The accounting staff of Lambert Company has assembled the following Information for the year ended December...
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The accounting staff of Lambert Company has assembled the following Information for the year ended December 31 of the current year. Cash sales Credit sales Collections on accounts receivable Cash transferred from the money market fund to the general bank account Interest and dividends received Purchases (all on account) Payments on accounts payable to merchandise suppliers Cash payments for operating expenses Interest paid Income taxes paid Loans made to borrowers Collections on loans (excluding receipts of interest) Cash paid to acquire plant assets Book value of plant assets sold Loss on sales of plant assets Proceeds from issuing bonds payable Dividenda paid Cash and cash equivalents, Jan. 1 Complete this question by entering your answers in the tabs below. Reg A Required: a. Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. b-1. Compute the amount of collections from customers. b-2. Compute the amount of cash paid to suppliers and employees. b-3. Compute the amount of proceeds from sales of plant assets. Req B1 $ 793,000 2,500,000 2,205,000 250,000 100,000 1,800,000 1,460,000 1,055,000 Req 82 180,000 95,000 500,000 260,000 3,100,000 658,400 75,900 2,500,000 120,000 512,000 Req 83 Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. (List any deduction in cash and cash outflows as negative amounts.) The accounting staff of Lambert Company has assembled the following Information for the year ended December 31 of the current year. Cash sales Credit sales Collections on accounts receivable Cash transferred from the money market fund to the general bank account Interest and dividends received Purchases (all on account) Payments on accounts payable to merchandise suppliers Cash payments for operating expenses Interest paid Income taxes paid Loans made to borrowers Collections on loans (excluding receipts of interest) Cash paid to acquire plant assets Book value of plant assets sold Loss on sales of plant assets Proceeds from issuing bonds payable Dividenda paid Cash and cash equivalents, Jan. 1 Complete this question by entering your answers in the tabs below. Reg A Required: a. Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. b-1. Compute the amount of collections from customers. b-2. Compute the amount of cash paid to suppliers and employees. b-3. Compute the amount of proceeds from sales of plant assets. Req B1 $ 793,000 2,500,000 2,205,000 250,000 100,000 1,800,000 1,460,000 1,055,000 Req 82 180,000 95,000 500,000 260,000 3,100,000 658,400 75,900 2,500,000 120,000 512,000 Req 83 Prepare a statement of cash flows. Use the direct method of reporting cash flows from operating activities. (List any deduction in cash and cash outflows as negative amounts.)
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Calculations Operating Activities Cash received from customers Collections on accounts receivable 22... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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