CONNECT F/ INTERMEDIATE ACCTING>I<
10th Edition
ISBN: 9781260951585
Author: SPICELAND
Publisher: MCG
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Chapter 21, Problem 21.11BE
To determine
Statement of
The amount Company SA should report as net cash from operating activities, if it is following the indirect method.
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P10.5 (LO 2, 3, 5), AP At December 31, 2022, Grand Company reported the following as plant assets.
Land $4,000,000Buildings $28,500,000 Less: Accumulated depreciation—buildings 12,100,000 16,400,000Equipment 48,000,000 Less: Accumulated depreciation—equipment 5,000,000 43,000,000Total plant assets $63,400,000During 2023, the following selected cash transactions occurred.
April 1 Purchased land for $2,130,000.May 1 Sold equipment that cost $750,000 when purchased on January 1, 2019. The equipment was sold for $450,000.June 1 Sold land purchased on June 1, 2013 for $1,500,000. The land cost $400,000.July 1 Purchased equipment for $2,500,000.Dec. 31 Retired equipment that cost $500,000 when purchased on December 31, 2013.
PB12. LO 16.5 The following shows excerpts from financial infomation relating to Stanwell Company and Thodes Company.
Stanwell
Thodes
Net cash flows operating activities
138,000
115,000
total assets
272,000
35,0000
net income
35,000
32,000
sales revenue
385,000
250,000
capital expenditures
28,000
60,000
dividend payments
17,000
13,000
compute the following for both companies. compare your results.
A. free cash flow
B. Cash flows to sales ratio
C. Cash flows to assets ratio
Problem 11-4A Prepare a statement of cash flows—indirect method (LO11-2, 11-3, 11-4, 11-5)
The income statement, balance sheets, and additional information for Video Phones, Inc., are provided.
VIDEO PHONES, INC.
Income Statement
For the Year Ended December 31, 2021
Net sales
$
2,636,000
Expenses:
Cost of goods sold
$
1,600,000
Operating expenses
788,000
Depreciation expense
20,000
Loss on sale of land
7,300
Interest expense
11,500
Income tax expense
41,000
Total expenses
2,467,800
Net income
$
168,200
VIDEO PHONES, INC.
Balance Sheets
December 31
2021
2020
Assets
Current assets:
Cash
$
159,180
$
85,940
Accounts receivable
73,300
53,000
Inventory
105,000
128,000
Prepaid rent
9,120
4,560
Long-term assets:
Investments
98,000…
Chapter 21 Solutions
CONNECT F/ INTERMEDIATE ACCTING>I<
Ch. 21 - Effects of all cash flows affect the balances of...Ch. 21 - Prob. 21.2QCh. 21 - Prob. 21.3QCh. 21 - Prob. 21.4QCh. 21 - Prob. 21.5QCh. 21 - Prob. 21.6QCh. 21 - Prob. 21.7QCh. 21 - The sale of stock and the sale of bonds are...Ch. 21 - Does the statement of cash flows report only...Ch. 21 - Prob. 21.10Q
Ch. 21 - Perhaps the most noteworthy item reported on an...Ch. 21 - Prob. 21.12QCh. 21 - Given sales revenue of 200,000, how can it be...Ch. 21 - Prob. 21.14QCh. 21 - When determining the amount of cash paid for...Ch. 21 - Prob. 21.16QCh. 21 - When using the indirect method of determining net...Ch. 21 - Prob. 21.18QCh. 21 - Prob. 21.19QCh. 21 - Where can we find authoritative guidance for the...Ch. 21 - U.S. GAAP designates cash outflows for interest...Ch. 21 - Prob. 21.1BECh. 21 - Prob. 21.2BECh. 21 - Prob. 21.3BECh. 21 - Prob. 21.4BECh. 21 - Investing activities LO215 Carter Containers sold...Ch. 21 - Financing activities LO216 Refer to the situation...Ch. 21 - Prob. 21.11BECh. 21 - Prob. 21.12BECh. 21 - Classification of cash flows LO213 through LO216...Ch. 21 - Indirect method; reconciliation of net income to...Ch. 21 - Prob. 21.29ECh. 21 - Prob. 21.30ECh. 21 - Prob. 21.31ECh. 21 - Prob. 21.32ECh. 21 - Prob. 21.1PCh. 21 - Research Case 219 FASB codification; locate and...Ch. 21 - IFRS Case 2110 Statement of cash flows...
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