Use the following information to calculate the net cash provided (inflow) or used by (outflow) from...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the following information to calculate the net cash provided (inflow) or used by (outflow) from operating activities for the STAR Corporation: (a) Net income, $72,000 (b) Depreciation and amortization $8,000 (c) Gain on sale of equipment $ 2,000 (d) Gain on selling investments $26,000 (e) Decrease in accounts receivable $4,000 (f) Increase in Accounts payable $3,000 (g) Issuance of common stock $ 60,000 (h) bad debts expense $ 5,000 (i) Dividends paid $ 22,000 (Note: in the answer space, write only the number, with no $ signs or commas. That is, if your answer is $1,000, white it as : 1000 ). Answer: Use the following information to calculate the net cash provided (inflow) or used by (outflow) from operating activities for the STAR Corporation: (a) Net income, $72,000 (b) Depreciation and amortization $8,000 (c) Gain on sale of equipment $ 2,000 (d) Gain on selling investments $26,000 (e) Decrease in accounts receivable $4,000 (f) Increase in Accounts payable $3,000 (g) Issuance of common stock $ 60,000 (h) bad debts expense $ 5,000 (i) Dividends paid $ 22,000 (Note: in the answer space, write only the number, with no $ signs or commas. That is, if your answer is $1,000, white it as : 1000 ). Answer:
Expert Answer:
Answer rating: 100% (QA)
Answer Statement of cash flow Partial Operating activities Net income 72000 Add Adju... View the full answer
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Posted Date:
Students also viewed these accounting questions
-
Cleveland Company has a stock portfolio valued at $4,910 (available-for-sale). Its cost was $4,270. If the Fair Value Adjustment account has a debit balance of $247, prepare the journal entry at...
-
During the first month of operations ended January 31, 2015, Hip and Conscious Clothing Company produced 55,500 designer cowboy hats, of which 51,450 were sold. Operating data for the month are...
-
During the first month of operations ended January 31, 2014, Head Gear Inc. manufactured 6,400 hats, of which 5,200 were sold. Operating data for the month are summarized as follows: During February...
-
A simple beam AB of span length L = 24ft is subjected to two wheel loads acting at distance = 5 ft apart (see figure). Each wheel transmits a load P = 3.0 k, and the carriage may occupy any position...
-
Use a Pareto chart to display the data set. Describe any patterns. Use the data set, which represents the results of a survey that asked U.S. adults where they would be at midnight when the new year...
-
Which of the following statements is true? a. Murabaha, an equity instrument, is a sales contract in which the asset is sold by the bank to the customer at costplus- profit. b. Salam is a forward...
-
Vann Stubbs started Stubbs Carpet Installers, Inc., and during the first month of operations (December 2011) the business completed the following selected transactions: a. Stubbs began the business...
-
A large retailer reported revenue of $1,665,000. The companys gross profit percentage was 44 percent. What amount of cost of goods sold did the company report?
-
Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates that it uses for...
-
The balance sheet of the Universal Sour Candy Company is given in Table Q16.9. Assume that all balance sheet items are expressed in terms of market values. The company has decided to pay a $2,000...
-
Oriole Company manufactures cappuccino makers. For the first eight months of 2022, the company reported the following operating results while operating at 80% of plant capacity: Sales (440,000 units)...
-
Is performance management system the same as performance management cycle?
-
Josephine and Sunhee are playing shuffleboard on the deck of a cruise ship. The ship is sailing du e north at a speed of 3.0 m/s. If Sunhee slides her puck along the deck, from the front toward the...
-
Capacitors in Circuits 3. (3) Find the equivalent capacitance of the capacitor shown in the figure on the right. V = 4.0 V, C1 190 nF, C2-150 nF, C3=290 nF and C4=420 nF. V C3 C
-
How has organizational culture been a factor in the success of a business?
-
How does multiple-factor authentication improve security?
-
Assume that 1 Gallon of fuel-grade ethanol has a value of $4. Assume that NJIT has a yearly revenue of $2 Billion (it doesn't, but assume it does). Compare the ratio of NJIT revenue per acre to the...
-
A city maintains a solid waste landfill that was 12 percent filled at the end of Year 1 and 26 percent filled at the end of Year 2. During those periods, the government estimated that total closure...
-
Assume Plastic Products, Inc., purchased conveyor-belt machinery. Classify each of the following expenditures as a capital expenditure or an immediate expense related to machinery: a. Sales tax paid...
-
Donn Communications, Inc., is preparing its cash budget for 2012. Donn ended 2011 with cash of $88 million, and managers need to keep a cash balance of at least $79 million for operations....
-
Fast Pass Company manufactures a popular brand of footballs. Fast Pass employs 142 workers and keeps its employment records on time sheets that show how many hours the employee works each week. On...
-
True or False. The motion diminishes to zero in both underdamped and overdamped cases.
-
True or False. The loss coefficient denotes the energy dissipated per radian per unit strain energy.
-
True or False. The complex stiffness can be used to find the damping force in a system with hysteresis damping.
Study smarter with the SolutionInn App