Net income for 2011 was 750000 and depreciation expense was

Assignment Help Accounting Basics
Reference no: EM13572297

Gregson Company had the following noncash current asset and current liabilities balances at the end of 2010 and 2011:


2010


2011

Accounts receivable

$ 60,000


$ 68,000

Inventory

230,000


210,000

Prepaid insurance

15,000


13,000

Accounts payable

20,000


30,000





Net income for 2011 was $750,000 and depreciation expense was $40,000. All sales and all purchases are on account. Gregson uses the indirect method for preparing the statement of cash flows.

Net cash flows from operating activities for 2011 would be?

Reference no: EM13572297

Questions Cloud

What is the primary objective of financial reporting : a what is the primary objective of financial reporting?b identify the characteristics of useful accounting
Bio-cultural anthropology the effect of breastfeeding on : choose a research topicquestion from those listed below. write a 2500 - 3000 word paper using no more than six sources
A state issued 70000000 of 4 20 year term bonds at 105 to : a state issued 70000000 of 4 20 year term bonds at 105 to provide financing for construction of a new state legislative
Laurie belk is president of better books she has no : laurie belk is president of better books. she has no accounting background. belk cannot understand why fair value is
Net income for 2011 was 750000 and depreciation expense was : gregson company had the following noncash current asset and current liabilities balances at the end of 2010 and
Athens corporation uses a job-cost system and applies : athens corporation uses a job-cost system and applies manufacturing overhead to products on the basis of machine hours.
What is the npv and irr of this project should this project : after discovering a new gold vein in the colorado mountains ctc mining corporation must decide whether to mine the
A company is considering selling a piece of factory : a company is considering selling a piece of factory equipment and buying new equipment to replace it. identify two cash
For warren corporation year-end plan assets were 2018200 at : for warren corporation year-end plan assets were 2018200. at the beginning of the year plan assets were 1742800. during

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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