Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cash $35,200 $32,000 Accounts receivable 33,000 29,900 Inventory 31,300 47,000 Property, plant, and equipment 99,500 94,500 Unamortized bond discount 4,500 5,000 Cost of goods

image

Cash $35,200 $32,000 Accounts receivable 33,000 29,900 Inventory 31,300 47,000 Property, plant, and equipment 99,500 94,500 Unamortized bond discount 4,500 5,000 Cost of goods sold 248,500 383,100 Selling expenses 141,200 171,000 General and administrative expenses 137,900 152,000 Interest expense 4,400 2,600 Income tax expense 20,400 60,800 $755,900 $977,900 Credits Allowance for doubtful accounts $1,300 $1,200 Accumulated depreciation-plant assets 16,300 14,800 Accounts payable 24,800 15,600 Income taxes payable 21,000 29,000 Deferred tax liability 5,400 4,700 8% callable bonds payable 44,800 20,000 Common stock 50,200 40,000 Paid-in capital in excess of par 9,000 7,500 Retained earnings 45,000 64,300 Sales revenue 538,100 780,800 $755,900 $977,900 Additional information: 1. Oriole purchased $5,000 in equipment during 2025. 2. Oriole allocated one-third of its depreciation expense to selling expenses and the remainder to general administrative expenses. 3. Bad debt expense for 2025 was $5,000, and write-offs of uncollectible accounts totaled $4,900. Determine what amounts Oriole should report in its statement of cash flows for the year ended December 31, for the following items. a. Cash collected from customers. b. Cash paid to suppliers. C. Cash paid for interest.

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

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions

Question

=+a) What is the mean number of stops per hour?

Answered: 1 week ago