 13.3SECh. 13 - Prob. 13.4SECh. 13 - Prob. 13.5SECh. 13 - Calculate financing cash flows (Learning...Ch. 13 - Prob. 13.7SECh. 13 - Prob. 13.8SECh. 13 - Prob. 13.9SECh. 13 - Prob. 13.10SECh. 13 - Prob. 13.11SECh. 13 - Prob. 13.12AECh. 13 - Prob. 13.13AECh. 13 - Prob. 13.14AECh. 13 - Calculate operating cash flows (indirect method)...Ch. 13 - Prob. 13.16AECh. 13 - Prob. 13.17AECh. 13 - Prob. 13.18AECh. 13 - Prob. 13.19AECh. 13 - Prob. 13.20AECh. 13 - Classify sustainable activities effect on cash...Ch. 13 - Prob. 13.22BECh. 13 - Prob. 13.23BECh. 13 - Prob. 13.24BECh. 13 - Calculate operating cash flows (indirect method)...Ch. 13 - Prob. 13.26BECh. 13 - Prob. 13.27BECh. 13 - Prob. 13.28BECh. 13 - Prob. 13.29BECh. 13 - Prob. 13.30BECh. 13 - Classify sustainable activities effect on cash...Ch. 13 - Prob. 13.32APCh. 13 - Prepare statement of cash flows (indirect method)...Ch. 13 - Prob. 13.34APCh. 13 - Prob. 13.35APCh. 13 - Prob. 13.36BPCh. 13 - Prepare statement of cash flows (indirect method)...Ch. 13 - Prob. 13.38BPCh. 13 - Prob. 13.39BPCh. 13 - Prob. 13.40SCCh. 13 - Discussion Analysis A13-41 Discussion Questions...Ch. 13 - Prob. 13.42ACTCh. 13 - Ethics involved with statement of cash flows...Ch. 13 - Prob. 13.44ACTCh. 13 - Prob. 13.45ACT
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Similar questions
- (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?…arrow_forwardS1-9. (Learning Objective 4: Identify appropriate financial statement) Suppose you areanalyzing the financial statements of Corley, Inc. Identify each item with its appropriatefinancial statement, using the following abbreviations: Income statement (I), Statement ofretained earnings (R), Balance sheet (B), and Statement of cash flows (C). Three items appearon two financial statements, and one item shows up on three statements.a. Salary expenseb. Dividendsc. Accounts payabled. Net incomee. Common stockf. Inventoryg. Interest revenueh. Cashi. Retained earningsj. Long-term debtk. Increase or decrease in cashl. Net cash provided by operatingactivitiesm. Sales revenuen. Net cash used for financingactivitiesarrow_forward
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