A1 Pizza International, Incorporated, reported the following information (in thousands):Operating Activities$ 10033,3051706436648,720719Increase in accrued liabilitiesDecrease in income taxes payable2,721Payments on notes payableCash paid for equipment12,69129,073The following is the summarized income statement for Pizza International, Incorporated (in thousands):Net IncomeDepreciationIncrease in receivablesDecrease in inventoryIncrease in prepaid expensesDecrease in accounts payableRevenuesCost of SalesGross ProfitSalary and Wages ExpenseDepreciationOffice ExpenseNet Income before Income Tax ExpenseIncome Tax ExpenseNet Income$ 143,55145,50098,05156,83533,3057,78113030$ 100Required:1. Based on this information, compute cash flow from operating activities using the direct method. Assume Prepaid Expenses andAccrued Liabilities relate to office expenses.2. What was the primary reason that Pizza International was able to report large positive cash flow from operations despite nearlyhaving a net loss?

The cash flow statement is prepared to record the cash flow from various activities during the…

zza International, Incorporated, reported the following information (in thousands): Operating Activities Net Income Depreciation Increase in receivables Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Increase in accrued liabilities Revenues Cost of Sales Gross Profit Salary and Wages Expense Depreciation $ 100 33,305 170 643 664 Decrease in income taxes payable Payments on notes payable Cash paid for equipment e following is the summarized income statement for Pizza International, Incorporated (in thousands): Office Expense Net Income before Income Tax Expense Income Tax Expense "Net Income 8,720 719 2,721 12,691 29,073 $ 143,551 45,500 98,051 56,835 33,305 7,781 130 30 $ 100 -quired: Based on this information, compute cash flow from operating activities using the direct method. Assume Prepaid Expenses and Accrued Liabilities relate to office expenses. What was the primary reason that Pizza International was able to report large positive cash flow from operations despite nearly having a not loss?

zza International, Incorporated, reported the following information (in thousands): Operating Activities Net Income Depreciation Increase in receivables Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Increase in accrued liabilities Revenues Cost of Sales Gross Profit Salary and Wages Expense Depreciation $ 100 33,305 170 643 664 Decrease in income taxes payable Payments on notes payable Cash paid for equipment e following is the summarized income statement for Pizza International, Incorporated (in thousands): Office Expense Net Income before Income Tax Expense Income Tax Expense "Net Income 8,720 719 2,721 12,691 29,073 $ 143,551 45,500 98,051 56,835 33,305 7,781 130 30 $ 100 -quired: Based on this information, compute cash flow from operating activities using the direct method. Assume Prepaid Expenses and Accrued Liabilities relate to office expenses. What was the primary reason that Pizza International was able to report large positive cash flow from operations despite nearly having a not loss?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
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The following are the financial statement JNC Ltd. for the year ended 31 March 2020: JNC Ltd. Income statement For the year ended 31 March 2020 $”M” Revenue 1276.50 Cost of sales (907.00) 369.50 Distribution costs (62.50) Administrative expenses (132.00) 175.00 Interest received 12.50 Interest paid (37.50) 150.00 Tax (70.00) Profit after tax 80.00 JNC Ltd. Statement of financial position as at 31 March 2020 2019 $”M” $”M” ASSETS: Non- current assets: Property, plant and equipment 190 152.5 Intangible assets 125 100 Investments 12.5 Current assets: Inventories 75 51 Receivables 195 157.5 Short-term investment 25 Cash in hand 1 0.5 Total assets 611 474 Equity and liabilities: Equity: Share capital (10 million ordinary shares of $ 10 per value) 100 75 Share premium 80 75 Revolution reserve 50 45.5 Retained earnings 130 90 Non-current liabilities: Loan 85 25…
Below are extracts from the financial statements of Charlton Ltd: Statement of profit or loss for the year ended 31 December 2020 Revenue 214,550 Cost of sales (182,000) Gross profit 32,550 Investment income 4,760 Loss on disposal (40) (6,300) (3,500) Distribution costs Administrative expenses Profit from operations 27,470 Finance costs (2,800) Profit before tax 24,670 (2,100) 22,570 Income tax expense Profit for the period Statements of financial position 31 December 2020 31 December 2019 Assets Non-current assets Property, plant and equipment 15,920 5,950 Investments 17,500 17,500 33,420 23,450 31 December 2020 31 December 2019 Assets Non-current assets Property, plant and equipment 15,920 5,950 Investments 17,500 17,500 33,420 23,450 Current assets Inventories 7,000 13,650 Trade and other receivables 13,300 8,400 Cash and cash equivalents 2,870 1,120 23,170 23,170 Total assets 56,590 46,620 Equity and liabilities Capital and reserves Share capital 7,000 6,300 Share premium Retained…
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