INTERMEDIATE ACCOUNTING
3rd Edition
ISBN: 9780136946694
Author: GORDON
Publisher: RENT PEARS
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Question
Chapter 22, Problem 22.2E
To determine
Cash flow from operating activities of HAP under indirect method as per IFRS format.
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Students have asked these similar questions
The 2022 accounting records of Sheridan Transport provide the following information.
Payment of interest
Cash sales
Receipt of dividend revenue
Payment of income taxes
Net income
Payment for merchandise
Payment for land
Collection of accounts receivable
Cash Flows from Operating Activities
Cash receipts from
Prepare the cash flows from operating activities section using the direct method.
Dividend Revenue
Less
V cash payments:
For Interest
For Income Taxes
To Suppliers for Merchandise
For Salaries and Wages
$10,800
50,900
19,000
For Operating Expenses
15,700
38,000
97,600
73,700
195,200
SHERIDAN Transport
Statement of Cash Flows-Direct Method
For the Year Ended December 31, 2022
Payment of salaries and wages
Depreciation expense
Proceeds from sale of vehicles
Purchase of equipment for cash
Loss on sale of vehicles
Payment of dividends
Payment of operating expenses
V
Net Cash Provided by Operating Activities
10,800
i
$
$
$56,900
16.100
812,100
21,900
3,100
14,700
27,600
208,600
1
!
Required information
[The following information applies to the questions displayed below.]
The following information pertains to the inventory of Parvin Company during Year 2.
January 1
April 1
700 units @ $31
2,600 units @ $36
900 units @ $39
October 1
Beginning Inventory
Purchased
Purchased
During Year 2, Parvin sold 3,900 units of inventory at $85 per unit and incurred $44,500 of operating expenses.
Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions.
Assume a 40 percent income tax rate. Parvin started the period with cash of $81,000, inventory of $21,700, common
stock of $56,000, and retained earnings of $46,700.
d. Determine the cash flow from operating activities under FIFO and LIFO. (Amounts to be deducted should be indicated with minus
sign.)
The following are excerpts from Hamburg Company’s statement of cash flows and other financial records.
From Statement of Cash Flows:
Cash flows from operating activities
$220,309
Cash flows from investing activities
-32,336
Cash flows from financing activities
-23,618
From other records:
Capital expenditure costs
12,310
Cash dividend payments
11,146
Sales revenue
559,818
Total assets
337,149
Compute cash flows to sales ratio
Chapter 22 Solutions
INTERMEDIATE ACCOUNTING
Ch. 22 - Prob. 22.1QCh. 22 - Prob. 22.2QCh. 22 - Prob. 22.3QCh. 22 - Prob. 22.4QCh. 22 - Prob. 22.5QCh. 22 - How do firms reclassify gains and losses on the...Ch. 22 - Prob. 22.7QCh. 22 - Prob. 22.8QCh. 22 - Prob. 22.9QCh. 22 - Prob. 22.10Q
Ch. 22 - Prob. 22.11QCh. 22 - What approach is used in preparing the operating...Ch. 22 - Under the indirect method, do firms subtract bond...Ch. 22 - Do firms subtract pension expense from net income...Ch. 22 - Prob. 22.15QCh. 22 - Prob. 22.16QCh. 22 - Prob. 22.1MCCh. 22 - Prob. 22.2MCCh. 22 - Big Dollars Corporation's comparative financial...Ch. 22 - Prob. 22.4MCCh. 22 - Prob. 22.5MCCh. 22 - Sykes Corporation's comparative balance sheets at...Ch. 22 - Prob. 22.7MCCh. 22 - Prob. 22.8MCCh. 22 - Prob. 22.1BECh. 22 - Prob. 22.2BECh. 22 - Prob. 22.3BECh. 22 - Prob. 22.4BECh. 22 - Prob. 22.5BECh. 22 - Prob. 22.6BECh. 22 - Prob. 22.7BECh. 22 - Operating Activities Section, Indirect Method,...Ch. 22 - Prob. 22.9BECh. 22 - Prob. 22.10BECh. 22 - Prob. 22.11BECh. 22 - Prob. 22.12BECh. 22 - Prob. 22.13BECh. 22 - Operating Activities Section, Indirect Method,...Ch. 22 - Prob. 22.15BECh. 22 - Prob. 22.16BECh. 22 - Prob. 22.17BECh. 22 - Prob. 22.18BECh. 22 - Prob. 22.19BECh. 22 - Prob. 22.20BECh. 22 - Prob. 22.21BECh. 22 - Prob. 22.22BECh. 22 - Complex Transactions, Acquisitions and...Ch. 22 - Prob. 22.24BECh. 22 - Prob. 22.25BECh. 22 - Complex Transactions, Change in Accounts...Ch. 22 - Prob. 22.27BECh. 22 - Prob. 22.28BECh. 22 - Prob. 22.1ECh. 22 - Prob. 22.2ECh. 22 - Prob. 22.3ECh. 22 - Prob. 22.4ECh. 22 - Prob. 22.5ECh. 22 - Prob. 22.6ECh. 22 - Prob. 22.7ECh. 22 - Prob. 22.8ECh. 22 - Prob. 22.9ECh. 22 - Prob. 22.10ECh. 22 - Statement of Cash Flows, Indirect Method....Ch. 22 - Prob. 22.12ECh. 22 - Prob. 22.13ECh. 22 - Prob. 22.14ECh. 22 - Prob. 22.15ECh. 22 - Prob. 22.16ECh. 22 - Prepare Statement of Cash Flows, Direct Method....Ch. 22 - Prob. 22.2PCh. 22 - Prob. 22.3PCh. 22 - Prob. 22.4PCh. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Statement of Cash Flows, Indirect Method, Complex...Ch. 22 - Prob. 22.11PCh. 22 - Prob. 22.12PCh. 22 - Prob. 22.13PCh. 22 - Statement of Cash Flows, Direct Method, Complex...Ch. 22 - Prob. 1JCCh. 22 - Prob. 1FSCCh. 22 - Prob. 1SSCCh. 22 - Surfing the Standards Case 2: Cash Flow per Share...Ch. 22 - Basis for Conclusions Cases Basis for Conclusions...Ch. 22 - Basis for Conclusions Case 2: Indirect versus...
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