User Account

All Pages

Find changes in current operating assets

Assignment Help Cost Accounting
Reference no: EM13509715

Changes in current operating assets and liabilities-indirect method

Phelps Corporation's comparative balance sheet for current assets and liabilities were as follows:

Dec. 31, 2013

Dec. 31, 2012

Accounts receivable

$22,500

$27,000

Inventory

15,000

12,900

Accounts payable

13,500

11,850

Dividends payable

41,250

44,250

Adjust net income of $240,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.

 

Reference no: EM13509715

Questions Cloud

Explain adjustments to net income-indirect method : In addition, the income statement showed a gain of $12,000 from the sale of investments. Reconcile a net income of $112,000 to net cash flow from operating activities.
Find how much elastic potential energy is stored in spring : A force of magnitude 610.0 N stretches a certain spring by 0.230 N from its equilibrium position. How much elastic potential energy is stored in the spring when it is stretched 0.300 m from its equilibrium position
Prepare the cash flows from operating activities section : Prepare the Cash Flows from operating Activities section of the statement of cash flows using the indirect method.
In terms of recovering oil from the ground at a location : In terms of recovering oil from the ground at a location where reserves have been identified and are accessible, the most important factor would then be:
Find changes in current operating assets : Adjust net income of $240,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities.
Estimate the pressure in the container : For chlorine gas, the van der Waals constants are: a = 0.658 J·m3/mol2, and b = 5.62 × 10-5 m3/mol. What is the pressure in the container
Determine the amount of cash received from customers : Sales reported on the income statements were $450,000. The accounts receivable balance increased $47,000 over the year. Determine the amount of cash received from customers.
What would her kinetic energy be : A running house cat has 13.5 J of kinetic energy at speed "v". What would her kinetic energy be if she ran half as fast as the speed in part A
How are the effects of these transactions reported : Pilot Corporation purchased land for $480,000. Later in the year, the company sold land with a book value of $288,000 for $328,000. How are the effects of these transactions reported on the statement of cash flows?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Anbsp which one of the following is least likely to be

anbsp which one of the following is least likely to be involved in the process that results in the concurrent budget

  Should brown thumb recognize as income this year

Suppose that in addition to the basic contract, Brown Thumb will be paid an additional $3,000 if its city landscape design wins the annual designer competition next year. Should Brown Thumb accrue $3,000 revenue this year? Why or why not?

  Prepare a schedule in good form

Prepare a schedule in Good Form that determines Citrine's taxable income for State X purposes and calculate the amount of Federal income tax, if any, for Repair Habitat and for Concrete Pour.  Show your calculation in good form.

  What does freddy have to expect in court

What does Freddy have to expect in court.

  What is the main argument against abc costing

why do you think that the AICPA and US GAAP do not permit ABC costing with Financial reporting for outside investors in 10K reports. What is the main argument against ABC costing? With reference (scholarly article).

  Create the journal entry when the cash is received

Create the journal entry or entries to show the proper recording of revenue (this may require more than on journal entry).

  Define some ways accounting fraud could be committed

Determining appropriate product costs is essential to reporting a reliable inventory valuation. Fraud examiners have indicated that scams that involve product costs and expenses are relatively easy to detect.

  Determine diluted earnings per share

Dunbar Company had 530,000shares of common stock outstanding during the year 2015. In addition, at December 31, 2013, 76,000 shares were issuable upon exercise of executive stock options which require a $42 cash payment upon exercise (options gran..

  How do you feel about the future of the company

How do you feel about the future of the company and what changes would you recommend to management and why? Be as specific as possible.

  Qswensons meats is taken whether it could replace a meat

qswensons meats is taken whether it could replace a meat grinder patty shaper machine. the new machine will produce 25

  What entries should be made after each game

Helena University sold 9,000 season football tickets at $100 each for its five-game home schedule. What entries should be made.

  What is the cost of materials handling per computer keyboard

Electronics Unlimited uses activity-based costing to allocate all manufacturing conversion costs. Electronics Unlimited produces computer keyboards.

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