see options below
by mistake there are two 'c' answers. please refer first c as 'C1' and second c as 'C2'
thanks a lot. please answer correctly.. its my exam.
Vancouver Canucks Co. provided the following partial information regarding cashflows: 2022 2021 $ Assets Cash Inventory Furniture Accumulated Depreciation Total Assets $ 328,500 195,000 52,500 - 471,000 $ 27,000 252,000 244,500 67,500 456,000 - $ Liabilities & Shareholders' Equity 2022 2021 Bank overdraft $ 15,000 $ Accounts Payable 102,000 67,500 - Net Income for 2022 was $48,000. - A piece of furniture was sold for $9,000 and a gain of $3,000 was recorded. - Depreciation for the year was $28,500. Required: You are tasked with providing information for the creation of the operating section of the cash flow statement using the indirect method. For the following items, provide the amount of the adjustment to reconcile net income to net cash provided or used by operating activities. If you believe the item would not be reconciled in the operating section of an indirect cashflow statement, please select the 'not utilized' option. a) Depreciation Expense: - Net Income for 2022 was $48,000. - A piece of furniture was sold for $9,000 and a gain of $3,000 was recorded. - Depreciation for the year was $28,500. Required: You are tasked with providing information for the creation of the operating section of the cash flow statement using the indirect method. For the following items, provide the amount of the adjustment to reconcile net income to net cash provided or used by operating activities. If you believe the item would not be reconciled in the operating section of an indirect cashflow statement, please select the 'not utilized' option. a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory: d) Change in accounts payable: e) Change in bank overdraft: Additional Question: f) Given the information above, what is the net cash provided/used by operating activities (a positive number is 'net cash provided a negative number is 'net cash used']: a) Depreciation Expense b) Gain on furniture disp c) Proceeds from furnit 28,500 49,500 -49,500 not utilized -28,500 0 c) Change in Inventory: d) Change in accounts payable: e) Change in bank overdraft: Additional Question: f) Given the information above, what is the net cash provided/used by operating activ 'net cash provided' a negative number is 'net cash used"): in the operating section of an indirect cashflow statement, please select the 'not utilia a) Depreciation Expense: b) Gain on furniture disposa c) Proceeds from furniture c) Change in Inventory: 0 3,000 -3,000 7,500 not utilized -7,500 d) Change in accounts paya e) Change in bank overdraft: Additional Question: f) Given the information above, what is the net cash provided/used by operating activities 'net cash provided' a negative number is 'net cash used'); in the operating section of an indirect cashflow statement, please selec a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposa 0 c) Change in Inventory: not utilized -9,000 d) Change in accounts payable: -6000 9,000 e) Change in bank overdraft: 6,000 Additional Question: f) Given the information above, what is the net cash provided/used by opera 'net cash provided' a negative number is 'net cash used'): in the operating section of an indirect cashflow statement, please select the 'no a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory not utilized d) Change in account: 0 -76,500 e) Change in bank ove 328,500 Additional Question: -328,500 76,500 f) Given the informatic... ... the net cash provided/used by operating act 'net cash provided' a negative number is 'net cash used'); ent, please select the 'nc a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory: d) Change in accounts payable e) Change in bank overdraft: Additional Question: 24,500 not utilized -34,500 0 34,500 -24,500 f) Given the information above 'net cash provided a negative cash provided/used by operating ac ish used']: the year was $28,500. Required: You are tasked with providing information for the creation of the operating section statement using the indirect method. For the following items, provide the amount of the adjust net income to net cash provided or used by operating activities. If you believe the item would in the operating section of an indirect cashflow statement, please select the 'not utilized' optio a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory: d) Change in accounts payable: e) Change in bank overdraf Additional Question: f) Given the information ab 'net cash provided' a negat 42,000 not utilized 0 -42,000 -15,000 15,000 et cash provided/used by operating activities (a positi cash used'); Required: You are tasked with providing information for the creation of the operating sec statement using the indirect method. For the following items, provide the amount of the a net income to net cash provided or used by operating activities. If you believe the item wc in the operating section of an indirect cashflow statement, please select the 'not utilized' a) Depreciation Expense: b) Gain on furniture disposal: c) Proceeds from furniture disposal: c) Change in Inventory: d) Change in accounts payable: e) Change in bank overdraft: Additional Question: f) Given the information above, what is the net cash prov 'net cash provided' a negative number is 'net cash used' 31,500 pperating activities (a -37,500 26,250 9,000 -25,500 -9,000
