Homework Quiz—18 S11 Section 2

Homework Quiz—18 S11 Section 2 - Deduct:...

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Homework Quiz —18 Spring 2011 Section 2 Name Section ABC Company has the following information for the year ended 2010. Item Amount Accounts payable decrease $10,000 Accounts receivable decrease 14,000 Common stock increase 50,000 Depreciation expense 43,000 Gain on sale of land 29,000 Income taxes payable increase (current) 12,000 Inventory increase 32,000 Investment in CDE Common stock increase (current) 30,000 Long-term debt increase 30,000 Net income 84,000 Notes payable decrease (current) 27,000 Prepaid rent increase 21,000 Property, plant and equipment decrease 80,000 Treasury stock decrease 18,000 Required : In the table below enter the Cash Flow From Operations (Indirect Method) for ABC Company for 2010. Item Amount Net income $84,000 Add: Depreciation expense 43,000 Deduct: Gain on sale of land (29,000) Add: Accounts receivable decrease 14,000 Add: Income taxes payable increase 12,000 Deduct: Prepaid rent increase (21,000)
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Unformatted text preview: Deduct: Accounts payable decrease (10,000) Deduct: Inventory increase (32,000) Cash Flow From Operations $61,000 1 Homework Quiz —18 Spring 2011 Section 2 Name Section ABC Company has the following information for the year ended 2010. Item Amount Accounts payable decrease $10,000 Accounts receivable decrease 14,000 Common stock increase 50,000 Depreciation expense 43,000 Gain on sale of land 29,000 Income taxes payable increase (current) 12,000 Inventory increase 32,000 Investment in CDE Common stock increase (current) 30,000 Long-term debt increase 30,000 Net income 84,000 Notes payable decrease (current) 27,000 Prepaid rent increase 21,000 Property, plant and equipment decrease 80,000 Treasury stock decrease 18,000 Required : In the table below enter the Cash Flow From Operations (Indirect Method) for ABC Company for 2010. Item Amount 2...
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This note was uploaded on 03/03/2012 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue.

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Homework Quiz—18 S11 Section 2 - Deduct:...

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