Introduction To Managerial Accounting
8th Edition
ISBN: 9781259917066
Author: BREWER, Peter C., Garrison, Ray H., Noreen, Eric W.
Publisher: Mcgraw-hill Education,
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Chapter 13, Problem 1F15
Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its
During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for $3,000 that had
Required:
- What is the amount of the net increase or decrease in cash and cash equivalents that would be shown on the company’s statement of cash flows?
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Students have asked these similar questions
Moore Company is preparing its statement of cash flows for the current year. During the year, the company retired two issuances of debt and properly recorded the transactions. These transactions were as follows:
Paid cash of $12,700 to retire bonds payable with a face value of $15,000 and a book value of $13,300.
Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value of $47,000.
Required:
Record, in journal entry form, the entries that Moore would make for the preceding transactions on its spreadsheet to prepare its statement of cash flows. If an amount box does not require an entry, leave it blank.
Comparative financial statements for Weaver Company follow:
During this year, Weaver sold some equipment for $10 that had cost $49 and on which there wasaccumulated depreciation of $30. In addition, the company sold long-term investments for $50 thathad cost $38 when purchased several years ago. Weaver paid a cash dividend this year and thecompany repurchased $109 of its own stock. This year Weaver did not retire any bonds.
Required:1. Using the direct method, adjust the company’s income statement for this year to a cash basis.2. Using the information obtained in (1) above, along with an analysis of the remaining balance sheetaccounts, prepare a statement of cash flows for this year.
The Net Profit of LSLS Corporation for the year is $ 2,515,250. Using the following information in
the table and find out the Net Cash Flows from Operating Activities by Indirect Method
SI. No :
Particulars
Amount ($)
1
Depreciation Expense
25,565.00
Decrease in Current Liabilities
57,677.00
3
Increase in Prepaid Insurance
67,076.00
4
Loss on Sale of Machinery
322,387.00
Gain on sale of Non Current Asset
377,553.00
6
Increase in Salaries Payable
64,704.00
7
Provision for Taxation
123,321.00
$ 2,584,921
O $ 2,548,921
O $ 2,544,921
O $ 2,458,921
Chapter 13 Solutions
Introduction To Managerial Accounting
Ch. 13.A - Prob. 1ECh. 13.A - Prob. 2ECh. 13.A - Prob. 3ECh. 13.A - Prob. 4ECh. 13.A - Prob. 5PCh. 13.A - Prob. 6PCh. 13.A - Prob. 7PCh. 13 - Prob. 1QCh. 13 - Prob. 2QCh. 13 - Prob. 3Q
Ch. 13 - What general guidelines can you provide for...Ch. 13 - Prob. 5QCh. 13 - Prob. 6QCh. 13 - Prob. 7QCh. 13 - Prob. 8QCh. 13 - A business executive once stated, “Depreciation is...Ch. 13 - If the Accounts Receivable balance increases...Ch. 13 - Would a sale of equipment for cash be considered a...Ch. 13 - Prob. 12QCh. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Prob. 2F15Ch. 13 - Prob. 3F15Ch. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Prob. 5F15Ch. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Prob. 8F15Ch. 13 - Prob. 9F15Ch. 13 - Prob. 10F15Ch. 13 - Prob. 11F15Ch. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Ravenna Company is a merchandiser that uses the...Ch. 13 - Prob. 14F15Ch. 13 - Prob. 15F15Ch. 13 - Prob. 1ECh. 13 - Net Cash Provided by Operating Activities For the...Ch. 13 - Prob. 3ECh. 13 - Prob. 4ECh. 13 - Net Cash Provided by Operating Activities Changes...Ch. 13 - Prepare a Statement of Cash Flows; Free Cash Flow...Ch. 13 - Prob. 7PCh. 13 - Prob. 8PCh. 13 - Prob. 9PCh. 13 - Prepare a Statement of Cash Flows; Free Cash...Ch. 13 - Prob. 11PCh. 13 - Prepare a Statement of Cash Flows A comparative...Ch. 13 - Prob. 13PCh. 13 - Prob. 14P
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