part 1:

a.) $81,100

b.) $119,100

c.) $28,900

d.) 65,100

part 2

a.) $65,500

b.) $68,850

c.) $59,800

d.) $73,300

part 3

a.) $103

b.) $145

c.) $179

d.) ($33)

part 4

Cridberg Corporation's selling and administrative expenses for last year totaled $290,000. During the year the company's prepaid expense account balance increased by $33,000 and accrued liabilities decreased by $27,000. Depreciation for the year was $55,000. Based on this information, selling and administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows would be:

a.) $285,000

b.) $405,000

c.) $175,000

d.) $295,000

part 5

Last year Anderson Corporation reported a cost of goods sold of $111,000. The company's inventory at the beginning of the year was $13,200, and its inventory at the end of the year was $22,300. The prepaid expense account increased by $3,100 between the beginning and end of the year, and the accounts payable account decreased by $5,100. Cost of goods sold adjusted to the cash basis under the direct method would be:

a.) $102,800

b.) $119,200

c.) $125,200

d.) $123,200

part 6

The ending balance of accounts receivable was $79,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $364,000. Sales reported on the income statement were $393,000. Based on this information, the beginning balance in accounts receivable was:

a.) $108,000

b.) $29,000

c.) $109,000

d.) $50,000

Norbury Corporation's net income last year was $47,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable $18,000 $(4,500) $13,500 $33,000 $17.500 $(9,000) $ 3,600 Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be The data given below are from the accounting records of the Kuhn Corporation: Net Income (accrual basis) Depreciation Expense Decrease in Accounts Payable Decrease in Inventory Increase in Bonds Payable Sale of Common Stock for cash Increase in Accounts Receivable $52,000 $12,500 $ 2,850 $ 3,350 $13,500 $30,700 $ 5,200 Based on this information, the net cash provided by (used in) operating activities using the indirect method would be: Alcoser Corporation's most recent balance sheet appears below. Comparative Balance Sheet Ending Beginning Balance Balance $105 58 78 654 258 $637 Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and equity $ 46 61 115 561 231 $552 $ 66 42 27 254 100 148 $637 $ 75 41 53 225 94 64 $552 Net income for the year was $112. Cash dividends were $28. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities for the year was