Reference no: EM132028227
Problem - Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:
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Ending Balance
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Beginning Balance
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Cash
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$89,000
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$106,750
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Accounts receivable
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71,500
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77,000
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Inventory
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96,000
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87,500
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Total current assets
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256,500
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271,250
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Property, plant, and equipment
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255,000
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245,000
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Less accumulated depreciation
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85,000
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61,250
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Net property, plant, and equipment
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170,000
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183,750
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Total assets
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$426,500
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$455,000
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Accounts payable
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$56,000
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$99,500
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Income taxes payable
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43,500
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57,000
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Bonds payable
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105,000
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87,500
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Common stock
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122,500
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105,000
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Retained earnings
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99,500
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106,000
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Total liabilities and stockholders' equity
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$426,500
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$455,000
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During the year, Ravenna paid a $10,500 cash dividend and it sold a piece of equipment for $5,250 that had originally cost $12,000 and had accumulated depreciation of $8,000. The company did not retire any bonds or repurchase any of its own common stock during the year.
What is the combined amount and direction (+ or -) of the inventory and accounts payable adjustments to net income in the operating activities section of the statement of cash flows?
What does this amount represent?
What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities section of the statement of cash flows?
What does this adjustment represent?
What is the amount of gross cash inflows reported in the financing section of the company's statement of cash flows?
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Compute net operating profit after tax
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Faulty e-commerce strategies
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What is the bond current yield
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Valuation equation of lev and schwartz outline by flamholtz
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What is the amount and direction of the income taxes payable
: What is the amount and direction (+ or -) of the income taxes payable adjustment to net income in the operating activities section of statement of cash flows
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What annual interest rate must earn to reach the goal
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Next coupon payment is due in exactly six months
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What is the initial cost of the plant if the company
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What amount must the parents now invest
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