Clover Company had a beginning balance in unearned revenue of $4,300 and an ending balance of $3,200.

Question:

Clover Company had a beginning balance in unearned revenue of $4,300 and an ending balance of $3,200. Net income amounted to $54,000. Based on this information alone, determine the amount of net cash flow from operating activities.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamental Managerial Accounting Concepts

ISBN: 978-0078110894

6th Edition

Authors: Edmonds, Tsay, olds

See More Books

Question Posted: Dec 07, 2011 07:03 AM

See More Questions

On November 1, Carlisle Equipment had a beginning balance in the Office Supplies account of $600. During the month, Carlisle purchased $2,300 of office supplies. At November 30, Carlisle Equipment...
Albring Company had a beginning balance in accounts receivable of $12,000 and an ending balance of $14,000. Net income amounted to $110,000. Based on this information alone, determine the amount of...
On November 1, Camden Equipment had a beginning balance in the Office Supplies account of $1,300. During the month, Camden purchased $1,400 of office supplies. At November 30, Camden Equipment had $...
Bhushan Building Supplies entered into the following transactions. Prepare journal entries under the perpetual inventory system. June 1 Purchased merchandise on account from Brij Builders Materials,...
"It is generally appropriate to delete all outliers in a data set that are apparent in a scatter-plot." Do you agree with this statement? Explain.
Solve Prob. 182 if the coefficient of kinetic friction between the spool and plane at A is k = 0.2. Solve Prob. 182 The spool has a mass of 60 kg and a radius of gyration k G = 0.3 m .If it is...
Which major will help me obtain a broad education in business and management?(p. 208)
The Maple Lake branch of Buffalo State Savings Bank (BSSB) is a retail branch in a rapidly growing residential area. It services individuals and local businesses. To support its services, the branch...
The internal rate of return of a standard project is 5.75%, and the project's requried rate of return is 7.75%. The project has a payback of exactly 6 years. From these facts, what can we conclude...
Acquirer Incorporateds management believes that the most reliable way to value a potential target firm is by averaging multiple valuation methods, since all methods have their shortcomings....
Forsyth Company had a beginning balance in utilities payable of $3,300 and an ending balance of $5,200. Net income amounted to $87,000. Based on this information alone, determine the amount of net...
Which of the following activities are financing activities? (a) Payment of accounts payable. (b) Payment of interest on bonds payable. (c) Sale of common stock. (d) Sale of preferred stock at a...
ZIL Inc. operates two divisions, which are treated as investment centers. Data for each division for Year 4 are as follows (in '000s): ....................Division A ..................Division B Net...
Let $N$ be a positive integer. Consider the relation $\circledast$ among pairs of integers $r, s \in \mathbb{Z}$ defined as $r \circledast s$ when $r-s$ is an integer multiple of $N$. Prove that...
Draw a circuit diagram for a typical home hair dryer. To which form (or forms) of energy is electric potential energy converted when you use the dryer?
Draw a vector field diagram for particles carrying charges $+2 q$ and $-q$ separated by a distance $r$. Comment on the significance of the vector diagram.
(a) Show that the Jones matrix of a polarization analyzer set at angle $\alpha$ to the $X$-axis is given by \[ \underline{\mathbf{L}}(\alpha)=\left[\begin{array}{cc} \cos ^{2} \alpha & \sin...
Let $\mathbf{V}(t)$ be a linearly filtered complex-valued, wide-sense stationary random process with sample functions given by \[ \mathbf{v}(t)=\int_{-\infty}^{\infty} \mathbf{h}(t-\tau)...
On 1 January 20X1 a company had in issue 6 million 1 equity shares and 7.5 million of 7% convertible redeemable loan stock, on which the conversion terms were: LO5 On 31 December 20X4 40 equity...
Give the products of the following reaction, where T is tritium: dioldehydrase Ad- CH CH3C-COH CoIII) coenzyme B12
In a world in which there are fixed minimum needs for survival, show that an application of the relative income principle runs into problems. How would you try and modify the principle to circumvent...
Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $45,000 of cleaning services on...
Grover Inc. uses the allowance method to account for uncollectible accounts expense. Grover Inc. experienced the following four accounting events in Year 1: 1. Recognized $92,000 of revenue on...
Joeys Bike Shop sells new and used bicycle parts. Although a majority of its sales are cash sales, it makes a significant amount of credit sales. During Year 1, its first year of operations, Joeys...
The following amounts were reported on the December 31, 2022, balance sheet: Cash $ 8,000 Land 20,000 Accounts payable 15,000 Bonds payable 120,000 Merchandise inventory 30,000 Retained earnings...
Sandhill Co. issued $ 600,000, 10-year, 8% bonds at 105. 1.Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when the...
Based on the regression output (below), would you purchase this actively managed fund with a fee of 45bps ? Answer yes or no and one sentence to explain why.

Clover Company had a beginning balance in unearned revenue of $4,300 and an ending balance of $3,200.

Question:

Step by Step Answer:

Since the ending balance of unearned revenue was less than t...View the full answer

Fundamental Managerial Accounting Concepts

Students also viewed these Managerial Accounting questions