Effect of income taxes on statement of cash flows Radio Shack reported a balance in Income Taxes
Question:
Effect of income taxes on statement of cash flows Radio Shack reported a balance in Income Taxes Payable of $781 million at the beginning of the year, $60.1 million at the end of the year, and income tax expense for the year of $161.5 million. Using the format of Exhibit 5.16, indicate the effects of all these transactions on Radio Shack's statement of cash flows for theyear.
Transcribed Image Text:
Simplified Statoment of Cash Flows (Problem 5.5 for Self-Study) EXHIBIT 5.16 Operations Cash Receipts from Customers Less: Cash Payments to Suppliers, Employees, and Others . Cash Flow from Operations [- (1) – (2)).. Reconciliation of Net Income to Cash Flow from Operations (1) -(2) 51 Net Income (3) Additions to Net Income to Compute Cash Flow from Operations Subtractions from Net Income to Compute Cash Flow from Operations.. Cash Flow from Operations [- (3) + (4) - (5)1. +(4) -(5) 51 Investing Proceeds from Dispositions of "Investing" Assets.. +(6) Cash Used to Acquire "Investing" Assets... -(7) Cash Flow from Investing [- (6) - (7)1 S2 Financing Cash Provided by Increases in Debt or Capital Stock.. +(8) Cash Used to Reduce Debt or Capital Stock. Cash Used for Dividends... Cash Flow from Financing [- (8) - (9) - (10)). Net Change in Cash [- 51 + S2 + 53] Cash, Beginning of the Period.. Cash, End of the Period [- (11) + 54]. -(9) -(10) 53 (11) 54 S5
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
Radio Shack effect of income taxes on statement of cash flowsAmounts in Millions ...View the full answer
Answered By
Isaiah Mutinda
As a graduate with Bs in Maths and Computer Science and having worked as a freelance full stack software developer for 3 years running I believe I have what it takes to conformable tutor and mentor a student to a professional developer also.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting an introduction to concepts, methods and uses
ISBN: 978-0324789003
13th Edition
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
Question Posted:
Students also viewed these Managerial Accounting questions
-
The projected benefit obligation was $80 million at the beginning of the year. Service cost for the year was $10 million. At the end of the year, pension benefits paid by the trustee were $6 million...
-
Cash and cash equivalents at the beginning of the year totaled $10,000 The statement of cash flows reported the following net cash provided by operating activity of $5,000, net cash used by investing...
-
Radion Corporation reported a balance in Income Taxes Payable of $78.1 million at the beginning of the year, $60.1 million at the end of the year, and income tax expense for the year of $161.5...
-
To meet the demand for parking, your town has allocated the area shown here. As the town engineer, you have been asked by the town council to find out if the lot can be built for $11,000. The cost to...
-
How is demographic segmentation used in consumer markets? Provide an example where marketers have used demographic segmentation.
-
Write the profit function for the given expense and revenue functions. E = 6,500p + 300,000 R = 720p 2 + 19,000p
-
One of the many wonderful things about studying statistics is that graduate programs in statistics often pay their graduate students, which means that many graduate students in statistics are able to...
-
A table of data for a library is shown in the table for Problem. Normalize these data into the third normal form, preparing it for use in a relational database environment. The librarys computer is...
-
4.1 4.2 With the increasing number of hosts on the enterprise network, the Network Administrator has decided to implement subnetting. Evaluate the design goals of subnetting a large enterprise...
-
This problem set tells the story of three friends Alice, Bob, who are con- sumers, and Carol, who owns a firm. Alice, and Bob have preferences over two goods, Dumplings and Free time. Each of them...
-
Effect of borrowing and interest on statement of cash flows Gillette borrowed $250 mil lion on October 1 by issuing bonds. The debt carries an annual interest rate of 6%, which it must pay on April 1...
-
Effect of rent transactions on statement of cash flows A firm reported a balance in its Pre paid Rent (Advances to Landlord) account of $1,200 on January 1, 2009, for use of the building for the...
-
Petrov plc sells 10,000 tonnes of sand each year and demand is constant over time. The purchase cost of each tonne is 15 and the cost of placing and handling an order is estimated to be 32. The cost...
-
Explain in detail the labour laws and industrial relations system in Indonesia.?
-
A closed tube has a diameter of 0.042 m when it is vibrating the 2nd overtone. The velocity of sound is 345 m/sec. If the frequency of the sound is 440 Hz, what is the length of the tube?
-
Discuss the challenges faced in reinforcing various labour laws ?
-
The Jamaican labour laws/regulations are irrelevant in today's society given that organizations have been developing sound industrial relations policies and programmes to maintain sound, harmonious...
-
1) Samantha works as a waitress at a restaurant. On Friday night, Samantha was walking through the kitchen area and slipped and fell in a puddle of water that was on the floor. Samantha hurt her back...
-
What are mark-sense forms?
-
Match each of the key terms with the definition that best fits it. _______________ A record of the sequence of data entries and the date of those entries. Here are the key terms from the chapter. The...
-
A molecule contains 5 carbon atoms and 12 hydrogen atoms. Is it saturated or unsaturated? Explain how you know.
-
Tootsie Rolls financial statements are presented in Appendix A, and the financial statements of The Hershey Company are presented in Appendix B. Instructions (a) Based on the information in these...
-
Tootsie Rolls financial statements are presented in Appendix A, and the financial statements of The Hershey Company are presented in Appendix B. Instructions (a) Based on the information in these...
-
The September 3, 2009, issue of BusinessWeek includes an article by Lindsey Gerdes entitled The Best Places to Launch a Career. It provides interesting information regarding the job opportunities for...
-
Write a short report on a (recent) development that affects the audit market, the audit profession and audit quality. In this report, you are asked to 1) Briefly describe the development and its link...
-
How do cutting-edge technologies such as artificial intelligence and blockchain facilitate organizational flexibility, enabling dynamic resource allocation, process optimization, and rapid...
-
How can individuals cultivate cognitive flexibility and emotional resilience amidst the complexities of modern life, navigating intricate personal and professional dynamics to thrive in rapidly...
Study smarter with the SolutionInn App