Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] The following information applies to the questions displayed below.) Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance $118,400 Beginning Balance $142,300 101, 200 115,000 358 500 322,000 93,900 126,100 1338,400 333,000 111,000 222,000 $560,400 $ 73,600 80, 500 241,500 $ 600,000 $130,700 72.00 115,000 57,100 138,000 161,000 138,000 130,700 139,000 $560,400 $600,000 During the year, Ravenna paid a $13,800 cash dividend and it sold a plece of equipment for $6,900 that had originally cost $16,200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 15-2 (Algo) 2. What net income would the company include on its statement of cash flows? Net income Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] [The following Information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Connon stock Retained earnings Total liabilities and stockholders' equity Ending Balance $118,400 Beginning Balance $142,300 93,900 101,20 126.100 115.000 338,400 35854 Daneee 111,000 222,000 24% $560,400 $ 73.600 $ 600,000 57.100 138,000 161,000 130,700 $560,400 139 $600,000 During the year. Ravenna paid a $13,800 cash dividend and it sold a piece of equipment for $6.900 that had originally cost $16,200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of Its own common stock during the year. Foundational 15-3 (Algo) 3. How much depreciation would the company add to net Income on its statement of cash flows? Depreciation ! Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] The following information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Retained earnings Common stock Total liabilities and stockholders' equity Ending Balance $118,400 Beginning Balance $142,300 93,900 101,200 126,100 115,000 338,400 358 500 111,000 222,000 $560,400 $ 73,600 57.100 322,000 241,500 5 Gee,000 $ 130,700 72460 138,000 115,000 161,00 118,000 130,700 139.00 $560,400 $ 600,000 During the year. Ravenna paid a $13,800 cash dividend and it sold a plece of equipment for $6,900 that had originally cost $16,200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 15-5 (Algo) 5-a. What is the amount and direction (-or-) of the accounts receivable adjustment to net Income in the operating activities section of the statement of cash flows? 5-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Req SA Req 58 What is the amount and direction (+ or -) of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows? Amount Req 5B > Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] [The following Information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance Beginning Balance $118,400 $142,300 93,900 101,200 126,100 115,000 338,400 358,500 333,000 322,000 111,000 80,500 222,000 $560,400 $ 73,600 57,100 138,000 241,500 $ 600,000 $ 130,700 77,300 115,000 161,000 138,000 130,700 139,000 $560,400 $ 600,000 During the year, Ravenna paid a $13,800 cash dividend and it sold a plece of equipment for $6,900 that had originally cost $16,200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of Its own common stock during the year. Foundational 15-5 (Algo) 5-a. What is the amount and direction (- or -) of the accounts receivable adjustment to net income in the operating activities section of the statement of cash flows? 5-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Req SA Req 58 What does this adjustment represent? Cash collected from customers > Credit sales Cash collected from customers Cash collected ! Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] [The following information applies to the questions displayed below.] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance $118,400 Beginning Balance $142,300 93,900 101,200 126,100 115,000 338,400 358 500 333,000 111,000 222,000 $560,400 $ 73,600 322,000 40,500 241,500 $600,000 $ 130,700 77,300 115,000 57.100 138,000 161,000 130.00 130,700 139,000 $560,400 $ 600,000 During the year, Ravenna paid a $13,800 cash dividend and it sold a plece of equipment for $6.900 that had originally cost $16.200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of Its own common stock during the year. Foundational 15-7 (Algo) 7- What is the combined amount and direction (-or-) of the Inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? 7-b. What does this amount represent? Complete this question by entering your answers in the tabs below. Ring 7A Req 70 What is the combined amount and direction (+ or -) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? Amount Req 78 >> Foundational 15-7 (Algo) 7-a What is the combined amount and direction (-or-) of the Inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows? 7-b. What does this amount represent? Complete this question by entering your answers in the tabs below. Req 7A Req 70 What does this amount represent? Cash paid to suppliers Cost of goods sold Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] The following Information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable. Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance $ 118,400 93,900 Beginning Balance $142,300 101,200 126,100 115,000 338,400 358,500 333,000 322,000 111,000 222,000 $560,400 $ 73,600 B0,500 241,500 $ 600,000 $130,700 72.300 115,000 57,100 138,000 161,000 238,000 130,700 139,000 $560,400 $600,000 During the year, Ravenna paid a $13,800 cash dividend and it sold a piece of equipment for $6.900 that had originally cost $16,200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of Its own common stock during the year. Foundational 15-9 (Algo) 9-a. What is the amount and direction (-or-) of the income taxes payable adjustment to net Income In the operating activities section of the statement of cash flows? 9-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Req 9A Req 98 What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? Amount Req 98> 9-a. What is the amount and direction (-or-) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows? 9-b. What does this adjustment represent? Complete this question by entering your answers in the tabs below. Req 9A Req 98 What does this adjustment represent? Tax paid Income tax expenses Tax paid Income tax expenses No taxes are payable Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] The following information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable. Bonds payable Retained earnings Connon Stock Total liabilities and stockholders' equity Ending Balance $118,400 Beginning Balance $142,300 93,900 101,200 126.100 115,000 338,400 358,500 333,000 322,000 111,000 80.see 222,000 $560,400 241,500 $ 600,000 $73,600 $ 130,700 57.100 77,000 138,000 115,000 161,000 138,000 130,700 139,000 $560,400 $600,000 During the year, Ravenna paid a $13.800 cash dividend and it sold a piece of equipment for $6,900 that had originally cost $16.200 and had accumulated depreciation of $10.800. The company did not retire any bonds or repurchase any of its own common stock during the year. Foundational 15-10 (Algo) 10. Would the operating activities section of the company's statement of cash flows contain an adjustment for a gain or a loss? What would be the amount and direction (-or-) of the adjustment? Required Information The Foundational 15 (Algo) [LO15-1, LO15-2] [The following information applies to the questions displayed below] Ravenna Company is a merchandiser that uses the Indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Ending Balance Beginning $ 118,400 93,900 $142,300 101,200 126,100 115,000 138,400 358,500 333,000 322,000 111,000 80,500 222,000 $560,400 $ 73,600 241-500 $600,000 $ 130,700 27,300 115,000 57,100 138,000 161,000 138,000 130,700 139,000 $560,400 $ 600,000 During the year, Ravenna paid a $13,800 cash dividend and it sold a plece of equipment for $6.900 that had originally cost $16.200 and had accumulated depreciation of $10,800. The company did not retire any bonds or repurchase any of Its own common stock during the year. Foundational 15-11 (Algo) 11. What is the amount of net cash provided by (used In) operating activities in the company's statement of cash flows? Net cash operating activities