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AccountingManagerial Accounting: The Cornerstone of Business Decision-Making7th Edition

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Chapter 14, Problem 47P
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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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Problem 46P
Problem 47P
Problem 48P
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Problem 50P
Problem 51P
Problem 52P
Problem 53P
Problem 54P
Problem 55P
Problem 56P
Problem 57P
Problem 58C
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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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The following financial statements were provided by Roberts Company:

Chapter 14, Problem 47P, The following financial statements were provided by Roberts Company: At the end of 20X2, Roberts , example 1

Chapter 14, Problem 47P, The following financial statements were provided by Roberts Company: At the end of 20X2, Roberts , example 2

At the end of 20X2, Roberts purchased some additional equipment for $20,000.

Required:

Calculate operating cash flows using the direct method.

To determine

Chart the net operating cash flows using the direct method.

Explanation

Cash Flows from Operating Activities:

This category of a cash flow statement shows the operational and profit generating activities in a firm. The operating cash flows increase or decrease the current assets and current liabilities of a firm.

The cash flows from operating activities for R Company for 20X2 using direct method are shown below:

R Company
Statement of Cash Flow
For the year ended September 30, 20X2
ParticularsIncome statement ($)Adjustments ($)Cash flows ($)
Cash flows from operating activities:   
Revenues40,000(2,000)138,000
Cost of goods sold(28,800)(2,800)2-
  (1,600)3(27,600)
Wages expenses(4,000)4004(4,400)
Advertising(2,000) (2,000)
Depreciation expense(6,000)6,0005-
        Net cash from operating activities  4,000

Table (1)

Therefore, the net cash from operating activities is $4,000.

Working Note:

1.

Calculation of difference in accounts receivable:

(Difference inAccounts Receivable)=(Amount of Accounts Receivable of 20X2−Amount of Accounts Receivable of 20X1)=($9,600−$7,600)=$2,000

2.

Calculation of difference in amount of inventories:

(Difference inInventories)=(Amount of Inventories of 20X2−Amount of Inventories of 20X1)=($18,000−$20,800)=−$2,800

3

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Ch-14 P-1DQCh-14 P-2DQCh-14 P-3DQCh-14 P-4DQCh-14 P-5DQCh-14 P-6DQCh-14 P-7DQCh-14 P-8DQCh-14 P-9DQCh-14 P-10DQ
Ch-14 P-11DQCh-14 P-12DQCh-14 P-13DQCh-14 P-14DQCh-14 P-1MCQCh-14 P-2MCQCh-14 P-3MCQCh-14 P-4MCQCh-14 P-5MCQCh-14 P-6MCQCh-14 P-7MCQCh-14 P-8MCQCh-14 P-9MCQCh-14 P-10MCQCh-14 P-11MCQCh-14 P-12MCQCh-14 P-13MCQCh-14 P-14MCQCh-14 P-15MCQCh-14 P-16MCQCh-14 P-17BEACh-14 P-18BEACh-14 P-19BEACh-14 P-20BEACh-14 P-21BEACh-14 P-22BEACh-14 P-23BEACh-14 P-24BEACh-14 P-25BEBCh-14 P-26BEBCh-14 P-27BEBCh-14 P-28BEBCh-14 P-29BEBCh-14 P-30BEBCh-14 P-31BEBCh-14 P-32BEBCh-14 P-33ECh-14 P-34ECh-14 P-35ECh-14 P-36ECh-14 P-37ECh-14 P-38ECh-14 P-39ECh-14 P-40ECh-14 P-41ECh-14 P-42ECh-14 P-43ECh-14 P-44PCh-14 P-45PCh-14 P-46PCh-14 P-47PCh-14 P-48PCh-14 P-49PCh-14 P-50PCh-14 P-51PCh-14 P-52PCh-14 P-53PCh-14 P-54PCh-14 P-55PCh-14 P-56PCh-14 P-57PCh-14 P-58C

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