Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp .
Question:
Selected data (in thousands) derived from the income statement and balance sheet of National Beverage Corp . for a recent year are as follows:
Income statement data:
Net income .......................................... $49,311
Gain on disposal of property ......................... 1,188
Depreciation expense ................................. 11,580
Other items involving noncash expenses ............ 1,383
Balance sheet data:
Increase in accounts receivable ......................... 1,746
Decrease in inventory ...................................... 990
Increase in prepaid expenses .............................. 605
Decrease in accounts payable ............................ 710
Decrease in accrued and other current liabilities ......... 995
a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method for National Beverage Corp.
b. Interpret your results in part (A).
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Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Step by Step Answer:
a NATIONAL BEVERAGE CO Cash Flows from Operating Activities in thousands Cash flows from ...View the full answer
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
