Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cash Flow from Operating Activities-indirect Method Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for a recent

image text in transcribed
image text in transcribed
Cash Flow from Operating Activities-indirect Method Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp. for a recent year are as follows: 349,340 1,145 Income statement data Net income Gain on disposal of property Depreciation expense Other items involving noncash expenses Balance sheet data 11,545 1,380 Increase in accounts receivable 1,715 1,030 620 Decrease in inventory Increase in prepaid expenses Decrease in accounts payable Decrease in accrued and other current abilities 745 1,025 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the indirect method for National Beverage Corp. Use the minus sign to indicate cash outfiows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above. National Beverage Co. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: . a. Prepare the "Cash flows from operating activities section of the statement of cash nows, using the indirect method for National Beverage Corp. Use the minus sign to Indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Enter the amounts in thousands of dollars, as shown above National Beverage Co. Cash Flows from Operating Activities (in thousands) Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and abilities: bi bil i Net cash flow from operating activities b. The company has on) earnings and net cash flow from operating activities. The increase in accounts receivable indicates in sales. In addition, the company is using its cash to decrease its accounts payable balance, which indicates that the company is Overall, National Beverage is doing financially

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

Auditing Theory And Practice

Authors: Roger H. Hermanson

1st Edition

0256023301, 978-0256023305

More Books

Students also viewed these Accounting questions

Question

Explain the forces that influence how people handle conflict

Answered: 1 week ago