Reference no: EM131212970
Use the following information to answer parts A and B.
Sales $755,000
COGS 543,000
Gross profit 212,000
Depreciation 20,000
Other operating Expenses 121,000
Operating income 71,000
Loss on disposal of Assets 5,000
Pretax Income 66,000
Income taxes $40,000
Additional Information:
Accounts receivable increased by 10,000 during the year
inventory decreased by 30,000 during the year
Property Plant and Equipment increased by 15,000
Accounts payable increased by 24,000
Other accrued liabilities decreased by 13,000
Debt (long and short) increased by 25,000
Equity increased by 5,000
A. Prepare a reconciliation of Net income cash flow from operating activities
B. Based solely on above how much cash was paid for merchandise inventory during the year?
|
How much interest expense is to be recognize and recorded
: You are asked to evaluate a five-year, convertible debt offering being considered by management. This offering, effective January 1, 2013, is for $40 million. It would be issued at 2% below prevailing interest rates at the time of issuance and is due..
|
|
Calculate the increase in corporate income
: Division A’s cost accounting records show that the cost of its product is $151 per unit—$118 in variable costs and $33 in fixed costs. The market price of the product, $162, barely covers Division A’s cost of production plus its selling and administr..
|
|
Estimate the free cash flow of each project
: FNCE5010 Corporate Financial Management Assignment - Case study. Using the financial and qualitative information provided in the case, estimate the free cash flow (FCF) of each project from 2010 to 2020
|
|
Does fraud still exist in financial reporting
: Does fraud still exist in financial reporting? A financial reporter recently suggested that over 90% of all companies prepare statements that are in accordance with Generally Accepted Accounting Principles (GAAP). If this statement is true and the as..
|
|
Prepare reconciliation of net income cash flow
: Prepare a reconciliation of Net income cash flow from operating activities. Based solely on above how much cash was paid for merchandise inventory during the year?
|
|
Draw a free body diagram for the weight on the image below
: Draw a free body diagram for the weight on the image below. For each force acting on the weight, draw an arrow starting at the black dot. The lengths of the arrows will not be graded, but be sure to accurately draw the direction of each arrow.
|
|
Production process at premium casting
: Decision to Use Transfer Prices ACCOUNTING CONNECTION The production process at Premium Castings includes eight processes, each of which is currently treated as a cost center with a specific set of operations to perform on each casting produced. Foll..
|
|
Describe the impact of those challenges on today leaders
: Discuss at least three-four core competencies that you think leaders need to be effective in today's environment. Explain how these competencies will address the challenges you identified.
|
|
What is value reported on the consolidated balance sheet
: On Jan 1, 2013, the Sub acquires land, at a cost of $250,000 and a Building with a cost of $625,000. The building has a $50,000 salvage value and a 15 year estimated useful life. On Jun 30, 2020, the Sub sells the land and the building to the parent ..
|