Lino Companys worksheet for the preparation of its 20X1 statement of cash flows included the following information:

Question:

Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information:

Lino’s 20X1 net income is $150,000.

Required:

What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Reporting And Analysis

ISBN: 9781260247848

8th Edition

Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer

See More Books

Question Posted: Nov 13, 2020 01:56 AM

See More Questions

Lino Companys worksheet for the preparation of its 2014 statement of cash flows included the following information: Linos 2014 net income is $150,000. Required: What amount should Lino include as net...
Lino Company's worksheet for the preparation of its 2017 statement of cash flows included the following information: ________________________________December 31 January 1 Accounts...
The following information is available for the Bott Company: Additional information for the year: (a) (b) Last year depreciation expense was inadvertently understated in the amount of $1,800. The...
State the date (or dates) on which corporation tax is due for payment in relation to the following periods of account: (a) the year to 31 March 2021 (b) the six months to 30 November 2020 (c) the 21...
Complete the following statement: The smaller the p-value associated with a test of hypothesis, the stronger the support for the hypothesis. Explain your answer.
Reanalyze the example on film content that was presented in this chapter. Notice that the data set is structured with empathy scored on a scale ranging from none (0) to high (10). Sexual content is a...
Why is the concept of an ongoing concern important to the interpretation of financial statements?
Goliath Corporation issues $300,000 of bonds for $312,000. (a) Prepare the journal entry to record the issuance of the bonds, and (b) Show how the bonds would be reported on the balance sheet at the...
When you drop 10 pebbles into the well, you record the times for hearing the splash as 2.94 s, 3.11 s, 3.12 s, 2.97 s, 3.12 s, 2.97 s, 3.06 s, 3.21 s, 3.37 s, and 3.53 s. (a) Find the average time...
An object consists of a ball of weight W glued to the end of a uniform bar also of weight W. If you release it from rest, with the bar horizontal, what will its behavior be as it falls if air...
The management of Banciu Corporation provides you with comparative balance sheets at December 31, 20X1, and December 31, 20X0, appearing below. Supplemental Information: a. The following table...
The Barden Corporations comparative balance sheets for 20X1 and 20X0 are presented below. Income Statement for the Year Ended December 31, 20X1 $ 1,600,000 2,000 44,000 1,646,000 720,000 386,000...
There are 1733 machinery rebuilding and repairing companies in the United States. A tool manufacturer wishes to survey a simple random sample of these firms to find out what proportion of them are...
Jameson has the following sources of income: Sole proprietorship income $40,000 General partnership operating income $5,000 Interest income from general partnership $1,200. What is the amount of...
Delta Supplies Corp produces a small appliance device. Its fixed cost is $3,000 and variable cost is $2.00 per unit. If Delta manufactures 1,000 units, what is the total cost of this production?
The Cheers Partnership was organized and began business in March of the current year. Under the partnership agreement, Sam's distributive share of the partnership income is 60%. In addition, the...
45 A museum employee surveys a random sample of 350 visitors to the museum. Of those visitors, 266 stopped at the gift shop. Based on these results, about how many people out of 2,300 visitors to the...
Delcon International Corporation has the following budgeted and actual data. What is Delcon's predetermined overhead rate, based on direct labor cost? Budgeted annual overhead for planned production...
A recent study by Consumer Reports showed that 64% of supermarket shoppers believed that supermarket brands are as good as national brands. To test this claim, the manufacturer of a national name...
Digital Fruit is financed solely by common stock and has outstanding 25 million shares with a market price of $10 a share. It now announces that it intends to issue $160 million of debt and to use...
Friedmans Inc. is a leading fine jewelry retailer. In November 2004, the company said that it might default on certain of the financial covenants contained in one of the company loan agreements. Here...
Locate the most recent annual report of Toshiba Corporation, the large Japanese electronics company, on the companys website: www.toshiba.co.jp. You will find an electronic copy of the annual report...
Locate the most recent annual report of Toshiba Corporation, the large Japanese electronics company, on the companys website: www.toshiba.co.jp. You will find an electronic copy of the annual report...
The first video I have for your discussion is "Shock and Awe:The Story of Electricity" Part 1 is called "Spark"It runs from 0:00 to about 58 min, on the following link....
Find the present value of a 1 0 - year annuity of $ 8 0 0 0 per annum, given the interest rate of 6 % for the first year, 7 % for the second year, 8 % for the third year, 9 % for the fourth year, and...
The management accounting team of XYZ plc also came up with some questions and requested you to explain/answer them for the upcoming board meeting: 1. A chain of XYZ plc, BHealthy Ltd is a wholesale...

Lino Companys worksheet for the preparation of its 20X1 statement of cash flows included the following information:

Question:

December 31 January 1 Accounts receivable $23,000 $29,000 1,000 8,200 Allowance for uncollectible accounts 800 Prepaid rent expense Accounts payable 12,400 19,400 22,400

Step by Step Answer:

Linos net cash from operating activities is calculated below ...View the full answer

Financial Reporting And Analysis

Students also viewed these Business questions