What amount was paid to suppliers for operating expense

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Reference no: EM131215594

1) Avatar Company uses the indirect method to prepare its statement of cash flows. Please refer to the following portion of the comparative balance sheet:

 

2014

2013

Increase/decrease

Cash

$  21,000

$  18,000

 $  3,000

Accounts receivable

31,000

35,000

(4,000)

Inventory

53,000

25,000

28,000

PP&E, net

120,000

90,000

30,000

    Total assets

$225,000

$168,000

$57,000

Additional information provided:

                 Equipment costing $52,000 was purchased for cash.

                 Equipment with a net asset value of $10,000 was sold for $14,000.

                 Depreciation expense of $12,000 was recorded during the year.

Please use the following T-account format to analyze the transactions affecting net Property, plant & equipment:

                Property, plant & equipment, net

90,000

 

 

 

 

 

 

 

 

 

2 ) Avatar Company uses the indirect method to prepare its statement of cash flows and provides  following information about transactions for the year:

         Plant assets, net-beginning balance:             $90,000

         Plant assets, net-ending balance:  $120,000

         Equipment costing $52,000 was purchased for cash

         Equipment with a net asset value of $10,000 was sold for $14,000

         Depreciation expense of $12,000 was recorded during the year

What was the net amount of Cash from investing activities?

3) Avatar Company uses the direct method to prepare its statement of cash flows.  Please refer to the following information reported for the year 2014:

                       Operating expenses                                                                               $23,000

                       Accrued liabilities beginning balance:                                                     $1,000

                       Accrued liabilities ending balance:                                                          $2,000

What amount was paid to suppliers for operating expenses on a cash basis?

12) Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year 2013:

From the income statement:

                Revenues:                            $240,000

                Cost of goods sold:              $190,000

                Operating expenses:             $25,000

From the balance sheet:                             Beginning balance              Ending balance

                Accounts receivable:                           $12,000                                 $15,000

                Inventory:                                              $22,000                                 $18,000

                Accounts payable:                                 $7,000                                 $12,000

                Accrued liabilities:                                  $3,000                                    $1,200

On the statement of cash flows, what amount will be shown for collections from customers?

Reference no: EM131215594

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