Prepare the statement of cash flows from changes in balance

Assignment Help Accounting Basics
Reference no: EM132643631

Question - Please prepare the statement of cash flows from changes in balance sheet accounts. The comparative balance sheets of Incloud Airlines show the following information for a recent year (amounts in thousands of US$):

Change Amount Direction

Cash $40,308 Increase

Accounts Receivable $15,351 Decrease

Inventories 15,117 Increase

Prepayments 16,776 Increase

Property, Plant, and Equipment (at Cost) 1,134,644 Increase

Accumulated Depreciation 264,088 Increase

Other Non-operating Assets8,711 Increase

Accounts Payable 660 Decrease

Other Current Liabilities 114,596 Increase

Long-Term Debt 244,285 Increase

Other Non-operating Liabilities 140,026 Increase

Common Stock 96,991 Increase

Retained Earnings 340,879 Increase

Required -

a. Cash was $378,511 at the beginning of the year and $418,819 at the end of the year.

b. Incloud Airlines did not sell any property, plant, and equipment during the year.

c. Net income was $474,378.

Required -

a. Please prepare the statement of cash flows for Incloud Airlines for the year. Treat changes in non-operating assets as investing transactions and changes in non-operating liabilities as financing transactions.

b. Discuss briefly the pattern of cash flows from operating, investing, and financing activities for Incloud Airlines for the year.

Reference no: EM132643631

Questions Cloud

Development of database requires thorough methodology : The development of a database requires thorough methodology that ensures quality within the solution.
Introducing a new lottery game called infinite progresso : The gaming commission is introducing a new lottery game called Infinite Progresso. The winner of the Infinite Progresso jackpot will receive $1,200 at the end o
Conduct and properly credit the work of experts : The importance of learning to conduct and properly credit the work of experts in college writing leaves no room for misinterpretation. The work will be factual.
Compute glowscapes gross profit for 2019 : In 2019, the GlowScapes, Inc. purchased 2,589,600 units from its supplier at a cost of $26.00 per unit. GlowScapes sold 2,786,450 units of its product in 2019
Prepare the statement of cash flows from changes in balance : Please prepare the statement of cash flows from changes in balance sheet accounts. Incloud Airlines did not sell any property, plant, and equipment during year
Which the degree of operating leverage is defined as : Which the degree of operating leverage is defined as? % change in EBIT/ % change in contribution margin. / % change in EBIT/ % change in sales
What price must company typically pay to buy another company : What price must a company typically pay to buy another company? The price will? include some premium over the current market value of the target's equity.
Functional and nonfunctional requirements : Discuss some examples of functional versus nonfunctional requirements. What would exemplify these requirements in a software development project
What effective annual rate will always be the nominal rate : If a loan is compounded monthly, the effective annual rate will always be the nominal rate. equal to / less than. / greater than

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