Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Gain on disposal of property
1,165
Depreciation expense
11,620
Other items involving noncash expenses
1,355
Balance sheet data:
Increase in accounts receivable
1,710
Decrease in inventory
980
Increase in prepaid expenses
600
Decrease in accounts payable
760
Decrease in accrued and other current liabilities
1,035
a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the
indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash,
or any negative adjustments. Enter the amounts in thousands of dollars, as shown above.
Line Item Description
Cardinas Corp.
Cash Flows from Operating Activities
(in thousands)
Cash flows from (used for) operating activities:
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
b. The company has
earnings and
$
Amount Amount
net cash flows from operating
in sales. In addition, the
activities. The increase in accounts receivable indicates a(n)
company is using its cash to decrease its accounts payable balance, which indicates that the company is
Overall, National Beverage is doing
financially.
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Transcribed Image Text:Gain on disposal of property 1,165 Depreciation expense 11,620 Other items involving noncash expenses 1,355 Balance sheet data: Increase in accounts receivable 1,710 Decrease in inventory 980 Increase in prepaid expenses 600 Decrease in accounts payable 760 Decrease in accrued and other current liabilities 1,035 a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. Line Item Description Cardinas Corp. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: b. The company has earnings and $ Amount Amount net cash flows from operating in sales. In addition, the activities. The increase in accounts receivable indicates a(n) company is using its cash to decrease its accounts payable balance, which indicates that the company is Overall, National Beverage is doing financially.
Cash flows from (used for) operating activities-indirect method
Selected data (in thousands) derived from the income statement and balance sheet of Cardinas Corp. for a recent
year are as follows:
Income statement data:
Net income
$49,265
Gain on disposal of property
1,165
Depreciation expense
11,620
Other items involving noncash expenses
1,355
Balance sheet data:
Increase in accounts receivable
1,710
Decrease in inventory
980
Increase in prepaid expenses
600
Decrease in accounts payable
760
Decrease in accrued and other current liabilities
1,035
a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the
indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash,
or any negative adjustments. Enter the amounts in thousands of dollars, as shown above.
Line Item Description
Cardinas Corp.
Cash Flows from Operating Activities
(in thousands)
Cash flows from (used for) operating activities:
Adjustments to reconcile net income to net cash flows from (used for) operating activities:
Changes in current operating assets and liabilities:
Amount Amount
expand button
Transcribed Image Text:Cash flows from (used for) operating activities-indirect method Selected data (in thousands) derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows: Income statement data: Net income $49,265 Gain on disposal of property 1,165 Depreciation expense 11,620 Other items involving noncash expenses 1,355 Balance sheet data: Increase in accounts receivable 1,710 Decrease in inventory 980 Increase in prepaid expenses 600 Decrease in accounts payable 760 Decrease in accrued and other current liabilities 1,035 a. Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method for Cardinas Corp. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. Line Item Description Cardinas Corp. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Amount Amount
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