ear amounted to $21,700. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   End of Year Beginning of Year Cash $51,270   $47,170   Accounts receivable (net) 36,760   34,860   Merchandise inventory 50,190   53,070   Prepaid expenses 5,640   4,480   Accounts payable (merchandise creditors) 48,040   44,620   Wages payable 26,250   29,150   a.  Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.   Statement of Cash Flows (partial)   Cash flows from operating activities:       $fill in the blank 7e3d0afa507ffb9_2   Adjustments to reconcile net income to net cash flow from operating activities:       fill in the blank 7e3d0afa507ffb9_4   Changes in current operating assets and liabilities:       fill in the blank 7e3d0afa507ffb9_6     fill in the blank 7e3d0afa507ffb9_8     fill in the blank 7e3d0afa507ffb9_10     fill in the blank 7e3d0afa507ffb9_12     fill in the blank 7e3d0afa507ffb9_14   Net cash flow from operating activities   $fill in the blank 7e3d0afa507ffb9_15 b.  Cash flows from operating activities differs from net income because it does not use the   of accounting. For example revenues are recorded on the income statement when  .

Liberty Corporation reported the following financial statements: Which measure expresses Liberty’s times-interest-earned ratio? (amounts rounded) a. 54.7% b. 19 times c, 34.5% d. 32 times

Presented below is the trial balance of Muscat Corporation on December 31, 2019 Accounts Debit Credit Cash OMR 197,000   Sales Revenue   OMR 8,100,000 Trading securities 153,000   Cost of Goods Sold 5,132,000   Debt Investments (long-term) 299,000   Equity Investments (long-term) 277,000   Notes Payable (short-term)   90,000 Accounts Payable   455,000 Selling Expenses 2,000,000   Investment Revenue   63,000 Land 260,000   Buildings 1,040,000   Dividends Payable   136,000 Accrued Liabilities   96,000 Accounts Receivable 435,000   Accumulated Depreciation—Buildings   352,000 Allowance for Doubtful Accounts   25,000 Administrative Expenses 900,000   Interest Expense 211,000   Raw Materials 97,000   Work In process 250,000   Finished Goods 250,000   Gain (extraordinary)   80,000 Notes Payable…

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $35,479 Accounts receivable 69,658 Accrued liabilities 6,342 Cash 21,866 Intangible assets 40,636 Inventory 81,299 Long-term investments 116,464 Long-term liabilities 78,760 Marketable securities 34,728 Notes payable (short-term) 21,173 Property, plant, and equipment 607,986 Prepaid expenses 2,827 Based on the data for Harding Company, what is the amount of quick assets? a.$56,594 b.$126,252 c.$1,510,965 d.$745,879

The following data are taken from the financial statements of Sigmon Inc. Accounts receivable, end of year Sales on account 20Y2 $182,600 $197,000 1,043,900 1,001,560 20Y3 1. Accounts receivable turnover For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. 20Y2 2. Number of days' sales in receivables 20Y1 20Y3 $211,800 Days Days

Required Information [The following Information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks Includes the following account balances: Accounts Cash Debit. Credit Accounts Receivable Allowance for Uncollectible Accounts $ 27,100 50,200 $ 6,200 Inventory 22,000 Land 66,000 Equipment 25,000 Accumulated Depreciation 3,500 Accounts Payable 30,500 Notes Payable (6%, due April 1, 2022) 70,000 Common Stock 55,000 Retained Earnings 25,100 Totals $190,300 $190,300 During January 2021, the following transactions occur: January 2 Sold gift cards totaling $12,000. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $167,000. January 15 Firework sales for the first half of the month total $155,000. All of these sales are on account. The cost of the units sold is $83,800. January 23 Receive $127,400 from customers on accounts receivable. January 25 Pay $110,000 to…

The following information relates to SE10-5 through SE10-7: (in millions) Net sales... Cost of goods sold SE10-7. Gross profit. Selling and administrative expenses Income from operations Interest expense.. EVANS & SONS, INC. Income Statement For Years Ended December 31, 2019 and 2018 Income before income taxes Income tax expense. Net income (in millions) Assets Current assets Cash and cash equivalents Accounts receivable Inventory.. Other current assets. Total current assets Property, plant, & equipment (net) Other assets. Total Assets Liabilities and Stockholders' Equity Current liabilities. Long-term liabilities. Total liabilities.. EVANS & SONS, INC. Balance Sheet December 31, 2019 and 2018 Stockholders' equity - common. Total Liabilities and Stockholders' Equity.. 2019 9,800 (5,500) 4,300 (2,800) 1,500 (300) $ 1,200 2019 100 900 500 400 2018 1,900 2,600 5,700 $10,200 9,300 (5,200) 4,100 (2,700) (220) (200) $980 $950 1,400 $ (250) 1,150 2018 300 800 650 250 2,000 2,500 5,900 $10,400…

The balance sheet shows the following accounts and amounts: Inventory, $84.000; Long-term Debt 125,000; Common Stock $60,000, Accounts Payable $44,000; Cash $132,000, Buildings and Equipment $390,000: Short-term Debt $48,000, Accounts Receivable $109,000; Retained Earnings $204,000; Notes Payable $54,000; Accumulated Depreciation $180,000. Total current assets on the balance sheet are Multiple Choice $216,000 $325,000 $535.000 $715,000 1 www Liter

The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $350,000; allowance for uncollectible accounts at the beginning of the year, $24,000 (credit balance); credit sales during the year, $1,200,000; accounts receivable written off during the year, $15,000; cash collections from customers, $1,100,000. Assuming the company estimates that future bad debts will equal 12% of the year-end balance in accounts receivable.1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.   20Y3 20Y2 20Y1 Accounts receivable, end of year $120,200   $128,000   $134,800   Sales on account 719,780   670,140       a.  For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year.