User Account

All Pages

Prepare the net cash flow from operating activities section

Assignment Help Accounting Basics
Reference no: EM132480823

Question 1: The following Income Statement and Operating Cash Flow information pertain to Receivership Inc.'s operations for the year ended December 31, 2014. Prepare the net cash flow from operating activities section of the cash flow statement using the direct method.

Income statement for the year ended December 31, 2014

Revenues                                         1,328

COGS                                                587

Rent expenses                                   152

Wages expenses                                  136

Insurance expenses                                 53

Other SG&A (includes depreciation expenses) 198

Interest expenses                                      30

Gain on sale of asset (5)

                                                           1,151

Income before tax                                     177

Tax                                                          62

Net income                                              115

Cash flow provided by operating activities (indirect method), for the year ended December 31, 2014

Net income                                                      115

Depreciation                                                      32

Gain on sale of asset (5)

                                                                       142

Increases/decreases in A/R                                       26

Inventories                                                             (35)

Prepaid rent                                                            13

A/P                                                                        28

Wages payable                                                     (20)

Tax payable 5

Interest payable                                                 (2)

Advances from customers                                         (3)

Other accrued SG&A                                               5

                                                                           17

Net cash provided by operating activities                  159

Reference no: EM132480823

Questions Cloud

How much extra money will need to put in monthly : Starting at age 25 put in 20,000 and it had a 4% interest rate. How much extra money will need to put in monthly to be able to reach that amount by age 75?
What are the adr for each employee : If the plan does not satisfy the ADP test, how can you use refunds or re-characterizations instead of QNECs to satisfy the ADP test?
Prepare the statement of cash flows for the year : Prepare the statement of cash flows for the year 2015, Reconcile net income and net cash flows from operating activities for the year 2015.
Prepare the year-end adjusting entries to reflect expiration : Prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account
Prepare the net cash flow from operating activities section : Operations for the year ended December 31, 2014. Prepare the net cash flow from operating activities section of the cash flow statement using the direct method
Explain how the indirect statement of cash flows : Explain how the indirect statement of cash flows that you prepared would differ under IFRS rules. Assume this is a nonfinancial entity.
Calculate the total cost per unit for each month : Calculate the total cost per unit for each month using the overhead allocated, Allocate overhead costs to each month using the overhead rate computed
Determine three examples of the types of cost : provide three examples of these types of costs, the requirement for reporting them, and also indicate which FASB rule governs the application of the process.
Briefly explain three of the hedge transaction types : Briefly explain three of the hedge transaction types. Describe in which situations each would be used and why. What do you mean by hedge transaction

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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