Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have two accounting question that I need help with. The questions are attached and are straight forward. Thank you. CP12-2 Finding Financial Information LO12-2,

image text in transcribed

I have two accounting question that I need help with. The questions are attached and are straight forward. Thank you.

image text in transcribed CP12-2 Finding Financial Information LO12-2, 12-4, 12-6 Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Does Urban Outfitters use the direct or indirect method to report cash flows from operating activities? 2. What amount of tax payments did the company make during the most recent reporting year? (Hint: The statement of cash flows may be helpful to answer this question.) 3. Explain why the \"share-based compensation\" and \"depreciation and amortization\" items were added in the reconciliation of net income to net cash provided by operating activities. 4. Has the company paid cash dividends during the last three years? How do you know? 5. What was free cash flow for the year ended January 31, 2012? (Dollars in thousands.) Cash Flows from Free Cash Flow: CP12-2 Finding Financial Information LO12-2, 12-4, 12-6 Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Does Urban Outfitters use the direct or indirect method to report cash flows from operating activities? 2. What amount of tax payments did the company make during the most recent reporting year? (Hint: The statement of cash flows may be helpful to answer this question.) Tax payments of $120,847 thousand were made (located near the bottom of the Statement of Cash Flows). 3. Explain why the \"share-based compensation\" and \"depreciation and amortization\" items were added in the reconciliation of net income to net cash provided by operating activities. 4. Has the company paid cash dividends during the last three years? How do you know? 5. What was free cash flow for the year ended January 31, 2012? (Dollars in thousands.) Cash Flows from Free Cash Flow: CP10-2 Finding Financial Information LO10-1, 10-2 Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Unlike most companies, Urban Outfitters does not report the amount of interest paid in cash during the most recent reporting year. Explain why you think the company has omitted this information. 2. Explain why the company does not report bonds payable on its balance sheet. 3. Describe the company's established arrangements, if any, that permit it to borrow money if needed. CP10-2 Finding Financial Information LO10-1, 10-2 Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book. Required: 1. Unlike most companies, Urban Outfitters does not report the amount of interest paid in cash during the most recent reporting year. Explain why you think the company has omitted this information. 2. Explain why the company does not report bonds payable on its balance sheet. 3. Describe the company's established arrangements, if any, that permit it to borrow money if needed. The notes disclose that the company has established an unsecured line of credit

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

Intermediate Accounting

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

2nd edition

134730372, 134730370, 978-0134730370

More Books

Students also viewed these Accounting questions

Question

What are some of the topics studied?

Answered: 1 week ago