User Account

All Pages

Cash flows from operating activities-indirect method

Assignment Help Cost Accounting
Reference no: EM13343388

Cash flows from operating activities, indirect method

For the year ended June 30, 2010, net income for Soak Company was $7,400. Depreciation expense was $2,000. During the year, Accounts Receivable increased by $4,400, Inventories increased by $7,000, Prepaid Rent decreased by $1,400, Accounts Payable increased by $14,000, Salaries Payable increased by 41,000and Income taxes Payable decreased by $600.

Prepare a schedule of cash flows from operating activities using the indirect method.

Reference no: EM13343388

Questions Cloud

Recognize and define the accounting equation : Recognize and define the accounting equation, classify accounts as Assets, Liability, or Equity, and evaluate, record and post common business transactions.
Explain how you get velocity of water at this point : A drinking fountain projects water at an initial angle of 50 degrees above horizontal Water reaches maximum height of 0.150m above point of exit. Explain how you get velocity of water at this point
How does that affect the accounting equation : When the owner takes supplies for personal use, how does that affect the accounting equation like which accounts will it affect and by increasing, decreasing etc?
Calculate gauge pressure in feeder pipe at this point : A drinking fountain projects water at an initial angle of 50 degrees above horizontal Water reaches maximum height of 0.150m above point of exit. Calculate gauge pressure in feeder pipe at this point
Cash flows from operating activities-indirect method : Cash flows from operating activities-indirect method and Prepare a schedule of cash flows from operating activities using the indirect method.
Long term investments - adjusted to market and equity method : Prepare a schedule of cash flows from operating activities using the indirect method- Explain your answers and show any calculations necessary to arrive at your answers.
What is the rate earned on total assets for this company : Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
What is the amount of cash flows : A building with a book value of $ 46,000 is sold for $51,000 cash Using the indirect method, this transaction should be shown on the statement of cash flows as follows.
Prepare journal entries for the issue of the bonds : Prepare journal entries for the issue of the bonds, the first interest payment on September 1

Reviews

Write a Review

Cost Accounting Questions & Answers

  Kilograms produced and sold

Kilograms produced and sold

  Common stock transactions and stockholders equity

Prepare the stockholders' equity section of Blank Company's balance sheet  at May 31, 2010. Net Income earned during the first three months was $15,000.

  Create a segmented income statement in contribution format

Traceable fixed expenses totaled $216,000 and were allocated as 70 percent to Eastern and 30 percent to Western. Common fixed expenses totaled $295,000.

  What is the amount of depreciation expense

What is the amount of depreciation expense for each of the five using the straight line method and what is the amount of depreciation expense for each of the five years using the double declining balance method?

  Manufacturing overhead applied to work in process

Manufacturing overhead applied to Work in Process for month was $69,450 and manufacturing overhead transferred from Finished Goods to Cost of Goods Sold through the month was $69,450.

  Evaluate the cut off score for gaining admission

Evaluate the cut off score for gaining admission and evaluate the probability that they have a mean height greater than 63.0 in.

  Provide a brief definition of a compilation

Explain one difference in auditor's procedures when conducting a evaluation under SSARS vs. a review of interim financial information conducted under auditing standards.

  Production and sale of the electronic magnets

The theory of constraints focuses on maximizing the rate of throughput contribution while minimizing investment and other operating costs.

  Create subsequent journal entry to show spending of funds

Create the journal entry or entries to show the proper recording of revenue and create the subsequent journal entry to show spending of the funds.

  What are advantages and disadvantages of cost-plus pricing

annual fixed costs of $4,000,000 and variable costs of $400 per unit and estimates that it can sell 40,000 pumps annually and marks up cost by 30 percent. Using cost-plus pricing, what is the cost per unit and the price What are advantages and dis..

  Explain why are sunk costs irrelevant in deciding

Gilberto Company currently manufactures one of its crucial pars at a cost of $4.45 per unit. This cost is based on a normal production rate of 65,000 units per year. Variable costs are $1.95 per unit, fixed costs related to making the part are $65..

  What was the total cost transferred out

What was the amount of direct materials charged to Job number 83 and the ending inventory was 25% complete as to the conversion cost. 100% of direct material was added at the beginning of the process. What was the total cost transferred out?

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd