The income statement and a schedule reconciling cash flows from operating activities to net income are provided
Question:
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Macrosoft Corporation.
Required:
Prepare the cash flows from operating activities section of the statement of cash flows (direct method).
Transcribed Image Text:
MACROSOFT CORPORATION Income Statement For the Year Ended December 31, 2024 ($ in millions) Revenues and gains: Sales Gain on sale of cash equivalents Gain on sale of investments Expenses and loss: Cost of goods sold Salaries Interest expense Insurance Depreciation Patent amortization Loss on sale of land Income before tax Income tax expense Net income $310 2 24 120 40 12 20 10 4 6 Reconciliation of Net Income to Net Cash Flows from Operating Activities 212 124 62 $62 Net income Adjustments for noncash effects: $336 Depreciation expense Patent amortization expense Loss on sale of land Gain on sale of investment Decrease in accounts receivable Increase in inventory Increase in accounts payable Decrease in bond discount Increase in salaries payable Decrease in prepaid insurance Increase in income tax payable Net cash flows from operating activities $ 62 10 4 6 (24) 6 (12) 18 1 6 4 10 $91
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Cash Flows from Operating Activities Cash received from customers 316 a Cash increase from sale of cash equivalents 2 b Cash paid to suppliers 114 c C...View the full answer
Answered By
Kalyan M. Ranwa
I have more than seven years of teaching experience in physics and mechanical engineering.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Macro Soft Corporation. Required: Prepare the cash flows from operating...
-
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in thousands) for Peach Computers. Required: 1. Calculate each of the...
-
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Mike Roe Computers. Required: 1. Calculate each of the following amounts for...
-
6- Where is "bunds Payable" account recorded in the balance sheet? A)Long Term Liabilities B) Non Current Assets C) Current Assets D) Owner's Equity
-
Explain which portions of the material previously discussed in this text are reflected in the three equations DSGE model discussed at the end of this chapter. What kind of a shock to this simple...
-
Use a graphing utility to find the derivative of each function at the given number. f(x) = x sinx at /4
-
Identify the steps involved in designing an attribute sampling plan for cash disbursements?
-
Schroeder parked his car in a parking lot operated by Allright, Inc. On the parking stub given him was printed in large, heavy type that the lot closed at 6:00 P.M. Under this information, printed in...
-
Look at this papr it's needs editing down trimming down and refining the papr. Free to include yr own suggestions When adding to the papr, please avoid using AI-generated content. Our expansion plan...
-
Sterling Wyatt, the president of Howlett Industries, has been exploring ways of improving the companys financial performance. Howlett manufactures and sells office equipment to retailers. The...
-
Refer to the situation described in BE 215. What would be the amount(s) related to the bonds that Agee would report in its statement of cash flows for the year ended December 31, 2024, if it uses the...
-
Im so confused, your study partner snarls, throwing up his hands in exasperation. As part of our teams group project, I need to find out how much cash Microsoft spent on leases last year, and their...
-
Which of the following equations are balanced? a. 6Na + Fe 2 O 3 2Fe + 3Na 2 O b. MnO + 4HCl MnCl 2 + 2H 2 O + Cl 2 c. C4H 10 + 9O 2 4CO 2 + 5H 2 O d. 3H 2 S + 2HNO 3 3S + 2NO + 4H 2 O
-
Fred is very generous. During the current year he made gifts as described below. In the case of each gift, state whether any portion of the gift constitutes a present interest for purposes of ...
-
11. Mr. Bautista aims to have his investment grow to Php. 500.000 in 4 years. How much should he invest in an account that pays 5% compound annually? 12. How long will it take Php. 1,000 to earn...
-
A band performs on stage for 1 hour, 50 minutes. Their one opening act performs on stage for 40% as long as the band. When you combine the band and their opening act, how many minutes does the...
-
A marathon runner finishes her race in exactly 4.5 hours. She decides to train so that she can reduce her time to run the race by at least 6%. What time is she hoping to come in at (or under)? Your...
-
3. (10 pts) Consider the following set of data. 12, 13, 13, 15, 16, 17, 18, 20, 20, 20, 22, 26. Compute the sample mean, median, mode, as well as the sample standard deviation of the above set of...
-
List imidazole, pyrrole, and benzene in order of decreasing reactivity toward electrophilic aromatic substitution.
-
The polar coordinates of a point are given. Find the rectangular coordinates of the point. (-1, - /3)
-
The following questions are used in the Kaplan CPA Review Course to study long-term liabilities while preparing for the CPA examination. Determine the response that best completes the statements or...
-
The following questions dealing with long-term liabilities are adapted from questions that previously appeared on Certified Management Accountant (CMA) examinations. The CMA designation sponsored by...
-
On January 1, 2011, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated January 1. The bonds mature in 2030 (20 years). The market yield for bonds of similar risk and maturity...
-
Joey set up a lawn-mowing business in his neighborhood. He currently has 7 customers that want their lawns mowed each week, for which he charges $25.00 each. Joey spends $10.00 a week in gas and...
-
Vanessa has an outstanding bond with a 7.10 % semi-annual coupon and has 16 years left to mature. The current market rate is 10.50% per annum. What is the current yield of Vanessa's Bond.
-
Estimate the hydrogen consumption required to completely remove the sulfur from a hydrotreater feedstock and to reduce the nitrogen content of the product to 15 ppm by weight. The 48.5 API naphtha...
Study smarter with the SolutionInn App