The net income for the year ended on September 30, 2020 for TC Corporation was $111,000. Additional data for the year is provided below. Loss on retirement of debt $19,900 Purchase of property, plant & equipment $280,000 Depreciation of property, plant & |equipment $10,700 Dividends declared $42,000 Decrease in office supplies $21,000 Loss on sale of land $13,000 Issue of common shares $17,200 Calculate the increase or decrease in cash from operating activities.

The net income for the year ended on September 30, 2020 for TC Corporation was $111,000. Additional data for the year is provided below. Loss on retirement of debt $19,900 Purchase of property, plant & equipment $280,000 Depreciation of property, plant & |equipment $10,700 Dividends declared $42,000 Decrease in office supplies $21,000 Loss on sale of land $13,000 Issue of common shares $17,200 Calculate the increase or decrease in cash from operating activities.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter18: Accounting For Income Taxes

Section: Chapter Questions

Problem 12P: Comprehensive Colt Company reports pretax financial income of 143,000 in 2019. In addition to pretax...

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Take me to the text The net income for the year ended on January 31, 2020 for SC Corporation was $139,000. Additional data for the year is provided below. Loss on retirement of debt $10,600 $272,000 Purchase of property, plant & equipment Depreciation of property, plant & equipment $13,900 Dividends declared $60,000 $33,000 $18,000 $12,400 Decrease in accounts receivable Loss on sale of equipment Issue of common shares Calculate the increase or decrease in cash from operating activities. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Increase or decrease in cash from operating activities = $ Check
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The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATIONBalance SheetsDecember 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 138,880 $ 118,000 Accounts receivable 74,000 90,000 Inventory 93,000 78,000 Investments 3,800 1,800 Long-term assets: Land 460,000 460,000 Equipment 770,000 650,000 Less: Accumulated depreciation (408,000 ) (248,000 ) Total assets $ 1,131,680 $ 1,149,800 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 97,600 $ 83,000 Interest payable 5,500 11,800 Income tax payable 7,500 4,800 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock…
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