Chapter 2, Problem 2.2DMP

MBA Company had the following income statement in 2019: depreciation OMR20000, net income OMR90000.The The following accounts increased during 2019: Accounts receivable OMR22000, Account payableOMR3400, inventoriesOMR46000.Cash from operating activities is:

Please explain how you get the journal entries below.   The DeVille Company reported pretax accounting income on its income statement as follows:          2021 $ 355,000   2022   275,000   2023   345,000   2024   385,000     Included in the income of 2021 was an installment sale of property in the amount of $30,000. However, for tax purposes, DeVille reported the income in the year cash was collected. Cash collected on the installment sale was $12,000 in 2022, $15,000 in 2023, and $3,000 in 2024.Included in the 2023 income was $10,000 interest from investments in municipal governmental bonds.The enacted tax rate for 2021 and 2022 was 40%, but during 2022, new tax legislation was passed reducing the tax rate to 25% for the years 2023 and beyond.Required:Prepare the year-end journal entries to record income taxes for the years 2021–2024. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Land, originally purchased for $27,468, is sold for $76,089 in cash. What is the effect of the sale on the accounting equation?

Kaila Company's financial statements show a net income of $567,000 in 2019. The following items also appear on Kaila's balance sheet: Depreciation expense $120,000 Accounts receivable decrease 36,000 Inventory increase 84,000 Accounts payable increase 24,000 Using the indirect method, what is Tu's net cash flow from operating activities in 2019?

A summary of cash flows for Conching Printing for the year ended May 31, 2020, is shown below.   Cash receipts:                           Cash received from fees earned        P 1,500,000.00                           Additional investment of owner               75,000.00 Cash payments:                        Cash paid for expenses                           1,215,000.00                        Cash paid for equipment                           240,000.00                         Cash paid to owner for personal use        66,000.00                            Determine the net cash flows from operating activities.

Pina colada company , a sole proprietorship, had following information for 2023: Cash balance , january 1 is $ 20,000 Accounts recivable, january 1 is $ 16,000 Collection from customer during year Is $ 196,000 capital account balance january 1 is $ 41,000 total assets , january 1 is $ 59,000 Cash investment by sole proprietor, july 1 is $ 5,000 Total assets , December 31 is $ 97,000 Cash balance , December 31 is $ 18,000 Accounts recivable, December 31 is $ 37,000 Merchaindise taken for personal use is $ 11,000 total liabilities , December 31 is $ 45,000 please write income statment and net income 2023

The HEYBM CORPORATION presented the following in order to aid the accountant in preparing the CFS: (December 2020)  Required: Prepare a Statement of Cash Flow  (how should be the Statement of Cash Flow look like) a.Net income: P200,000 b.Depreciation expense : P 25,000 c.Gain on sale of property and equipment: (P100,000) d.Decrease in trade and other receivables: P 70,000 e.Purchase of property and equipment: P200,000 f.Payment of loan from bank: P150,000 g.Ending Cash balance is 700,000.00 h.Beginning Cash is 855,00.00 Required: Prepare a Statement of Cash Flow

Dear Bartleby, could you please assist with the follow statement of cash flows? The financial statements of Pouchie Co. included the following information for the year ended December 31, 2019 (amounts in millions): Depreciation and amortization expense    $    130     Cash dividends declared and paid         165     Purchase of equipment         410     Net income         192     Beginning cash balance         60     Proceeds of common stock issued         74     Proceeds from sale of building (at book value)         106     Accounts receivable increase         8     Ending cash balance         20     Inventory decrease         19     Accounts payable increase         22      Required: Complete the following statement of cash flows, using the indirect method. (Amounts to be deducted should be indicated by a minus sign. Enter your answers in millions. (i.e., 5,000,000 should be entered as 5))

Presented below are a number of balance sheet items for Montoya, Inc., for 2019. Unsecured notes payable (long term) 16,00,000 Accumulated depreciation-Equipment $ 292,000 Payroll taxes payable 177,591 Inventory 239,800 Bonds payable 300,000 Rent payable (short-term) 45,000 Discount on bonds payable 15,000 Income tax payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock$1 par value 200,000 Notes receivable 445,700 Preferred stock $10 par value 150,000 Notes payable (to banks) 265,000 Prepaid expenses 87,920 Accounts payable 490,000 Equipment 14,70,000 Retained earnings 713,897 Equity Investment (trading-cost) 111,000 Income tax receivable 97,630 Accumulated depreciation-Building 270,200 Goodwill 125,000 Building 16,40,000 Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Fair value of equity investments (trading) is…