*I NEED THESE ANSWERED AS SOON AS POSSIBLE PLEASE! THANK YOU!! 1) Cash flow per
ID: 2394578 • Letter: #
Question
*I NEED THESE ANSWERED AS SOON AS POSSIBLE PLEASE! THANK YOU!!
1)Cash flow per share is
a)required to be reported on the balance sheet
b)required to be reported on the statement of cash flows
c)not required to be reported on any statement
d)required to be reported on the income statement
2)Selected data for the current year ended December 31 are as follows:
During the current year, the cost of merchandise sold was $620,000 and the operating expenses other than depreciation were $142,000. The direct method is used for presenting the cash flows from operating activities on the statement of cash flows.
Determine the amount reported on the statement of cash flows for the following:
Cash payments for merchandise:
Cash payments for operating expenses
3)The net income reported on the income statement for the current year was $283,283. Depreciation recorded on fixed assets and amortization of patents for the year were $31,297 and $8,443, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
a) 302,927
b) 355,023
c) 275,561
d) 287,905
4) A company had net income of $264,505. Depreciation expense is $26,728. During the year, accounts receivable and inventory increased by $15,902 and $39,699, respectively. Prepaid expenses and accounts payable decreased by $3,720 and $6,907, respectively. There was also a loss on the sale of equipment of $6,281. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
a)$297,514
b)$276,904
c)$238,726
d)$226,164
5) A company reports the following income statement and balance sheet information for the current year:
Determine the rate earned on total assets. Round the percentage to one decimal place.
6)Companies may report comprehensive income on each of the statements below except
a)statement of cash flows
b)income statement
c)retained earnings statement
d)separate statement of comprehensive income
BalanceDecember 31 Balance
January 1 Accrued expenses (operating expenses) $29,500 $22,000 Accounts payable (merchandise creditors) 90,000 135,000 Inventories 42,500 68,000 Prepaid expenses 23,000 20,000
Explanation / Answer
Solution 1:
Cash flow per share is not required to be reported on any statement. Hence option c is correct.
Solution 2:
Solution 3:
Hence option d is correct.
Solution 4:
Hence option c is correct.
Note: As multiple questions are posted, i have answered more than required question as per chegg policy, kindly post separate question for answer of remaining.
Computation of cash paid for Merchandise Particulars Amount Cost of Goods Sold $620,000.00 Add: Ending inventory $42,500.00 Less: Beginning inventory $68,000.00 Purchases made during the year $594,500.00 Add: Opening accounts payable $135,000.00 Less: Ending accounts payable $90,000.00 Cash paid for Merchandise $639,500.00Related Questions
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