Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 alaterCoalville Companys financial statements show the following items:Insurance expense$ 3 2 , 0 0 0 Cost of goods sold$ 8 0 , 0 0

1alaterCoalville Companys financial statements show the following items:Insurance expense$32,000Cost of goods sold$80,000Inventory decrease$36,000Gain on sale of equipment$13,000Prepaid insurance decrease$22,000Interest revenue$50,000Sales$200,000Dividends (declared and paid)$40,000Accounts payable decrease$18,000Interest receivable increase$26,000Depreciation expense$25,000Coalville has no other revenues or expenses. What is Coalvilles net cash flow from OPERATING activities?* $178,000* $68,000* $128,000* $112,000* $138,000* $102,000* $152,000* $108,0001blaterThe financial statement data below are for Wolf Creek Company.Income StatementSales$700Cost of goods sold(450)Depreciation expense(100)Net income$150Balance SheetEndingBeginningAccounts receivable70100Inventory150220Accounts payable2510Compute Wolf Creek Companys OPERATING CASH FLOW for the year.* $350 inflow* $365 inflow* $250 inflow* $305 inflow* $225 inflow* $335 inflow* $295 inflow1claterThe following information is from the balance sheet and income statement of Lewiston Company. Using the information, compute CASH COLLECTED FROM CUSTOMERS.Sales$4,000Cost of goods sold1,700Interest expense350Depreciation expense800Net income$1,150Adjustments:a. Interest payable DECREASED by $60.b. Accounts receiveable DECREASED by $290.c. Inventory INCREASED by $500.d. Accounts payable DECREASED by $130. Note all accounts payable related to inventory purchases.Using the information, compute CASH COLLECTED FROM CUSTOMERS.* $3,870* $4,130* $4,160* $4,290* $3,7101D The following information is from the balance sheet and income statement of Duchesne Company.Increase in accounts receivable$300Decrease in income taxes payable170Depreciation1,000Net income250Gain on sale of equipment440Loss on sale of building210Using the information, compute cash flow from OPERATING activities. Note: With the limited information given, only the indirect method can be used.* $550* $780* $1,010* $330* $120

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What The Numbers Mean

Authors: David Marshall

13th Edition

1264126743, 9781264126743

More Books

Students also viewed these Accounting questions

Question

5. It is the needs of the individual that are important.

Answered: 1 week ago