The current sections of leach incs balance sheets at dec 31

Assignment Help Accounting Basics
Reference no: EM13602534

The current sections of Leach Inc.'s balance sheets at Dec 31, 2010 and 2011, are presented here. Leach's net income for 2011 was $153,260. Depreciation expense was $23,900.

Item 2011 2010
Current assets
Cash 104880 99110
Accounts receivable 110070 89150
Inventory 158000 172470
Prepaid expenses 26610 21870
Total current assets 399560 382600

Current liabilities
Accrued expense payable 15350 4870
Accounts payable 85490 92300
Total current liabilites 100840 97170

Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended Dec 31 2011, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow use either a negative sign preceding the number eg.-45 or parentheses eg (45).)

Reference no: EM13602534

Questions Cloud

A company issued a 30000 20 year bond with a stated : 1. a company issued a 100000 20 year bond with a stated interest rate of 6. assume interest payments are made annually.
What percentage of assets would be financed by equity round : santana rey has consulted with her local banker and is considering financing an expansion of her business by obtaining
The balance in beginning work in process at bing rubber : the balance in beginning work in process at bing rubber company for direct labor was 147700. during the month of march
Te companys product is sold by the box at 50 per unit : lehighton chalk company manufactures blackboard chalk for educational uses. the companys product is sold by the box at
The current sections of leach incs balance sheets at dec 31 : the current sections of leach inc.s balance sheets at dec 31 2010 and 2011 are presented here. leachs net income for
What will be the relationship between total operating : chataqua can company manufactures metal cans used in the food-processing industry. a case of cans sells for 50. the
On january 1 2006 gless textiles issued 12 million of 9 : on january 1 2006 gless textiles issued 12 million of 9 10-year convertible bonds at 101. the bonds pay interest on
Jim takes a simple random sample of 15 from a very large : 1. jim takes a simple random sample of 15 from a very large population whose variance is unknown. she intends to
During the entire period ending dec 31 of each year the : during the entire period ending dec 31 of each year the outstanding stock of the company was composed of 20000 shares

Reviews

Write a Review

Accounting Basics Questions & Answers

  Common relationships and other considerations

What are some common relationships and other considerations used by auditors when assessing the dollar amount considered material?

  On july 23 of the current year dakota mining co pays

on july 23 of the current year dakota mining co. pays 4836000 for land estimated to contain 7800000 tons of recoverable

  Under the accrual basis of accounting the accounting

1. under the accrual basis of accounting the accounting records are normally updated after the preparation of the

  Percy motors has a target capital structure of 40 debt and

percy motors has a target capital structure of 40 debt and 60 common equity with no preferred stock. the yield to

  Cost drivers and value-added processes

What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method? Do you prefer ABC over traditional costing methods?

  Show job-order costing or process costing

For each company, indicate whether the company is most likely to use job-order costing or process costing.

  Sales on account280000 cash sales 650000 collections of

classic auto parts sells new and used auto parts. although a majority of its sales are cash sales it makes a

  Define the term general ledger and how is it helpful in

what is a general ledger and how is it helpful in accounting what about the impact of debits and credits to revenue and

  Benskin corporations capital structure consists of 600000

benskin corporations capital structure consists of 600000 of assets and 325000 of liabilities. the average interest

  The questions that follow are based on rule 101 of the

the questions that follow are based on rule 101 of the aicpa code of the professional conduct as it relates to

  Suppose caterpillar inc has 665 million shares outstanding

uppose caterpillar inc. has 665 million shares outstanding with a share price of 74.77 and 25 billion in debt. if in

  Why may net cash flow from operating activities

Revenue represents the benefit a company experiences from operating its business. In accounting terms, revenues are increases in assets or decreases in liabilities resulting from business operations. Accrual accounting requires companies to recogn..

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