Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2015 Cash Flows from Operating Activities Net income .......................................................... $ Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities ........................ _____ Cash Flows from Investing Activities Net cash flows from investing activities ........................ _____ Cash Flows from Financing Activities Net cash flows from financing activities ....................... _____ Net increase (decrease) in cash .................................. $ 3,765 Cash at the beginning of the period ............................ 7,510 Cash at the end of the period ................................... $11,275 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land .................................... $ 8,650 Issuance of common stock .............................................. 13,075 Depreciation expense ................................................... 5,465 Increase in accounts receivable ........................................ 4,090 Decrease in accounts payable .......................................... 1,760 Issuance of long-term notes payable ................................. 16,495 Purchase of equipment ................................................. 39,865 Decrease in inventory .................................................. 1,475 Decrease in prepaid rent ............................................... 905 Payment of dividends ................................................. 6,370 Net income .............................................................. 12,400 Purchase of treasury stock ............................................ 2,615 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method.
Determine each year's absorption costing net operating income. Present your answer in the form of a reconciliation report.
Pynchon issued $400,000 face value, 8% bonds, for $437,000, including accrued interest. In addition, bond issue costs amounted to $2,900, which are not included in the $437,000.
Hawkeye Enterprises runs a chain of drive-in ice cream stand in Iowa City during the summer season. Managers of all stands are told to act as if they owned the stand and are judged on their profit performance.
A company reports sales revenue of $200 million the current year and $180 million last year. Their total assets in the current year are $150 million and last year's total assets were $130 million. What is the current year's asset turnover ratio?
Tax rules are often very precise. For instance, a taxpayer must ordinarily provide "over 50%" of another person's support in order to claim a dependency exemption. Why is the threshold "over 50%" as opposed to "50% or more"? Explain in detail.
On January 1, 2005, Solomon Company purchased the following two machines for use in its production process. Calculate the amount of depreciation expense that Solomon should record for machine B each year of its useful life under the following assum..
Assuming that interest is computed annually, at what carrying value should the total liability for these bonds be reported two years later on December 31, 2012, if the effective-interest method of amortization is used?
On December 31, 2007, BradstormCompany had 1,500,000 shares of $10 par common stock issued and outstanding. Write out the journal entries for these transaction.
Which of the following is NOT the Classification of Current Assets with respect to the Companies Ordinance 1984?
Some Keynesian economists criticize the official unemployment statistics for understating the extent of joblessness in the United States. Which of the following statements represent shortcomings of the official unemployment rate reported by the Bu..
1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entry to record the award on January 1, 2009.
Woolery, Inc. had 50,000 shares of common stock outstanding at January 1, 2009. Compute basic earnings per share for the year ended December 31, 2009.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd