EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
expand_more
expand_more
format_list_bulleted
Question
Chapter 17, Problem 5BE
To determine
Introduction: The
To calculate: The net cash provided by operating activity using the indirect method.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The net income for Swifty Corporation for 2022 was $260,100. For 2022, depreciation on plant assets was $67,800, and the
company incurred a loss on disposal of plant assets of $27,100.
Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the
company's accounts. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000))
Ⓒ
The net income for Crane Co. for 2022 was $305,000. For 2022, depreciation on plant assets was $65,200, and the company incurred
a loss on disposal of plant assets of $27,600.
Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's
accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cash Flows from Operating Activities
Net Income
Crane Co.
Statement of Cash Flows-Indirect Method
For the Year Ended December 31, 2022
Adjustments to reconcile net income to
Depreciation Expense
Loss on Disposal of Plant Assets
v
$
65200
27,600
$
$
305000
397800
The net income for Swifty Corporation for 2022 was $260,100, For 2022, depreciation on plant assets was $67,800, and the
company incurred a loss on disposal of plant assets of $27,100.
Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the
company's accounts. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000))
Chapter 17 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 17 - Prob. 1QCh. 17 - Prob. 2QCh. 17 - Prob. 3QCh. 17 - Prob. 4QCh. 17 - Prob. 5QCh. 17 - Prob. 6QCh. 17 - 7. Why is it necessary to use comparative balance...Ch. 17 - 8. Contrast the advantages and disadvantages of...Ch. 17 - Prob. 9QCh. 17 - Prob. 10Q
Ch. 17 - Prob. 11QCh. 17 - Prob. 12QCh. 17 - Prob. 13QCh. 17 - Prob. 14QCh. 17 - Prob. 15QCh. 17 - Prob. 16QCh. 17 - Prob. 17QCh. 17 - Prob. 18QCh. 17 - Prob. 19QCh. 17 - Prob. 20QCh. 17 - Prob. 21QCh. 17 - Prob. 22QCh. 17 - Prob. 1BECh. 17 - Prob. 2BECh. 17 - Prob. 3BECh. 17 - Prob. 4BECh. 17 - Prob. 5BECh. 17 - Prob. 6BECh. 17 - Prob. 7BECh. 17 - Prob. 8BECh. 17 - BE17-9 Hinck Corporation reported net cash...Ch. 17 - BE17-10 Suppose in a recent quarter, Alliance...Ch. 17 - BE17-11 The management of Morrow Inc. is trying to...Ch. 17 - BE17-12 Suppose Columbia Sportswear Company had...Ch. 17 - Prob. 13BECh. 17 - Prob. 14BECh. 17 - Prob. 1DIECh. 17 - Prob. 2aDIECh. 17 - Prob. 2bDIECh. 17 - Prob. 3DIECh. 17 - Prob. 1ECh. 17 - E17-2 An analysis of comparative balance sheets,...Ch. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Prob. 7ECh. 17 - Prob. 8ECh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 11ECh. 17 - E17-11 Suppose a recent income statement for...Ch. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 1PSACh. 17 - Prob. 2PSACh. 17 - Prob. 3PSACh. 17 - Prob. 4PSACh. 17 - Prob. 5PSACh. 17 - Prob. 6PSACh. 17 - Prob. 7PSACh. 17 - P17-8A Data for Nosker Company are presented in...Ch. 17 - Prob. 9PSACh. 17 - Prob. 10PSACh. 17 - Prob. 11PSACh. 17 - Prob. 17CCCh. 17 - Prob. 2EYCTCh. 17 - Prob. 3EYCTCh. 17 - Prob. 4EYCTCh. 17 - Prob. 5EYCTCh. 17 - Prob. 7EYCTCh. 17 - Prob. 1ISTQCh. 17 - Prob. 2ISTQCh. 17 - Prob. 3ISTQCh. 17 - Prob. 4ISTQCh. 17 - Prob. 5ISTQCh. 17 - Prob. 1IFRECh. 17 - Prob. 2IFRECh. 17 - Prob. 3IFRP
Knowledge Booster
Similar questions
- Please helparrow_forwardThe net income for Mongan Co. for 2022 was $280,000. For 2022, depreciation on plant assets was $70,000, and the company incurred a loss on disposal of plant assets of $28,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Mongan Co. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to $ $ $arrow_forwardHw.130.arrow_forward
- How do I calculate the Free Cash Flow from the following? What would it be?arrow_forwardCurrent Attempt in Progress The net income for Coronado Co. for 2022 was $276,800. For 2022, depreciation on plant assets was $72,800, a company incurred a loss on disposal of plant assets of $30,400. Compute net cash provided by operating activities under the indirect method, assuming there were no other cha company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,0 Coronado Co. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Gain on Disposal of Plant Assets Loss on Disposal of Plant Assets Net Cash Provided by Operating Activities +A $ +A +A $arrow_forwardplease help correctly and completely with all working answer in textarrow_forward
- Attempt in Progress The net income for Bramble Co. for 2022 was $332,200. For 2022, depreciation on plant assets was $72,700, and the company incurred a loss on disposal of plant assets of $30,600. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis eg. (15,000).) Bramble Co. Statement of Cash Flows-Indirect Method Net Income 332200 Adjustments to reconcile net income to $ $ %24 %24 > > >arrow_forwardCompute netcash provided by operating activities-indirect method. Co., reported net income of $2.5 million in 2022. Depreciation for the year was $160, 000, accounts receivable decrease $350,000, and accounts payable decreased $280,000. Compute net cash provided by operating activities using the indirect method.arrow_forwardUse the information provided below to prepare the Cash Flow Statement of Chelsea Limited for the year ended 31 December 2021 using the answer template provided (see images) Additional information: (See images)¦ Selling and administrative expenses include depreciation as follows:Depreciation on buildings R96 000Depreciation on plant and machinery R160 000¦ There were purchases but no disposals of property, plant and equipment for the financial year ended 31 December2021.¦ Total dividends for the year ended 31 December 2021 and 31 December 2020 amounted toR288 000 and R388 000 respectively.¦ Inventories on 31 December 2019 amounted to R560 000.¦ All purchases and sales of inventories were on credit.¦ The number of shares in issue was 400 000.¦ Credit terms from creditors are 90 days.arrow_forward
- REQUIRED Study the statement of cash flows of Mantis Limited for the year ended 31 December 2021 and answer the following questions: Calculate the following for the year ended 31 December 2021: Depreciation Dividends paid Of what significance is this statement of cash flows to the shareholders of Mantis Limited? Comment on the following: Cash flows from operating activities (R181 800) 1.3.2. Increase in inventory (R808 000) Increase in receivables (R606 000) Interest paid (R80 800) Cash flows from investing activities (R2 343 200) INFORMATION MANTIS LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 R Cash flows from operating activities (181 800) Operating profit 979 700 Depreciation ? Profit before working capital changes ? Working capital changes (808 000) Increase in inventory (808 000) Increase in receivables…arrow_forwardhar.1arrow_forward6. based on the images, what is the correct amount that must be disclosed as increase (decrease) in trade payables in the cash generated from operations section of the statement of cash flows of Moletji Limited for the year ended 31 December 2020?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Financial Accounting: The Impact on Decision Make...AccountingISBN:9781305654174Author:Gary A. Porter, Curtis L. NortonPublisher:Cengage Learning
Financial Accounting: The Impact on Decision Make...
Accounting
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Cengage Learning