State of the effect ( cash receipt or payment and amount) of cash of each the following transactions, considered individually on cash flows;
Identify the type of cash flow activity for each of the following events( operating,investing or financing)
indicate whether each of the following would be added or deducted from net incomein determining net cash flow from operating activities by the indirect method:
a decrease in account receivable
b. increase in note payable due in 90 days to vendors
c. decrease in salaries payable
d. decrease in prepaid expenses
e. gain on retirement of long term debt
f decrease in accounts payable
g. increase in notes receivable due in 90 days from customers.
h. depreciation of fixed assets
i. increase in merchandise inventory
j. amortization of patent
k. loss on disposal of fixed assets.
On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the financing section of the statement of cash flows, assuming the gain or loss on retiring the bonds.
Account Bonds payable
Account discount on pond payable
on the basic of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
Purchased for cash
Sold for $210,000
13-6the net income reported on the income statement for the current year was $120,000. Depreciation recorded on equipment and a building amounted to$62,500 for the year balance of the current asset and current liability accounts at the beginning and end of the year are as follows:
End of year
Beginning of year
Account receivable (net)
Account payable (merchandise creditors)
When is the due date on these please?
Ok, I think I am done though, but can you please check the figures in the last problem, is the net income $120,000 or $210,000?