Prepare the operating activities section of the statement of cash flows for Peach Computer using the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $105,000 45,300 78,000 $1,080,000 590,000 53,000 43,000 3,300 48,000 5,300 2023 $86,500 50,500 56,500 5,600 38,500 11,500 $1,875,000 1,766,000 $109,000 Increase (I) or Decrease (D) $18,500 (I) 5,200 (D) 21,500 (I) 2,300 (D) 9,500 (I) 6,200 (D) Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $105,000 45,300 78,000 $1,080,000 590,000 53,000 43,000 3,300 48,000 5,300 2023 $86,500 50,500 56,500 5,600 38,500 11,500 $1,875,000 1,766,000 $109,000 Increase (I) or Decrease (D) $18,500 (I) 5,200 (D) 21,500 (I) 2,300 (D) 9,500 (I) 6,200 (D)
Expert Answer:
Answer rating: 100% (QA)
Cash flow through Operating Activities is given in the table belo... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
Students also viewed these finance questions
-
a. Explain, how to improve maintenance and reliability of a system? b. What are the advantages and disadvantages of breakdown, preventive and predictive maintenance strategies? c. What is the...
-
Adewale Ogunleye was the founder and CEO of Fintop Advisors (Fintop), a technology development firm that specialized in supporting early stage financial technology (fintech) companies. Fintop...
-
Sheridan Co. reports revenues of $201,000 and operating expenses of $110,000 in its first year of operations, 2025. Accounts receivable and accounts payable at year-end were $70,300 and $29,300,...
-
How are direct and indirect materials costs distinguished?
-
During December, Barnett Auction Co. completed the following transactions: Barnett's business uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Accounts Payable, Notes Payable,...
-
A firm has three investment alternatives. Payoffs are in thousands of dollars. a. Using the expected value approach, which decision is preferred? b. For the lottery having a payoff of $100,000 with...
-
You are the senior on the audit of Kootenay Real Estate Holdings Ltd., a company listed on the Canadian Ven ture Exchange whose year end is December 31. As you com plete your audit and prepare your...
-
The accountant of Weatherspoon Shoe Co. has compiled the following information from the companys records as a basis for an income statement for the year ended December 31, 2012. Rent revenue $ 29,000...
-
Search the internet and find a company that has committed fraud. Make sure that you select a company-specific to Accounting . In your initial post answer the following: What fraudulent activity the...
-
The proposed rates were not in the range the CEO expected given the pricing analysis. The CEO has asked the pricing actuary to verify the total projected loss cost excluding potential large storm...
-
1. Write a recursive method that counts the number of bowling pins given the number of pins in the back row: public static int numPins (int num) numPins (0) 0 numPins (1) numPins(2) 1 3
-
If one liter of a solution has 214.4 g of salt dissolved in it, how many grams of salt are dissolved in 750.0 mL of the solution? Express your answer in grams using the correct number of significant...
-
You have an opportunity to make an investment that will pay $500 at the end of the first year, $500 at the end of the second year, $200 at the end of the third year, $400 at the end of the fourth...
-
Briefly describe the Enrolled Bill Doctrine ("EBD") and its use at the federal and state levels. Question 2: State your views as to the desirability of the EBD. Should it be used uniformly and...
-
Think about crisis management such as one of a hypothetical school shooting. Assume you are on the school board, and you have small children in the school system. Discuss how you would need to keep...
-
Emily Strong died in an accident on June 3 0 , Year 1 . Her Will provided that all liabilities and expenses were to be paid and that the property was to be distributed as follows: 1 ) Personal...
-
VVH has a serious problem: A major strategic objective of the health system was to grow its ambulatory care network, but the organization is facing a number of challenges. Although a new billing...
-
What is the role of business risk analysis in the audit planning process?
-
How does the conventional retail method approximate the lower- of- cost- or- market valuation? What is the impact on ending inventory ?
-
Answer the following questions using the information provided in E9- 4. Required Prepare the journal entries required to record each of the following events. a. The bad debt provision for the current...
-
The pretax financial income and taxable income of Zeus Corporation were the same for the following years (i. e., there were no permanent or temporary differences): What amount of income tax benefit...
-
A purchase of merchandise for $300 with a trade discount of 10% would require a debit to Purchases of (a) $330. (c) $297. (b) $300. (d) $270.
-
A trade discount is a reduction from the list or catalog price offered to different classes of customers. True/False
-
Purchases Returns and Allowances is debited when merchandise is returned for credit. True/False
Study smarter with the SolutionInn App