Excerpts from Neuwirth Corporation's comparative balance sheet appear below: Ending Beginning Balance Balance Cash and cash equivalents $ 40,000 $ 27,000 $ 68,000 $ 30,000 $ 31,000 $ 71,000 Accounts receivable Inventory Which of the following is the correct treatment within the operating activities section of the statement of cash flows u Multiple Choice The change in Accounts Receivable is added to net income; The change in Inventory is subtracted from net income The ch ange i Accouints Receivablee is subtracted from pet income: The change in Inventory is added to net income

Excerpts from Neuwirth Corporation's comparative balance sheet appear below: Ending Beginning Balance Balance Cash and cash equivalents $ 40,000 $ 27,000 $ 68,000 $ 30,000 $ 31,000 $ 71,000 Accounts receivable Inventory Which of the following is the correct treatment within the operating activities section of the statement of cash flows u Multiple Choice The change in Accounts Receivable is added to net income; The change in Inventory is subtracted from net income The ch ange i Accouints Receivablee is subtracted from pet income: The change in Inventory is added to net income

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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View previous at Required information Assume a company prepares the statement of cash flows using the indirect method. The company purchases its Inventory on credit from suppliers. How should a decrease in accounts payable be reflected In the section that reconciles net income to cash flow from operating activitles? Multiple Choice It would be added if the section starts with net income and subtracted if it starts with a net loss It would be added in reconciling net income to cash flow from operafing activities It would be subtracted in reconciling net income to cash flow from operating activities A change in accounts payable does not affect the reconciliation of net income to cash flow from operating activities < Prev 15 of 15 Next Form 1040Sch...pdf 6 Form1040 Sch...pdf B1040 Sohedul...pdf Form8829 (1).pdf MacBook Air
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Create a statement of cash flow for the current year using Wright Co's income statement and balance sheet. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Income Statement: Current Year Revenue 4,742.00 Cost of Goods Sold 2,323.58 Gross Margin 2,418.42 SG&A 524.00 EBITDA 1,894.42 Depreciation Expense 504.00 EBIT 1,390.42 Interest Expense 164.20 EBT 1,226 Taxes 429.18 Net Income 797.04 Dividends 410 Addition to Retained Earnings 387.04 Balance Sheet: Assets Prior Year Current Year Cash 800 ???? Accounts Receivables 400 452.00 Inventory 300 358.00 Total Current Assets 1,500 ???? Net Fixed Assets 5,000 5,211.00 Total Asset 6,500 ???? Liabilities and Equity Prior Year Current Year Accounts Payable 300 320.00 Notes Payable 1,000 919.00 Total Current Liabilities 1,300 1,239.00 Long-Term Debt 2,000 2,365.00 Total Liabilities 3,300 ???? Common Stock and Paid-in Capital 2,200 2,200…
Accounts receivable from sales transactions were $45,331 at the beginning of the year and $66,395 at the end of the year. Net income reported on the income statement for the year was $118,325. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be Oa. $21,064 Ob. $118,325 Oc. $97,261 Od. $139,389
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NOTE: Using INDIRECT Method (Cash Flow)
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1401-42 Please make sure to use the account names from the attachement