ABC Company had the following income statement on 31.12.2020 Depreciation OMR 12000 Net Profit OMR 148000 The following accounts decreased during 2020: Accounts receivable OMR 20000 Inventory OMR18000 Rent payable OMR17000 Machinery OMR 25000 The following accounts increased during 2020: Notes receivable OMR 15000 Account payable OMR 18000 Bonds payable OMR 20000 What is the net cash flows from operating activities? Select one: O a. OMR 189000 O b. None of the options O c. OMR 184000 d. OMR 136000
Q: FIZER, INC. Balance Sheet as of December 31, 2020 Cash Accounts receivable $ 14,386 Accounts payable…
A: The balance sheet include: Assets accounts Liabilities accounts Owner's capital accounts Income…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 15000 Net income 110000…
A: Deprecation = 15000 Net income =110000 OMR Decreased during 2020: Accounts receivable = 24000…
Q: The following information is available for Oriole Company for the year ended December 31, 2022.…
A: Cash Flow Statement is prepared to analysis, measure and interpret the cash inflows and cash…
Q: FIZER, INC. Balance Sheet as of December 31, 2020 Cash Accounts receivable $ 14,386 Accounts payable…
A: Since you have a question with multiple sub-parts , we will do the first three sub-parts for you. To…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 15000 Net income 95000…
A: Net income = 95000 Depreciation = 15000 Decrease in Accounts receivable = 18000 Decrease in…
Q: ABC Company had the following income statement on 31.12.2020 Deprecation OMR 15000 Net Profit OMR…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Sheffield Corp. reported net income of $193,100 for 2019. Sheffield also reported depreciation…
A: Given the following information: Net Income: $193,100 Depreciation expense: $45,100 Loss on…
Q: Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of…
A: Operating activities forms part of cash flow statements and it forms all the activities related with…
Q: Sohar Co. had the following information in 2020: Sales COGS Operating expenses (including…
A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…
Q: The following is a list of items for K Company's 2019 statement of cash flows: receipt from sale of…
A: Cash flow statement shows all the cash transactions made by the company during the year.
Q: Use the information provided below to prepare the Cash Flow Statement of Umhlali Limited for the…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: The following information was obtained from Galena Company's Comparative Balance Sheets. Assume…
A: Cash flow statement shows the cash coming in and going out of business by subdividing in three major…
Q: Shamrock Corporation had the following 2020 income statement. Sales revenue $192,000 Cost of…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Waterway Company has not yet prepared a statement of cash flows for the 2020 fiscal year.…
A: Cash flow statement is one of the financial statement which shows details about all cash inflows and…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Bonita Corporation had the following 2020 income statement. Sales revenue $198,000 Cost of goods…
A: Cash flow statement: It is a statement which reports the cash inflows and outflows of a business…
Q: Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation…
A: Introduction: Statement of cash flows: All cash in and out flows are recorded in statement of cash…
Q: Splish Company reported 2020 net income of $154,400. During 2020, accounts receivable increased by…
A: Cash flows from Operating activities: In this all cash in and out transactions related to Operations…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 12000 Net income 85000…
A: Cash flows from operating activities is an important section in Cash Flow statement which shows all…
Q: Gutierrez Company reported net income of $193,200 for 2020. Gutierrez also reported depreciation…
A: Cash flows from operating activities: Cash flows from operating activities is a section of cash flow…
Q: Khareef Salalah Company reported the following information for the year 2020: Net income RO 24,600;…
A: Cash flow statement includes: Cash flows from operating activities Cash flows from investing…
Q: Depreciation OMR 12000 Net Profit OMR 148000 The following accounts decreased during 2020: Accounts…
A: Any changes in machinery account is part of cash flow from investing activities. So it is not…
Q: Sohar Co. had the following information in 2020: Sales 180000 COGS 80000 Operating expenses…
A: Activities under the Cash flow statement are: Cash flow from operating activities Cash flow from…
Q: Dicksen Company’s income statement for the year ended December 31, 2022 reported profit of P360,000.…
A: Net cash provided by operating activities means net cash inflow from normal activities of an entity.…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 150000…
A: The cash flow statement is an essential part of the financial statements of the organization. It is…
Q: Bramble Corporation had the following 2020 income statement. Sales revenue $182,000 Cost of…
A: Financial statements are those statements which are prepared at the end of accounting cycle period.…
Q: Current Attempt in Progress During 2020 the Cullumber Company had a net income of $85200. In…
A:
Q: Crane Company reported net income of $148,500. For 2020, depreciation was $45,100, and the company…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: Flint Corporation reported net income of $47,200 in 2020. Depreciation expense was $17,000. The…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Consider the following statement of cash flows for Chicken Fil-A company. (in thousands) Cash flows…
A: Ans- Option C - $ 18400 Working Total Cash Inflows for 2019 = Cash inflow from Operating activities…
Q: KLM Co. had the following information in 2020: Issuance of common stock 32000 Payment of dividends…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: KLM Co. had the following information in 2020: Issuance of common stock 32000 Payment of dividends…
A: An indirect method of preparing cash flow statements is to adjust the net income with changes in…
Q: Aqua Ltd has operating profit for the year ended 30 June 2020 of £56,300, after charging…
A: Cash flow from Operating Activities = Net Profit + Depreciation (+/-) Changes in Working Capital
Q: Gutierrez Company reported net income of $190,400 for 2020. Gutierrez also reported depreciation…
A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…
Q: FIZER, INC. Balance Sheet as of December 31, 2020 $ 14,386 Accounts payable 21,091 22,762 Cash…
A:
Q: Crane, Inc. reported net income of $2.65 million in 2022. Depreciation for the year was $169,600,…
A: Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…
Q: . had the following information in 2020: Sales 180000 COGS 80000 ast ... Operating expenses…
A: A cash flow statement is a financial statement that shows the amounts of cash and cash equivalents…
Q: XYZ Co. had the following information in 2020: Sales 150000 COGS 80000 Operating expenses (excluding…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Calculate cash flows from operating activities Select one:
A: Answer: Cash flow from operating activites cosnsists of cash flows from a transaction that affects a…
Q: Oriole, Inc. reported net income of $2.60 million in 2022. Depreciation for the year was $166,400,…
A: The cash flow from operating activities includes the cash flow from day to day transactions of the…
Q: ABC Co. had the following activities in 2020:Issue of common stock OMR 28000 Increase in receivables…
A: Issue of common stock = OMR 28000 Increase in receivables = OMR 16000 Decrease in Land = OMR 75000…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: Operating Cash Flow = Operating Income + Depreciation – Taxes + Change in Working Capital.
Q: The BCD Company had the following income statement on 31.12.2020 Deprecation 10000 Net income 190000…
A: Cash flow statement: It is a financial statement that record the cash related transactions to…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000…
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…
Q: Cheyenne Corp. reported net income of $79200 for the year 2022. During 2022, accounts receivable…
A: Cash flows from operating activities evaluate the Cash Inflow and Cash Outflow from the daily…
Q: MBA Company had the following income statement in 2019: depreciation OMR20000, net income…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: Ashford's Company has an accrual basis net income of $270,000 in 2019 and the following related…
A: Cash flow from operating activities: This section of cash flow statement provides information…
Q: Shamrock Corporation had the following 2020 income statement. Sales revenue $211,000 Cost of goods…
A: Solution:- Preparation of Cash Flows from Operating Activities using direct method as follows…
Q: The XYZ Company had the following income statement on 31.12.2020 Deprecation 12000 Net income 85000…
A: Flow of cash from operating activities- It is flow of that amount of cash which is received and paid…
Step by step
Solved in 2 steps with 1 images
- Sohar Co. had the following information in 2020: Sales 180000 COGS 80000 ast ... Operating expenses (including depreciation) Depreciation expense Interest expense ber... 32000 4200 en... 9000 ... ... Taxes 4000 Increase in Accounts receivable 7000 [p Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 4000 5000 4500 2300 2000 Prepare operating cash flows using direct method.The following information was taken from the accounts receivable records of Monty Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $156,000 0.5% 31 – 60 days outstanding 65,400 2.5% 61 – 90 days outstanding 40,000 4.0% 91 – 120 days outstanding 20,800 6.5% Over 120 days outstanding 5,100 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,280 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $4,010 prior to the…The following information was taken from the accounts receivable records of Pina Colada Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $154,000 0.5% 31 – 60 days outstanding 63,200 2.5% 61 – 90 days outstanding 39,100 4.0% 91 – 120 days outstanding 21,600 6.5% Over 120 days outstanding 5,300 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,170 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $3,990 prior to…
- The following information was taken from the accounts receivable records of Pina Colada Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $154,000 0.5% 31 – 60 days outstanding 63,200 2.5% 61 – 90 days outstanding 39,100 4.0% 91 – 120 days outstanding 21,600 6.5% Over 120 days outstanding 5,300 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,170 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $3,990 prior to…The financial statements of the Sheffield Corp. reports net sales of $690150 and accounts receivable of $98000 and $31000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Sheffield Corp.? O 22.3 times O 5.4 times O 7.0 times O 10.7 timesفاطمة غبشان أمس 4:41 م The XYZ Company had the following income statement on 31.12.2020 Deprecation 12000 Net income 85000 OMR The following accounts decreased during 2020: Accounts receivable 18000 inventory 22000 OMR, Rent payable 6000, Machinery 15000 OMR The following accounts increased during 2020:Notes receivable 12000 Accounts Payable 11000 long term Bonds payable 30000 OMR Calculate cash flows from operating activities اخترأحد الخیارات a. 149000 OMR O b. 145000 OMR O c. 130000 OMR d. NONE OF THESE
- The following data are taken from the financial statements of Sheffield Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) X Your answer is incorrect. 2022 $555,000 3,997,500 2021 $470,000 3,122,250 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $435,000. (Round answers to 1 decimal place, e.g. 1.6.)Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)WOODPECKER CORP. reported profit of P800,000 in 2018 under cash basis. The following items are relevant in converting the cash basis profit into accrual basis. Inventory, January 1 P1,000,000 Inventory, December 31 600,000 Receivables, January 1 300,000 Receivables, December 31 900,000 Payables increased by 500,000 How much is the profit under accrual basis of accounting? A. P500,000 B. P600,000 C. P700,000 D. P400,000
- Calculate the activity and liquidity ratios for P for the year ended 31 December 20X9. Revenue Gross profit Inventory Trade receivables Trade payables Cash Short-term investments Other current liabilities $m 1,867.5 489.3 147.9 393.4 275.1 53.8 6.2 284.3 Current ratio= Current assets Current liabilities Inventory days Inventory days = inventory+ cost of sales × 365 Receivable days Receivable days - receivables + credit sales x 365 Payable days Payable days = payables ÷ credit purchases x 365.The following information was taken from the accounts receivable records of Sarasota Corporation as at December 31, 2020: OutstandingBalance Percentage Estimatedto be Uncollectible 0 – 30 days outstanding $160,000 0.5% 31 – 60 days outstanding 66,000 2.5% 61 – 90 days outstanding 40,200 4.0% 91 – 120 days outstanding 20,600 6.5% Over 120 days outstanding 5,600 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,200 prior to the adjustment (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $3,880 prior to the adjustment.This year Last year 1050 Assets Cash 1530 Marketable securities Accounts receivable Inventories Total current assets 1810 1220 2050 1770 2900 2790 8290 6830 Gross fixed assets 29480 28090 Less: Accumulated depreciation 14680 13140 Net fixed assets 14800 14950 Total assets Liabilities and Stockholders' Equity 23090 21780 Accounts payable Notes payable Accruals 1560 1540 2760 2160 190 350 Total current liabilities 4510 4050 Long-term debt Common stock Retained earnings Total stockholders' equity 5220 4970 9950 9950 3410 2810 13360 12760 Total liabilities and stockholders' equity 23090 21780