The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows:Accounts receivable4InventoryPrepaid expensesTotalsAccounts payableSalaries payableInterest payableTotalsDecember 312023$131,00093,10055,200$279,300$ 89,00026,70050,600$166,300Cash flows from operating activities:2022$110,100125,10050,600$285,800$ 68,40038,90041,700$149,000During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on account. Profit for2023 was $257,000.KID-GAME SOFTWARE INC.Statement of Cash FlowsFor Year Ended December 31, 2023Required:1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any deduction in cash andcash outflows as negative amounts.)002₁00Check my work#Next

The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as foll Accounts receivable A Inventory Prepaid expenses Totals Accounts payable Salaries payable Interest payable Totals December 31 2023 $131,000 2022 $110,100 93,100 125,100 55,200 50,600 $279,300 $285,800 $ 89,000 $ 68,400 26,700 38,900 50,600 41,700 $166,300 $149,000 During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on 2023 was $257,000. Cash flows from operating activities: Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any ded cash outflows as negative amounts.) KID-GAME SOFTWARE INC. Statement of Cash Flows For Year Ended December 31, 2023 00 2 00 # Next

The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as foll Accounts receivable A Inventory Prepaid expenses Totals Accounts payable Salaries payable Interest payable Totals December 31 2023 $131,000 2022 $110,100 93,100 125,100 55,200 50,600 $279,300 $285,800 $ 89,000 $ 68,400 26,700 38,900 50,600 41,700 $166,300 $149,000 During 2023, Kid-game Software Inc. reported depreciation expense of $61,000. All purchases and sales are on 2023 was $257,000. Cash flows from operating activities: Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any ded cash outflows as negative amounts.) KID-GAME SOFTWARE INC. Statement of Cash Flows For Year Ended December 31, 2023 00 2 00 # Next

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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Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable Total current liabilities (a1) a. $8,600 Current ratio 12,900 b. Quick ratio 145,000 5,200 $171,700 $53,300 3,600 1,000 $57,900 2024 $30,100 10,300 :1 105,000 $152,300 :1 6,900 $40,400 5,000 1,000 $46,400 $27,100 7,700 100,000 During 2024, credit sales and cost of goods sold were $138,040 and $82,500, respectively. The 2023 and 2022 credit sales were $151,200 and $151,840, respectively, and the cost of goods sold for the same periods were $79,950 and $82,325, respectively. The accounts receivable and inventory balances at the end of 2021 were $6,900 and $85,000, respectively. 5,600 $140,400 Using the above data, calculate the following ratios: (Round receivables turnover ratio and average collection period to 1 decimal place, e.g. 15.2, days to sell inventory to 0 decimal places, e.g. 152 and all other answers to 2 decimal…
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You observe a company with the following items on the balance sheet (in thousands): Cash and equivalents 2018: $22 Cash and equivalents 2017: $23 Inventory 2018: $26 Inventory 2017: $21 Accounts receivable 2018: $144 Accounts receivable 2017: $129 Property, Plant, and Equipment 2018: $1,584 Property, Plant, and Equipment 2017: $1,663 Current Liabilities 2018: $247 Current Liabilities 2017: $291 Long-term debt 2018: $857 Long-term debt 2017: $1,494 What is the change in net working capital for the firm for these years. Answer in thousands (the same as how the numbers are presented).
The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows: December 31 2023 2022 Accounts receivable $ 117,000 $ 92,500 Inventory 83,200 105,000 Prepaid expenses 49,400 42,500 Totals $ 249,600 $ 240,000 Accounts payable $ 75,000 $ 57,500 Salaries payable 22,500 32,500 Interest payable 42,500 35,000 Totals $ 140,000 $ 125,000 During 2023, Kid-game Software Inc. reported depreciation expense of $47,000. All purchases and sales are on account. Profit for 2023 was $243,000. Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (List any deduction in cash and cash outflows as negative amounts.)
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