Assume a company's net cash provided by operating activities is $86,000. It provided the following excerpts fromits balance sheet:This YearLast YearCurrent assets:$ 40,000$ 53,000$ 13,000$ 46,000$ 50,000$ 11,000Accounts receivableInventoryPrepaid expensesCurrent liabilities:$ 38,000$ 18,000$ 13,000$ 44,000$ 15,000$ 10,000Accounts payableAccrued liabilitiesIncome taxes payableAlso assume the company incurred a loss on the sale of equipment of $4,000 and the credits to its accumulateddepreciation account are $21,000. Based solely on the information provided, the company's net income wouldbe: Assume a company had net income of $60,000. It provided the following excerpts from its balance sheet:This Year Last YearCurrent assets:$ 41,000$ 57,000$ 46,000$ 53,000Accounts receivableInventoryCurrent liabilities:$ 42,000$ 14,000$ 49,000$ 14,000Accounts payableIncome taxes payableThe company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000and its accumulated depreciation at the time of sale was $65,000. The company's accumulated depreciationaccount has beginning and ending balances of $320,000 and $280,000, respectively. Based solely on theinformation provided, the net cash provided by operating activities would be:

Operating Activities - Under this activity all the company operation-related activities like sales,…

Answered: Assume a company's net cash provided by…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Assume a company had net income of $62,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 41,000 $ 46,000 Inventory $ 57,000 $ 53,000 Current liabilities: Accounts payable $ 42,000 $ 49,000 Income taxes payable $ 14,000 $ 14,000 The company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company’s accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Based solely on the information provided, the net cash provided by operating activities would be: Multiple Choice $71,000. $73,000. $83,000. $76,000.
An entity reported the following information during the first year of operations: Pretax financial income 9,000,000 Nontaxable interest received 1,000,000 Long-term loss accrual in excess of deductible amount 1,500,000 Tax depreciation in excess of financial depreciation 2,000,000 Income tax rate 30% What is the total tax expense?
Assume a company had net income of $79,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities: Accounts payable $ 38,000 $ 44,000 Accrued liabilities $ 18,000 $ 15,000 Income taxes payable $ 13,000 $ 10,000 If the credits to the company’s accumulated depreciation account were $21,000, then based solely on the information provided, the company’s net cash provided by (used in) operating activities would be: Multiple Choice $63,000. $55,000. $105,000. $97,000.
From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%
A company had a gross income of $45,000 last year. The firm had cash expenses of $23,500. In addition to the cash expenses, the firm bought a piece of land for $10,000. Depreciation expences were $11,575. The taxable income in last year was: A. $12,555 B. $2,255 C. $1,125 D. $33,265 E. $11,125
Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was $97,925 in the same account, and the company's income statement showed depreciation expense of $13,935 for the year. What was the company's net capital spending for the year? Multiple Choice O $35,685 $43,580 $21,750 $41,170 $83,990
OG Corporation’s balance sheet and income statement is listed below. Balance Sheet This Year Last Year Cash 50,000 40,000 Accounts receivable 80,000 60,000 Inventories 180,000 110,000 Plant & equipment 300,000 260,000 Less accumulated depreciation -40,000 -20,000 Total assets 570,000 450,000 Accounts payable 100,000 150,000 Accrued…
Data for item nos. 24 & 25 Di Ka Na Mahal Company reported the following information during the first year of operations: P 9,000,000 1,000,000 1,500,000 2,000,000 30% Pretax financial income Nontaxable interest received Long-term loss accrual in excess of deductible amount Tax depreciation in excess of financial depreciation Income tax rate 24. What is the current tax expense? A. P2,250,000 C. P1,800,000 B. P2,700,000 D. P2,550,000 25. What is the deferred tax asset at the year-end? В. Р450,000 С. Р750,000 A. P600,000 D. P150,000
Refer to the following financial information of Scholz Company: NOPAT 8,250,000 FBITDA 17,725,000 Net Income 5,050,000 Capital Expenditures 6,820,000 After tax capital costs 6,280,000 Tax rate 40% 1.Calculate the Company's depreciation and amortization expense 2. Refer to Scholz Company, calculate its interest expense. Use 2 decimal places for your final answer. 3. Refer to Scholz Company, calculate its EVA. Use 2 decimal places for your final answer
OG Corporation’s balance sheet and income statement is listed below. Balance Sheet This Year Last Year Cash 50,000 40,000 Accounts receivable 80,000 60,000 Inventories 180,000 110,000 Plant & equipment 300,000 260,000 Less accumulated depreciation -40,000 -20,000 Total assets 570,000 450,000 Accounts payable 100,000 150,000 Accrued…
Financial Information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization Earnings before interest and taxes (EBIT) Interest Assets Cash and equivalents Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Accruals Earnings before taxes (EBT) Taxes (25%) Net Income Common dividends Powell Panther Corporation: Balance Sheets as of December 31 (millions of dollars) 2020 2021: $ b. What was the 2021 free cash flow? 2021 $3,300.0 2,805.0 $495.0 $ 2020 $3,000.0 2,550.0 $450.0 72.0 $378.0 66.0 $312.0 124.8 $187.2 $181.6 $149.8 -Select- 86.0 $ 409.0 72.6 $ 336.4 134.6 $201.8 2021 50.0 $ 483.0 725.0 $1,258.0 864.0 $2,122.0 $264.0 225.0 Notes payable 66.0 Total current liabilities $ 555.0 Long-term bonds 660.0 Total liabilities…
Refer to the following financial information of Scholz Company: NOPAT 8,250,000.00 EBITDA 17,725,000.00 Net Income 5,050,000.00 Capital Expenditures 6,820,000.00 After tax capital costs 6,280,000.00 Tax rate 40% Calculate the Company's depreciation and amortization expense

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