The following information applies to the questions displayed below) Suppose your company sells goods for $440, of which $270 is received in cash and $170 is on account. The goods cost your company $153 and were paid for in a previous period. Your company also recorded salaries and wages of $140, of which only $44 has been paid in cash. Required: 1. Prepare the journal entries to record these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet Debat Credit General Journal No Transaction 1 270 170 Cash Accounts Receivable Cost of Goods Sold Sales Revenue Inventory 140 2 Salanes and Wages Expense Cash Salaries and Wages Payable Required information [The following information applies to the questions displayed below) Suppose your company sells goods for $440, of which $270 is received in cash and $170 is on account. The goods cost your company $153 and were paid for in a previous period. Your company also recorded salaries and wages of $140, of which only $44 has been paid in cash. 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities requirement 2) Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount that should be reported as net cash flow from operating activities. Required 3 5 Required information [The following information applies to the questions displayed below.) Suppose your company sells goods for $440, of which $270 is received in cash and $170 is on account. The goods cost your company $153 and were paid for in a previous period. Your company also recorded salaries and wages of $140, of which only $44 has been paid in cash. 2. Calculate the amount that should be reported as net cash flow from operating activities 3. Calculate the amount that should be reported as net income. 4. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2) Complete this question by entering your answers in the tabs below. Required 2 Required 3 Required 4 Calculate the amount that should be reported as net income. Net inom ured2 2 [The following information applies to the questions displayed below) Suppose your company sells goods for $440, of which $270 is received in cash and $170 is on account. The goods cost your company $153 and were paid for in a previous period. Your company also recorded salaries and wages of $140, of which only $44 has been paid in cash. rt 2 of 2 rits 2. Calculate the amount that should be reported as net cash flow from operating activities. 3. Calculate the amount that should be reported as net income. 4. Show how the Indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2) book Hint Complete this question by entering your answers in the tabs below. Print ferences Required 2 Required 3 Required 4 Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2). (Amounts to be deducted should be indicated with a minus sign.) Net Income Increase in Accounts Receivable Decrease in Inventory Increase in Salaries and Wages Payable Net Cash Flow from Operating Activities $ Help Save En Summ 3 Chucky Onts Suppose the income statement for Goggle Company reports $99 of net income, ter deducting depreciation of $34. The company bought equipment costing $65 and obtained a long term bank loan for $11. The company's comparative balance sheet December 31, is presented here. Required: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating investing, andler financing activities for increase and for decrease 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? ant Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Calculate the change in each balance sheet account and indicate whether each account relates to operating. Investing, and/or financing activities (+ for increase and for decrease) (select " if there is no effect. Ehler wounts as pave value) Previous Year Current Yew Charge Type Cash S $ 287 Account Receivable 76 177 Inventory 205 136 Equipment 570 505 Check my work 3 Complete this question by entering your answers in the tabs below, 1 points Required 1 Required 2 Required 6 Calculate the change in each balance sheet account and indicate whether each account relates to operating, Investing, and/or financing activities for increase and for decrease). (Select "NE" if there is no effect. Enter all amounts positive Values) bo Change References Cash Accounts Receivable Inventory Equipment Accumulated Depreciation Equipment Total Salaries and Wages Payable Notes Payable long-term) Common Stock Retained Earnings Tot Previous Year Current Year $ 36s 287 76 177 265 136 505 570 (44) (78) $ 830 5 1,092 $ 11 5 52 446 560 11 11 469 $ 8385 1.002 370 3 3 Cash Flows from Operating Activities 1 points Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities 4 Changes in Current Assets and Current Liabilities Print Cash Flows from investing Activities Cash Flows from Financing Activities Pizza International, Incorporated, reported the following information (in thousands): Operating Activities Net Income $ 119 Depreciation 33,400 Increase in receivables 189 Decrease in inventory 681 Increase in prepaid expenses 683 Decrease in accounts payable 8,739 Increase in accrued liabilities 738 Decrease in income taxes payable 2,759 Payments on notes payable 12,710 Cash paid for equipment 29,092 Required: 1. Based on this information, compute cash flow from operating activities using the indirect method. 2. What was the primary reason that Pizza Internationbl was able to report large positive cash flow from operations despite nearly having a net loss? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on this information, compute cash flow from operating activities using the indirect method. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) PIZZA INTERNATIONAL, INCORPORATED Based on this information, compute cash flow from operating activities using the Indirect method. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) PIZZA INTERNATIONAL, INCORPORATED Cash Flow from Operating Activities-Indirect Method (In thousands) Schueler Recreation Incorporated is a Washington-based clothing and skl/skate accessories retailet. In a recent quarter, it reported the following activities: ook nt Net incone Purchase of equipment $ 1,830 9,121 Borrowings under line of credit (bank) Proceeds from issuance of common stock 29,287 486 Cash received from customers 421, 278 Payments to reduce notes payable (long-term) 24,293 Proceeds from sale of marketable securities 41,260 Purchase of marketable securities 35,106 Income taxes paid 7,422 Other fixed assets purchased with promissory notes 3,556 Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) Int ances SCHUELER RECREATION INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: 3,556 Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amoum to be deducted should be indicated with a minus sign.) SCHUELER RECREATION INCORPORATED Statement of Cash Flows (Partial) Cash Flows from Investing Activities: Cash Flows from Financing Activities