User Account

All Pages

What net amount of adjustments is required to reconcile

Assignment Help Financial Accounting
Reference no: EM132523293

An entity reported net income of P5,000,000 for the current year. Depreciation expense was P1,900,000. The following working capital accounts changed:

Accounts receivable                              1,100,000 increase

Nontrading equity investment                 1,600,000 increase

Inventory                                           730,000 increase

Nontrade note payable                           1,500,000 increase

Accounts payable                                    1,220,000 increase

Question 1: Under the indirect method, what net amount of adjustments is required to reconcile net income to net cash provided by operating activities?

Reference no: EM132523293

Questions Cloud

How long does it take to double your money : At 6.5 percent interest, how long does it take to double your money? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
What is the value of a share of bmi at the start : Suppose? BMI's,Estimate? BMI's EPS in 2009 and 2010?(before any share? repurchases). What is the value of a share of BMI at the start of 2009
Software and hardware : Research on what is a forensic read/write blocker and what is the difference between a hardware and a software version?
Compute the ending balance of accounts receivable : Scully Company had accounts receivable of €115,000 on January 1, 2020. Compute the ending balance of accounts receivable
What net amount of adjustments is required to reconcile : Under the indirect method, what net amount of adjustments is required to reconcile net income to net cash provided by operating activities?
Prepare adjusting entries for the month ended november : Prepare adjusting entries for the month ended November 30 assume Heartland has a policy of adjusting accounts on monthly basis.
Prepare the entries on Calhoun Cos books : Prepare the entries on Calhoun Co.'s books related to the transactions that occurred on January 10, February 12, and March 10
Prepare the entries on Stegners books to record the sale : On January 16, Molina Inc. pays the amount due. Prepare the entries on Stegner's books to record the sale and related collection
Service level agreement purpose : A service-level agreement (SLA) represents an understanding between users and the service provider.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the default risk premium on corporate bonds

What is the default risk premium on corporate bonds?

  Prepare the journal entries assuming commercial substance

Pizza Company trades its used delivery cars for a new models at Hudson Toyota. Prepare the journal entries assuming a) commercial substance and b) no commercial substance.

  Compute the weighted-average number of shares outstanding

Tomba Corporation had 557,400 shares of common stock outstanding on January 1, 2014. On May 1, Tomba issued 34,200 shares. Compute the weighted-average number of shares outstanding if the 34,200 shares were issued for cash. Compute the weighted-avera..

  Deferred tax liability reported on balance sheet

During its first year of operation a company recorded revenue totalling $ 6,000,000 for book purposes. for tax purposes, $ 2,400,000 of the revenue is taxable during the first year of operation and $ 3,600,000 of the revenue is taxable during the sec..

  Compute overall contribution margin ratio for the video game

Compute the overall contribution margin ratio for the video game company, and the overall break-even point for the company in dollar sales. A contribution format income statement from the month is as follows:

  How should davis record the sale of merchandise costing

Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of merchandise costing $700 for $1000 on account?

  Using the tax tables and using the tax rate schedules

A married taxpayer has taxable income of $47,861. You have calculated tax liability using the tax tables and using the tax rate schedules. What can you say about the two figures?

  Financial statements of toms terrific technologies

Tom’s Terrific Technologies provides maintenance service for office equipment and computers for companies located in the Pacific Northwest. The fiscal year-end for this company is December 31st. On December 30, 2014, Sally Seller, the sales manager, ..

  Used to transport and store chemical-based products

Camden Biotechnology began operations in September 2016. The following selected transactions relate to liabilities of the company for September 2016 through March 2017. Received $4,800 of refundable deposits in December for reusable containers used t..

  Calculation of ending inventory for interim financial

calculation of ending inventory for interim financial statements.ernst equipment co. wants to prepare interim financial

  Job-order costing system

Araiza Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. During the month, the actual manufacturing overhead cost incurred was $255,220, and 1,000 compl..

  Estimate the companys energy cost behavior and express it

Use the high-low method to estimate the company's energy cost behavior and express it in equation form. Predict the energy cost for a month in which 26,000 pints of applesauce are produced.

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