Business, 02.08.2021 18:50 haileyhale5
The net income reported on the income statement for the current year was $210,000. Depreciation recorded on equipment and a building amount to $62,500 for the year. Balances of the current asset and current liabilities accounts at the beginning and end of the year are as follows:
End of Year Beginning of Year
Cash $56,000 $59,500
Accounts receivable (net) 71,000 73,400
Inventories 140,000 126,500
Prepaid expenses 7,800 8,400
Accounts payable (merchandise creditors) 62,600 66,400
Salaries payable 9,000 8,250
Required:
a. Prepare the Cash flows for Operating Activities section of the statement of cash flows, using the indirect method.
b. If the direct method had been used, would the net cash flow from operating activities have been the same? Explain.
Answers: 3
Business, 21.06.2019 23:30
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Business, 22.06.2019 19:00
Describe how to write a main idea expressed as a bottom-line statement
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Business, 22.06.2019 19:30
Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%
Answers: 3
The net income reported on the income statement for the current year was $210,000. Depreciation reco...
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