Intermediate Accounting, 10 Ed
10th Edition
ISBN: 9781260310177
Author: Mark W. Nelson, Wayne B. Thomas J. David Spiceland
Publisher: McGraw-Hill Education
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Question
Chapter 4, Problem 4.15E
To determine
To prepare: A reconciliation of net cash flows from operating activities of Company H.
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Chapter 4 Solutions
Intermediate Accounting, 10 Ed
Ch. 4 - The income statement is a change statement....Ch. 4 - What transactions are included in income from...Ch. 4 - Prob. 4.3QCh. 4 - Prob. 4.4QCh. 4 - Prob. 4.5QCh. 4 - What are restructuring costs and where are they...Ch. 4 - Define intraperiod tax allocation. Why is the...Ch. 4 - How are discontinued operations reported in the...Ch. 4 - What is meant by a change in accounting principle?...Ch. 4 - Prob. 4.10Q
Ch. 4 - The correction of a material error discovered in a...Ch. 4 - Define earnings per share (EPS). For which income...Ch. 4 - Prob. 4.13QCh. 4 - Describe the purpose of the statement of cash...Ch. 4 - Prob. 4.15QCh. 4 - Explain what is meant by noncash investing and...Ch. 4 - Distinguish between the direct method and the...Ch. 4 - Prob. 4.18QCh. 4 - Prob. 4.19QCh. 4 - Show the calculation of the following...Ch. 4 - Show the DuPont frameworks calculation of the...Ch. 4 - Prob. 4.22QCh. 4 - Prob. 4.23QCh. 4 - Prob. 4.1BECh. 4 - Prob. 4.2BECh. 4 - Prob. 4.3BECh. 4 - Prob. 4.4BECh. 4 - Prob. 4.5BECh. 4 - Prob. 4.6BECh. 4 - Prob. 4.7BECh. 4 - Prob. 4.8BECh. 4 - Prob. 4.9BECh. 4 - Prob. 4.10BECh. 4 - Prob. 4.11BECh. 4 - Prob. 4.12BECh. 4 - Statement of cash flows; indirect method LO48 Net...Ch. 4 - Prob. 4.14BECh. 4 - Prob. 4.15BECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Prob. 4.5ECh. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.15ECh. 4 - Prob. 4.23ECh. 4 - Concepts; terminology LO41, LO42, LO43, LO44,...Ch. 4 - Inventory turnover; calculation and evaluation ...Ch. 4 - Prob. 4.29ECh. 4 - Prob. 4.30ECh. 4 - Prob. 4.31ECh. 4 - Prob. 4.32ECh. 4 - Prob. 4.1PCh. 4 - Prob. 4.2PCh. 4 - Prob. 4.3PCh. 4 - Prob. 4.4PCh. 4 - Prob. 4.5PCh. 4 - Prob. 4.6PCh. 4 - Prob. 4.7PCh. 4 - Prob. 4.8PCh. 4 - Prob. 4.9PCh. 4 - Prob. 4.11PCh. 4 - Prob. 4.12PCh. 4 - Use of ratios to compare two companies in the same...Ch. 4 - Prob. 4.15PCh. 4 - Prob. 4.16PCh. 4 - Prob. 4.1DMPCh. 4 - Judgment Case 42 Restructuring costs LO43 The...Ch. 4 - Prob. 4.3DMPCh. 4 - Prob. 4.4DMPCh. 4 - Prob. 4.5DMPCh. 4 - Prob. 4.6DMPCh. 4 - Prob. 4.7DMPCh. 4 - IFRS Case 48 Statement of cash flows;...Ch. 4 - Judgment Case 49 Income statement presentation;...Ch. 4 - Prob. 4.10DMPCh. 4 - Prob. 4.13DMPCh. 4 - Prob. 4.15DMPCh. 4 - Prob. 4.17DMPCh. 4 - Prob. 4.18DMPCh. 4 - Prob. 2CCTC
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Similar questions
- Statement of cash flowsindirect method The following statement of cash flows for Shasta Inc. was not correctly prepared: Shasta Inc. Statement of Cash Flows For the Year Ended December 31, 20Y9 Cash flows from operating activities: Net income............................................. 360,000 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation......................................... 100,800 Gain on sale of investments........................... 17,280 Changes in current operating assets are liabilities: Increase in accounts receivable...................... 27,360 Increase in inventories.............................. (36,000) Increase in accounts payable........................ (3,600) Decrease in accrued expenses payable............... (12,400) Net cash flow from operating activities................... 463,440 Cash flows from (used for) investing activities: Cash from sale of investments............................ 240,000 Cash used for purchase of land........................... (259,200) Cash used for purchase of equipment..................... (432,000) Net cash flow used for investing activities................. (415,200) Cash flows from (used for) financing activities: Cash from sale of common stock......................... 312,000 Cash used for dividends................................. (132,000) Net cash flow from financing activities.................... 180,000 Increase (decrease) in cash.................................. 47,760 Cash at the end of the year.................................. 192,240 Cash at the beginning of the year............................ 240,000 a. List the errors you find in the statement of cash flows. The cash balance at the beginning of the year was 240,000. All other amounts are correct, except the cash balance at the end of the year. b. Prepare a corrected statement of cash flows.arrow_forwardStatement of cash flowsindirect method The comparative balance sheet of Harris Industries Inc. at December 31, 20Y4 and 20Y3, is as follows: Dec 31, 20Y4 Dec 31, 20Y3 Assets Cash 443,240 360,920 Accounts receivable (net) 665,280 592,200 Inventories 887,880 1,022,560 Prepaid expenses 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 1,134,000 Accumulated depreciationbuildings (466,200) (414,540) Machinery and equipment 781,200 781,200 Accumulated depreciationmachinery and equipment (214,200) (191,520) Patents 106,960 112,000 Total assets 4,251,800 3,724,420 Liabilities and Stockholders' Equity Accounts payable 837,480 927,080 Dividends payable 32,760 25,200 Salaries payable 78,960 87,080 Mortgage note payable, due in 10 years 224,000 0 Bonds payable 0 390,000 Common stock, S par 200,400 50,400 Paid-in capital: Excess of issue price over parcommon stock 366,000 126,000 Retained earnings 2,512,200 2,118,660 Total liabilities and stockholders' equity 4,251,800 3,724,420 An examination of the income statement and the accounting records revealed the following additional information applicable to 20Y4: a. Net income, 524,580. b. Depreciation expense reported on the income statement: buildings, 51,660; machinery and equipment, 22,680. c. Patent amortization reported on the income statement, 5,040. d. A building was constructed for 579,600. e. A mortgage note for 224,000 was issued for cash. f. 30.000 shares of common stock were issued at 13 in exchange for the bonds payable. g. Cash dividends declared, 131,040. Instructions Prepare a statement of cash flows, using the indirect method.arrow_forwardStatement of cash flowsdirect method applied to PR 1618 The Comparative balance sheet of Merrick Equipment Co. for Dec. 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash.................................. 70,720 47,940 Accounts receivable (net).................................. 207,230 188,190 Inventories............................................... 298,520 289,850 Investments.............................................. 0 102,000 Land..................................................... 295,800 0 Equipment................................................ 438,600 358,020 Accumulated depreciationequipment.................... (99,110) (184,320) Total assets............................................ 1,211,760 901,680 Liabilities and Stockholders' Equity Accounts payable......................................... 205,700 194,140 Accrued expenses payable................................. 30,600 26,860 Dividends payable....................................... 25,500 20,400 Common stock, 1 par..................................... 202,000 102,000 Paid-in capital: Excess of issue price over parcommon stock...... 354,000 204,000 Retained earnings......................................... 393,960 354,280 Total liabilities and stockholders' equity.................. 1,211,760 901,680 The income statement for the year ended December 31. 20Y9, is as follows: Sales........................................... 2,023,898 Cost of merchandise sold........................ 1,245,476 Gross profit..................................... 778,422 Operating expenses: Depreciation expense........................ 14,790 Other operating expenses.................... 517,299 Total operating expenses.................. 532,089 Operating income............................... 246,333 Other expenses: Loss on sale of investments................... (10,200) Income before income tax....................... 236,133 Income tax expense............................. 94,453 Net income..................................... 141,680 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows: a. Equipment and land were acquired for cash. b. There were no disposals of equipment during the year. c. The investments were sold for 91,800 cash. d. The common stock was issued for cash. e. There was a 102,000 debit to Retained Earnings for cash dividends declared. Instructions Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities.arrow_forward
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