Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If someone can fo 1 and 2 I will be so happy Exercise 4-19B Compare operating cash flows to net income (L04-7) Consider the following

image text in transcribed

image text in transcribed

If someone can fo 1 and 2 I will be so happy

Exercise 4-19B Compare operating cash flows to net income (L04-7) Consider the following information 1 Service Revenue for the year = 580.600. Of this amount, $70,300 is collected during the year and $10,300 is expected to be collected next year 2 Salaries Expense for the year= $40.500. Of this amount $35,300 is paid during the year and $5,300 is expected to be paid next year 3. Advertising Expense for the year = $10,300. All of this amount is paid during the year. 4 Supplies Expense for the year = $4,300. No supplies were purchased during the year 5. Utilities Expense for the year= $12,600. Of this amount $11,300 is paid during the year and $1,300 is expected to be paid next year 6. Cash collected in advance from customers for services to be provided next year (Deferred Revenue) = $2.300 Required: 1. Calculate operating cash flows. (List cash outflows as negative amounts.) $ 2.300 1. Cash collected from customers for services provided 2. Salaries paid for the year 3. Advertising paid for the year 4. Supplies paid for the year 5. Utilities paid for the year 6. Cash collected in advance from customers Net operating cash flows S 2.300 $ 2,300 1. Cash collected from customers for services provided 2. Salaries paid for the year 3. Advertising paid for the year 4. Supplies paid for the year 5. Utilities paid for the year 6. Cash collected in advance from customers Net operating cash flows $ 2,300 2. Calculate net income. (List expenses as negative amounts.) 1. Service Revenue for the year 2. Salaries Expense for the year 3. Advertising Expense for the year 4. Supplies Expense for the year 5. Utilities Expense for the year 6. Deferred revenue Net income $

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

The Design Implementation And Audit Of Occupational Health And Safety Management Systems

Authors: Ron C. McKinnon

1st Edition

1032571039, 978-1032571034

More Books

Students also viewed these Accounting questions

Question

A.5 Explain how to conduct an interview.

Answered: 1 week ago