The 2015 accounting records of Blocker Transport reveal these transactions and events. Instructions Prepare the cash flows
Question:
Instructions
Prepare the cash flows from operating activities section using the direct method. (Not all of the items will beused.)
Transcribed Image Text:
Payment of interest Cash sales Receipt of dividend revenue Payment of income taxes Net income Payment of accounts payable 10,000 48,000 18,000 12,000 38,000 Collection of accounts receivable $182,000 Payment of salaries and wages 53,000 16,000 12,000 Purchase of equipment for cash 22,000 3,000 14,000 Payment of operating expenses 28,000 Depreciation expense Proceeds from sale of vehicles Loss on disposal of vehicles for merchandise Payment for land 15,000 Paymet of dividends 74,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Cash flows from operating activities Cash receipts from Customers 2300...View the full answer
Answered By
Kamalakar Kapase
I am an Assistant Professor of commerce at B.Y.K College, College Rd, Nashik, Maharashtra 422005. My highest qualification is SET. I have completed my masters in advance accounting & taxation. Recently I have completed my diploma in taxation law. Currently I am pursuing PHD in business Administration.
I am in this profession of teaching from last 3 years. Every time whenever I am going to teach a class as a part of this noble profession .....I am learning also. I am trying consistently ....how to represent, interpret, summarize and rethink about the whole concept I wish to teach or rather inspire my students in a specific period of time assigned to me.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
The 2014 accounting records of Blocker Transport reveal these transactions and events. Instructions Prepare the cash flows from operating activities section using the direct method. Payment of...
-
The 2020 accounting records of Blocker Transport reveal these transactions and events. Instructions Prepare the cash flows from operating activities section using the direct method. (Not all of the...
-
The 2017 accounting records of Blocker Transport reveal these transactions and events. Instructions Prepare the cash flows from operating activities section using the direct method. (Not all of the...
-
Madison Company and Orwell Corporation are competitors. Compare the two companies by converting their condensed income statements to common-size statements. Which company earned more net income?...
-
Predict the sign of Ssys for each of the following processes: (a) Molten gold solidifies. (b) Gaseous Cl2 dissociates in the stratosphere to form gaseous Cl atoms. (c) Gaseous CO reacts with gaseous...
-
What happens in a universe in which there is no gravitational force? This situation would correspond to forceTo () in Body always returning the zero vector.
-
Repeat Example \(15-8\) but for a pressure of \(1.1 \mathrm{~atm}\). Note that the diffusivities depend on pressure. Also answer Problem 15.A6. Example 15-8 Problem 15.A6 In Problem \(15 . \mathrm{H}...
-
Evaluating strategies on a continuous rather than a periodic basis is desired. Discuss the pros and cons of this statement.
-
In the condensed financial statements part of this assignment, you will use the company's Securities and Exchange Commission (SEC) 2022 10-K filing to build a condensed version of the balance sheet...
-
The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price decreases, demand increases and vice versa. One major...
-
An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Wellman Corp. uncovered the following items. Assume all items involve cash unless...
-
The following information is taken from the 2015 general ledger of Swisher Company. Instructions In each case, compute the amount that should be reported in the operating activities section of the...
-
As the controller of Select Cleaning Services, you discover a significant error in the previous year's financial statements. Two journal entries for services provided on account were recognized in...
-
The objective of the assignment is exposing the students to new sustainable technologies ( products , processes , software, etc. ) and the Life Cycle Analysis of Such technologies. The students will...
-
Given: The state of stress at a point is represented by the element shown below. Required: a) Draw Mohr's circle. b) Calculate the principal stresses using the stress transformation equations. c)...
-
Selling expenses Direct labor Interest expense Manufacturing overhead, actual Raw materials used Administrative expenses $ 159,200 304,000 40,900 112,240 484,000 115,100 During the month, 18,600...
-
Using the FCFS (first come, first served) decision rule for sequencing the jobs, the order is: Sequence 1 2 3 4 5 Job The total flow time for the sequence developed using the FCFS rule = to two...
-
The firm of Bracken Ridge Accounting Services is a prominent accounting firm based in Bracken Ridge, Brisbane. The firm provides financial accounting, business planning and auditing services. You are...
-
What is the purpose of interaction overview diagrams?
-
Air pollution generated by a steel mill is an example of a) a positive production externality. b) a negative production externality. c) a public good. d) the free-rider problem. State and local taxes...
-
The network impedance matrix ( \(\left[\mathrm{Z}_{\mathrm{Bus}}ight]\) ) and the result of load flow simulation problem are presented in the following. If a capacitor with the reactance of \(3.4 p ....
-
Jacobsen Corporation had the following stockholders equity accounts on January 1, 2010: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par Value $200,000, and Retained Earnings...
-
The stockholders equity accounts of Neer Corporation on January 1, 2010, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 400,000 Common Stock ($1 stated value,...
-
Vargas Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $3 par value common stock . On January 1, 2010, the ledger contained the following...
-
Cartman & Stan, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land six years ago for $3.7 million in anticipation of using it...
-
Shinedown Company needs to raise $ 1 5 0 million to start a new project and will raise the money by selling new bonds. The company will generate no internal equity for the foreseeable future. The...
-
2. It is now March 1, 2006. You will deposit $1,000 today into a savings account that pays 8.5 percent. If the bank compounds interest quarterly, how much will you have in your account on March 1,...
Study smarter with the SolutionInn App