Bennett Co.'s prepaid insurance was $190,000 at December 31, 2020 and $90,000 at December 31, 2019. Insurance expense was $62,000 for 2020 and $54,000 for 2019. What amount of cash disbursements for insurance would be reported in Bennett's 2020 net cash provided by operating activities presented on a direct basis?

Slime Corp. maintains its accounting records on the cash basis but restates it financial statements to accrual basis. Iniwan had P600,000 in cash basis pre-tax income for 2020. The following information pertains to Iniwan’s operations for the year ended December 31, 2019 and 2020: Accounts receivable: 2020- P400,000; 2019- P200,000 Accounts payable: 2020- P150,000; 2019- P300,000 Under accrual method, what is the income before taxes should Slime report in its December 31, 2020?

Given the following data from company def, using the direct method of cash flows the company would have determined its cash inflow to be:  $30,000.00 Accounts receivable, at 12/31/2018 $20,000.00 Accounts receivable, at 12/31/2019 $507,000.00 Sales for year 2019 $357,000.00 Gross Profit A) 497,000 B) 367,000 C) 347,000 D) 517,000

Hokusai Creative's 2018 balance sheet showed long-term debt of $450,000, the 2019 balance sheet showed long-term debt of $490,000, and the 2019 income statement showed an interest expense of $15,750.  Cash flow to creditors in 2019 was:

You are the new accountant for 12th National Bank and are preparing its 2019 statement of cash flows. The bank reports net income of $75,800 on its 2019 income statement. Included in this net income are the following items: $6,700 gain on sale of trading securities, $1,200 unrealized holding gain on trading securities, and $5,100 loss on sale of securities available for sale. Among its 2019 transactions, the bank sold trading securities with a carrying value of $22,900 for $29,600, and purchased trading securities for $65,200. The bank sold securities available for sale with a cost (and carrying value) of $58,700 for $53,600, and purchased securities available for sale for $39,400. It also made routine 90-day loans of $47,500 to customers and collected $20,000 principal on these customer loans. As a result of the preceding information, the bank’s trading securities account increased by $43,500, the securities available for sale account decreased by $19,300, and the loans receivable…

This Information will be used for all questions: Selected Balance Sheet Information    Year 2020     Year 2021 Cash             40,000  ?  Accounts Receivable             10,000             14,000 Prepaid Rent               5,000               6,000 Inventory             35,000             30,000 Accounts Payable               3,000               2,000 Unearned Revenue               5,000               7,000 Income Taxes Payable             14,000             12,000       Other Relevant Information for 2021     Beginning Cash Balance             40,000   Net Income             65,000   Depreciation Expense             40,000   Cash Paid for Dividends             10,000   Cash Received for Loan             40,000   Cash Repaying Loan             10,000   Cash Payment to Purchase Land             12,000   Cash Received for Sale of Equipment             15,000   Gain on Sale of Equipment               5,000   Cash Received for Issuance of Stock…

This Information will be used for all questions: Selected Balance Sheet Information     Year 2020   Year 2021 Cash             40,000  ?  Accounts Receivable             10,000             14,000 Prepaid Rent               5,000               6,000 Inventory             35,000             30,000 Accounts Payable               3,000               2,000 Unearned Revenue               5,000               7,000 Income Taxes Payable             14,000             12,000       Other Relevant Information for 2021     Beginning Cash Balance             40,000   Net Income             65,000   Depreciation Expense             40,000   Cash Paid for Dividends             10,000   Cash Received for Loan             40,000   Cash Repaying Loan             10,000   Cash Payment to Purchase Land             12,000   Cash Received for Sale of Equipment             15,000   Gain on Sale of Equipment               5,000   Cash Received for Issuance of Stock…

Please help.

Use the following information from Isthmus Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. What is the net cash flows from operating activities for 2018? Cash Account Receivable Inventory Accounts Payable Salaries Payable Additional information: Net income Depreciation expense $77,600 $45,200 $11,900 $36,000 Dec. 31, 2018 $295,000 45,300 92,200 23,000 1,700 45,200 33,300 Dec. 31, 2017 $259,000 48,700 91,000 26,300 1,500

This Information will be used for all questions: Selected Balance Sheet Information  Year 2020  Year 2021 Cash             40,000  ?  Accounts Receivable             10,000             14,000 Prepaid Rent               5,000               6,000 Inventory             35,000             30,000 Accounts Payable               3,000               2,000 Unearned Revenue               5,000               7,000 Income Taxes Payable             14,000             12,000       Other Relevant Information for 2021     Beginning Cash Balance             40,000   Net Income             65,000   Depreciation Expense             40,000   Cash Paid for Dividends             10,000   Cash Received for Loan             40,000   Cash Repaying Loan             10,000   Cash Payment to Purchase Land             12,000   Cash Received for Sale of Equipment             15,000   Gain on Sale of Equipment               5,000   Cash Received for Issuance of Stock…