Reference no: EM132543554
Question 1. Mari Company reported the following facts and figures for 2018 and 2019:
2018 2019
Accounts receivable 150,000 120,000
Prepaid expenses 9,000 10,000
Accounts payable 65,000 80,000
Salaries payable 12,000 5,000
Net income 200,000
Depreciation expense 14,000
Gain on sale of equipment 6,000
If Mari Company uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2019?
Question 2. Camil Company reported the following data for 2018 and 2019.
Prepaid insurance, December 31, 2018 14,000
Prepaid insurance, December 31, 2019 11,500
Insurance expense, 2019 25,200
How much cash was paid for insurance during 2019?
Question 3. Cold and Flu presented the following information for 2018 and 2019. Inventory was not reported as there was no change in inventory from December 31,2 018 to December 31, 2019.
Accounts payable, December 31, 2018 95,000
Accounts payable December 31, 2019 50,000
Cost of goods sold, 2019 560,000
How much cash was paid for inventory during 2019?
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How much cash was paid to suppliers for inventory purchases
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What amount reported as net cash inflow from operating
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What amount should camil company report as cash
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Prepare the cost of goods manufactured schedule
: Finished goods 10,000 12,000 Costs incurred: raw materials purchases $62,500, direct labor $51,000, Prepare the cost of goods manufactured schedule
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