Decrease in plant and equipment $Decrease in deferred tax asset $Increase in accounts receivable $Net Loss $122,865587,45815,48765,892109,520215,877Increase in inventory $Decrease in short-term debt $Net cash from financing activitiesNet cash from investing activitiesNet cash from operating activities

Cash flow statementThe table or report that shows the cash received and cash payments for a…

Answered: Net Loss $ 122,865 Decrease in plant…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.24MCE

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CURRENT PERIOD CASH FLOWS FROM OPERATING ACTIVITIES Net Profit (Loss) 9734 Adjustments to Net for Non-Cash Expenses Depreciation and Amort 15766 (Gain) Loss on Fixed Assets 0 (Increase) Decrease in Assets Accounts Receivable - Trade Other Accounts Receivable -27695 Inventory Prepaid Expenses 16962 Other Assets Increase (Decrease) in Liabilities Accounts Payable - Trade 23707 Other Liabilities 2582 Net Cash From Operations 41056 CASH FLOWS FROM INVESTING ACTIVITIES Sale (Acquisition) of Fixed As 0 Net Cash From Investing 0 CASH FLOWS FROM FINANCING ACTIVITIES Notes Payable 0 Notes Payable 0 Notes Payable 0 Net Cash From 0 Total Cash Increase (Decrease) 41056 Cash - Beginning of Period 2168786 Cash - End of Period 2209842 Cash Book Balance - End of Perio 2211141 Please Find the mistakes in this cashflow statement.
> Increase in accounts receivable P 300,000 > Decrease in income tax payable > Depreciation > Net income > Gain on sale of equipment > Loss on sale of building 170,000 1,000,000 250,000 440,000 210,000 Net cash flows from operating activities
HYPERINFLATIONARY FINANCIAL STATEMENTSProblem 42. Indicate whether the item is a monetary or non-monetary item:__Cash and Cash Equivalents__Loans and receivables__FAFVPL Bonds Receivables__FAAC Bonds Receivables__Investments in Shares of Stocks__Property, Plant and Equipment__Inventory__Investment Property__Prepaid asset__Intangible asset__Deferred tax asset__Accounts payable__Income tax payable__Deferred tax liability__Interest payable__Unearned revenue__Accrued expenses__Notes payable__Loans payable
You are considering the purchase of a new machine for a project. Details of this potential purchase are provided below. • The project life is 3 years The machine costs $240,000 o You will pay cash for half of this at time 0, and will finance the remaining half at 10% APR compounded annually over 3 years. The machine will be depreciated using a 7 year MACRS approach. Annual O&M costs of the machine are $25,000. Annual labor savings (revenues) are $100,000. Salvage Value at the end of year 3 will be $90,000. Working Capital requirement is initially $50,000. Any investment in Working Capital will be recovered at the end of the project. Assume an income tax rate and gains tax rate of 21%. Your MARR is 15%. NOTE: DO THIS PROBLEM AS A CONSTANT YEAR PROBLEM (I.E. YOU DON'T NEED TO ADJUST FOR THE EFFECTS OF INFLATION) Part (a) (a)). Fill in the Income and Cash Flow tables on the next page to find the annual after-tax cash flows. Cells outlined in BOLD are grading checkpoints. These cells are…
Problem No. 1. Cash Flow from Operating Activities: Profit and Loss Account for the year ended 31st December 2011 Particulars Sales Interest Earned Total Income Material Consumed Other expenses Loss on sale of asset Depreciation Amount in Million (Rs.) Interest & Finance Charges Profit before Tax Provision for income tax Profit after tax Balance Sheet Excerpts as 31st December, on 2011 Inventories Sundry Debtors/Acc. Rec Sundry Creditors/Acc. Pay Provision for tax 487.23 58.45 545.68 246.45 133.18 33.45 93.34 82.11 -42.85 0 -42.85 67.33 96.56 84.78 31st December, 2010 이 45.30 112.65 94.33 4.80
Net cash flows from operating activities P720,000 Decrease in trade payables 23,000 Decrease in financial asset through profit or loss 11,500 Increase in trade receivables 24,600 Cash proceeds from sale of plant (book value of P25,000) 14,000 Increase in allowance for doubtful debts 1,000 What is the profit for the period?
After-Tax Cash FlowsFor each of the following independent situations, compute the net after-tax cash flow amount by subtracting cash outlays for operating expenses and income taxes from cash revenue. The cash outlay for income taxes is determined by applying the income tax rate to the cash revenue received less the cash and noncash (depreciation) expenses. A B C Cash revenue received $92,000 $452,000 $222,000 Cash operating expenses paid 56,000 317,000 147,000 Depreciation on tax return 14,000 32,000 22,000 Income tax rate 40% 30% 20% Do not use negative signs with any of your answers below. A B C Cash revenue Answer Answer Answer Cash outlays: Operating expenses Answer Answer Answer Income taxes Answer Answer Answer Total cash outlays Answer Answer Answer Net after-tax cash flow Answer Answer Answer
Current Attempt in Progress Lee Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5180000 $3979520. $5180000. $6380480. $5706480. 704480 159000 337000 Lee should report cash provided by operating activities of
Prepare Cash flows from Operating Activities > Increase in accounts receivable 300,000 > Decrease in income tax payable > Depreciation > Net income > Gain on sale of equipment > Loss on sale of building 170,000 1,000,000 250,000 440,000 210,000
Net income Depreciation expense Decrease in inventory. Increase in accounts receivable Increase in interest payable. Amortization of bond discount Increase in accounts payable Cash dividends paid Required: Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicat a minus sign.) Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: $194,000 23,000 11,400 1,340 1,540 2,400 6,400 14,000 Net cash flows from operating activities
Using the following information, what is the firm's cash flow from operations? Net Income 170 Decrease in Accounts Receivable 25 Depreciation 50 Increase In Inventory 17 Decrease in Accounts Payable 10 Decrease in Wages Payable 16 Increase in Short Term Deferred Tax Liabilities 37 Gain from the sale of land 13 $226 $176 $152
The following information is available for Felix Company: Net income $300 Decrease in plant and equip. $40 Depreciation expense $20 Increase in deferred tax asset $5 Gain on sale of assets $35 Decrease in long-term debt $50 Increase in inventories Decrease in accounts payable $15 $25 What is cash flow from operating activities for Felix Company? Select one O A. $240 O B. $70 O C. $320 O D. $250

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