During Year 2, Chico Company earned $3,800 of cash revenue, paid $1,550 of cash expenses, and paid a $1,050 cash dividend to its owners. Based on this information alone, which of the following statements is not true? Multiple Choice Total assets increased by $1,200. Net income amounted to $2,250. Cash outflow from investing activities was $1,050. Cash inflow from operating activities was $2,250.

OllyPop Beverage Company reported the following items in the most recent year. Net income   $41,700 Dividends paid   5,060 Increase in accounts receivable   10,640 Increase in accounts payable   7,220 Purchase of equipment (capital expenditure)   8,300 Depreciation expense   4,220 Issue of notes payable   21,440 Compute net cash provided by operating activities, the net change in cash during the year.

Following are the income statement and balance sheet items for Faison Corporation from the company’s books and records at the end of fiscal year-end 20x1:   ($ millions)   Contributed capital $1,702 Cost of sales 13,567 Cash 1,393 Long-term liabilities 3,719 Accounts receivable 2,662 Other current assets 604 Other long-term assets 2,079 Other current liabilities 1,299 Other operating expenses 1,212 Other non-operating expenses 161 Inventory 1,093 Accounts payable 2,595 Property, net 3,216 Retained earnings 1,209 Sales 16,463 Tax expense 256 Equity income, net of tax 34 Other equity 523   Required: Using the information above, prepare the company’s year-end income statement and a balance sheet.

the net income reported on the income statement for the current year was $250,000. depreciation was $54,000. Accounts receivable and inventories decreased by $5000 and $16000, respectively. Prepaid expenses and accounts payable increased, respectively, by $500 and $15000. Investments were sold at a loss of $21500. How much cash was provided by operating activities. Can some one break this down and exaplin why the answer is $361,000?

Net income of Mansfield Company was $45,000. The accounting records reveal depreciation expense of $80,000 as well as increases in prepaid rent, salaries payable, and income taxes payable of $60,000, $15,000, and $12,000, respectively. Prepare the cash flows from operating activities section of Mansfield’s statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Pinnacle Plus declared and paid a cash dividend of $7,000 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Required: 1. Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. 2-a. Which account increased by the largest dollar amount? 2-b. Which account increased by the largest percentage? Complete this question by entering your answers in the tabs below. Reg 1 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Req 2A Complete the two final columns shown beside each item in Pinnacle Plus's comparative financial statements. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Req 2B Accounts Payable Income…

Garrett Company had the following activities for a recent year ended December 31: Sold land that cost $32,000 for $32,000 cash; purchased $190,000 of equipment, paying $160,000 in cash and signing a note payable for the rest; and recorded $6,700 in depreciation expense for the year. Net income for the year was $13,000. Compute (1) cash provided by operating activities and (2) cash used in investing activities for the year based on the data provided. (List cash outflows as negative amounts.) GARRETT COMPANY Excerpts from Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Net income Add back: Depreciation expense Cash flows from investing activities: Purchase of equipment Sale of land $ 13,000 6,700 19,700 (160,000) 32,000 $ (128,000)

JJ's has net sales of $48,920, depreciation of $711, cost of goods sold of $31,890, administrative costs of $11,210, interest expense of $680, dividends paid of $450, and a tax rate of 20%. What is the net cash from operating activities as it will appear on the accounting statement of cash flows if the firm spent $274 on net working capital? $3,980 $3,056 $3,667 $4,066

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The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,743 Total assets 4,540 End of year balance in cash 1,168 Total stockholders' equity 512 Gross profit (Sales − Cost of Sales) 2,500 Net increase in cash for the year 26 Operating expenses 2,065 Net operating cash flow 660 Other income (expense), net $ (24) Compute Orinoco's balance in cash at the beginning of the year.   Multiple Choice   $1,020   $1,168   $733   $1,142