Indirect method assuming net income

Assignment Help Accounting Basics
Reference no: EM13127364

The comparative balance sheets for G Company for 2010 show these changes in non-cash current assets accounts: accounts receivables increase $82,000, prepaid expenses increased by $10,000, inventory increased by $14,000. Also, cash increased by $12,000 and there was a purchase of a BMW for $45,000. Compute the net cash provided by operating activities using the indirect method assuming that net income was $125,000 for the year.

Reference no: EM13127364

Questions Cloud

Future projections concerning interest rates : As the financial manager in developing forecast for the firm, where would you go to in order to start your forecast and refine it with more accurate future projections concerning interest rates, raw material prices, and the like to build your esti..
Describe the costs and other factors that campbell soup : Describe the costs and other factors that Campbell Soup should consider for this special order and also provide your conclusion assuming you had sufficient information
Is granger stokes using budgets as a planning and control : Is Granger Stokes using budgets as a planning and control tool?
Determining value of discriminant : State the value of the discriminant and then describe the nature of the solution. What is the value of the discriminant?
Indirect method assuming net income : Compute the net cash provided by operating activities using the indirect method assuming that net income was $125,000 for the year.
Use steps of hypothesis testing for researcher-s theory : Using the .05 level, do the results support the researcher's theory? (a) Use the steps of hypothesis testing, (b) sketch the distributions involved.
Breakeven analysis-sample question : Micromedia offers computer training seminars on a variety of topics. In the seminars each studen works at a personal computer, practicing the particular activity that the instructor is presenting.
How much energy (in kilojoules) is required : How much energy (in kilojoules) is required to convert 110 mL of diethyl ether at its boiling point from liquid to vapor if its density is 0.7138 ?
Poem presentation-after great pain, a formal feeling comes : need the Theme, Point of view,Plot, Character, and a summary of the poem for a presentation-After great pain, a formal feeling comes

Reviews

Write a Review

Accounting Basics Questions & Answers

  Unfavorable materials quantity variance

There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:

  Write a short memo in irac format

Write a short MEMO in IRAC format - Issues, rules, analysis and conclusion. Wheeler purchased two parcels of real property for $10,000 each in Year 1 and held the property for investment.

  Preparing a well organized and formatted schedule

Sue ask for you to prepare a well organized and formatted schedule showing what the variable manufacturing cost is as a percentage of total sales for each of the three product sales for 2007.

  Reported net asset balance of categories

What should be the reported net asset balance of the following categories during 2011: permanent restricted, temporarily restricted, unrestricted.

  Internet research of sole proprietorships

Conduct literature and internet research of sole proprietorships, partnerships, and corporations. Discuss the three business forms in terms of how they are formed, managed, and how they operate as business entities.

  Recording assets under ifrs

Converse corp sold 100,000 bond at 95 and incurred 3,000 of bond issuance costs. Which of the following statements is correct assuming converge reports under IFRS?

  Find the differences in accounting for these two situations

In the second situation, the exchange lacks commercial substance. Please explain to Stan, in your own words, the differences in accounting for these two situations.

  Successful efforts method of accounting for oil exploration

Using the successful efforts method of accounting for oil and gas exploration costs, how much exploration expense would be shown in Exploratory's income statement for 2013?

  Prepare the journal entry to recognize the income tax

Prepare the journal entry to recognize the income tax benefit of the operating loss. Airparts elects the carryback option.

  Reveal total overhead costs

A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed overhead of $120,000. The budget for 25,000 hours would reveal total overhead costs of:

  Total number of equivalent units for materials

Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period?

  Forecasting recurring revenue

I understand that non-recurring items such as adjustments for changes in accounting methods, extraordinary gains/losses, income from discontinued operations, etc. must not be included. However, what items should I address?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd