Harper Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $340 million. The income statement shows that net income is $315 million and depreciation expense is $46 million. During the year, the change in inventory on the balance sheet was $38 million, the change in accrued wages and taxes was $15 million, and the change in accounts payable was $20 million. At the beginning of the year the balance of accounts receivable was $50 million. Calculate the end-of-year balance for accounts receivable.

Harper Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $340 million. The income statement shows that net income is $315 million and depreciation expense is $46 million. During the year, the change in inventory on the balance sheet was $38 million, the change in accrued wages and taxes was $15 million, and the change in accounts payable was $20 million. At the beginning of the year the balance of accounts receivable was $50 million. Calculate the end-of-year balance for accounts receivable.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

See similar textbooks

Similar questions

Harper Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $360 million. The income statement shows that net income is $313 million and depreciation expense is $66 million. During the year, the change in inventory on the balance sheet was $58 million, the change in accrued wages and taxes was $35 million, and the change in accounts payable was $40 million. At the beginning of the year the balance of accounts receivable was $40 million. Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions.) End of year balance of accounts receivable million
Chris's Outdoor Furniture, Inc. has net cash flows from operating activities for the last year of $340 million. The income statement shows that net income is $315 million and depreciation expense is $44 million. During the year, the change in inventory on the balance sheet was $34 million, change in accrued wages and taxes was $14 million, and change in accounts payable was $25 million. At the beginning of the year, the balance of accounts receivable was $44 million Calculate the end-of-year balance for accounts receivable.
Chris’s Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $310 million. The income statement shows that net income is $285 million and depreciation expense is $41 million. During the year, the change in inventory on the balance sheet was $31 million, change in accrued wages and taxes was $11 million, and change in accounts payable was $22 million. At the beginning of the year, the balance of accounts receivable was $41 million. Calculate the end-of-year balance for accounts receivable.
Chris's Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $360 million. The income statement shows that net income is $335 million and depreciation expense is $46 million. During the year, the change in inventory on the balance sheet was $36 million, change in accrued wages and taxes was $16 million, and change in accounts payable was $27 million. At the beginning of the year, the balance of accounts receivable was $46 million. Calculate the end-of-year balance for accounts receivable. (Enter your answer in millions of dollars.) Accounts receivable million
Chris's Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $350 million. The income statement shows that net income is $325 million and depreciation expense is $45 million. During the year, the change in inventory on the balance sheet was $35 million, change in accrued wages and taxes was $15 million, and change in accounts payable was $26 million. At the beginning of the year, the balance of accounts receivable was $45 million. Calculate the end-of-year balance for accounts receivable. Note: Enter your answers in millions of dollars. (i.e., Enter 10,000,000 as 10.) Accounts receivable million
Nickolas's Nut Farms, Incorporated has net cash flows from operating activities for the last year of $25 million. The income statement shows that net income is $15 million and depreciation expense is $6 million. During the year, the change in inventory on the balance sheet was a decrease of $4 million, change in accrued wages and taxes was a decrease of $1 million and change in accounts payable was a decrease of $1 million. At the beginning of the year the balance of accounts receivable was $5 million. What was the end of year balance for accounts receivable? Multiple Choice $2 million $3 million $7 million $9 million
Disturbed, Incorporated, had the following operating results for the past year: sales = $22,563; depreciation = $1,360; interest expense = $1,096; costs = $16,515. The tax rate for the year was 23 percent. What was the company's operating cash flow?
Whipporwill, Incorporated’s, net income for the most recent year was $24,020. The tax rate was 24 percent. The firm paid $4,156 in total interest expense and deducted $6,291 in depreciation expense. What was the cash coverage ratio for the year
For the past year, Kayla, Incorporated, has sales of $46,967, interest expense of $4,088, cost of goods sold of $17,184, selling and administrative expense of $12,051, and depreciation of $6,850. If the tax rate is 21 percent, what is the operating cash flow?
For the past year, Kayla, Inc., has sales of $46,382, interest expense of $3,854, cost of goods sold of $16,659, selling and administrative expense of $11,766, and depreciation of $6,415 . If the tax rate is 35 percent, what is the operating cash flow?
At the end of last year, River Side Company achieved $9 million in revenues (EBITDA). Depreciation expense was $2.2 million, with interest paid of $900,000 and a corporate tax rate of 32%. At the end of the fiscal year it had current assets totaling $12 million, $2 million in accounts payable, $1.4 million in accrued liabilities, $1.2 million in other payables, and $7 million in property, plant, and equipment. Assume that River Side has no excess cash, uses debt and equity to finance its operations, has no current liabilities, and recognizes depreciation periodically. Determine the company's net income or loss. Calculate net working capital and operating working capital.
Last year, IC Inc. had operating income of $500,000 after charging $200,000 of depreciation expense. During the year, trade accounts receiv- able increased by $50,000, and inventory increased by $25,000. Trade accounts payable increased by $10,000. Interest expense was $5,000, and income taxes totalled $200,000. Required Calculate the cash from operations for the year. During