Cadilo corp has reported net income of P186,600 for 2020.The corp also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal ofplant assets.The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses.Prepare the operating activities section of the statement of cash flows for 2020.Use indirect method.

Cash flow statement is an financial statement used by the organisation to find the cash earned and…

Answered: Cadilo corp has reported net income of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Vaugh Inc. reported net income of $3.10 million in 2022.Depreciation for the year was $198, 400, accounts receivable decreased $434, 000,and accounts payable decreased $347, 200 .Compute net cash provided by operating activities using the indirect method.
The 2021 Income statement for Egyptian Nolse Blasters shows that depreciation expense is $80 million, NOPAT is $239 million. At the end of the year, the balance of gross fixed assets was $650 million. The change in net operating working capital during the year was $70 million. Egyptian's free cash flow for the year was $180 million. Calculate the beginning-of-year balance for gross fixed assets. (Enter your answer in millions of dollars.) Gross fixed assets million
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc. collected the following information: Payment for the early extinguishments of long-term notes (book value: $62.0 million) Sale of common shares Retirement of common shares Loss on sale of equipment Proceeds from sale of equipment Issuance of short-term note payable for cash Acquisition of building for cash Purchase of marketable securities (not a cash equivalent) Purchase of marketable securities (considered a cash equivalent) Cash payment for 3-year insurance policy Collection of note receivable with interest (principal amount, $19) Declaration of cash dividends Distribution of cash dividends declared in 2020 Exercise 21-14 (Algo) Part 1 ($ in millions) $66.0 208.0 130.0 2.8 11.2 18.0 11.0 13.0 9.0 11.0 21.0 48.0 45.0 Required: 1. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021? (Amounts to be…
Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $15,100 for the year, a $17,100 increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020
30.For 2020, the FNL Corporation reported $ 21,500 of Income on an Equity Method Investment. During the same year, FNL received $ 1,500 of dividends from this investment. Assuming that the company uses the indirect method to prepare the Statement of Cash Flows, what is the net effect of this investment when adjusting the Net Income to compute the Cash Provided by the Operating Activities? Select one: a It will increase by $ 1,500. b. It will decrease by $ 20,000. c. It will increase by $ 20,000. d. $ 0. It has no effect.
Refer to the following financial statements for Kodenko Inc: Prepare forecasts of its income statement, statement of financial position and statement of cash flows for 2020 under the following assumptions:a. All financial ratio remains at 2019 level.b. Kodenko will not record restructuring costs for 2020.c. Taxes payable are at the 2019 level of RM544 million.d. Depreciation expense charged to Selling, general and administrative is RM765million for 2019 and 2018 repectively.e. Gross PPE is RM 12,982 million and RM12,963 million for 2019 and 2018 respectively.f. Projected current maturities of long term debt are RM13 million for 2020.g. Capital expenditure for 2019 and 2018 are RM1,047 and RM783, respectively
Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…
Blossom Company reported net income of $148,500. For 2022, depreciation was $45,100, and the company reported a gain on sale of Investments of $12.100. Accounts recelvable increased $25,100 and accounts payable decreased $23.100. Compute net cash provided by operating activities using the indirect method. Net cash provided by operating activities
Renzo Company reported net income of $196,600 for 2020. Renzo also reported depreciation expense of $43,700 and a loss of $4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $11,600 for the year, a $13,600 Increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method.
In its 2017 annual report, Allen Company reports the following (in thousands): 2017 2016 Total revenue $102,500 $99,400 Property, plant, equipment, gross 41,300 38,700 Property, plant, equipment, net 16,540 14,905 Depreciation expense 1,935 1,655 If revenue growth is projected to be 5%, the 2018 forecasted depreciation expense to be added back on the statement of cash flows is: A. $1,935 thousand B. $2,147 thousand C. $1,766 thousand D. $2,065 thousand E. None of the above disregard
[The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc. collected the following information: Payment for the early extinguishments of long-term notes (book value: $65.0 million) Sale of common shares Retirement of common shares Loss on sale of equipment Proceeds from sale of equipment Issuance of short-term note payable for cash Acquisition of building for cash Purchase of marketable securities (not a cash equivalent) Purchase of marketable securities (considered a cash equivalent) Cash payment for 3-year insurance policy Collection of note receivable with interest (principal amount, $20) Declaration of cash dividends Distribution of cash dividends declared in 2020 Cash Flows From Investing Activities: Required: 1. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021? (Amounts to be…
Using the financial statements and notes provided below, prepare a cash flow analysis for the Penelope Company for 2019. Penelope Company Income Statement For the Year Ended December 31, 2019 Revenues $2,467,000 Cost of Goods Sold 1,285,000 Gross Margin 1,182,000 Operating Expenses: Selling Expenses 230,000 Administrative Expenses 94,000 Depreciation 15,000 Total Operating Expenses 339,000 Operating Income 843,000 Other Items: Loss on Sale of Patent (11,000) Interest Expense (42,000) Other Items (53,000) Net Income Before Taxes 790,000 Taxes 316,000…

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