Homework Quiz—18 S11 Section 3

Homework Quiz—18 S11 Section 3 - (10,000)...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Homework Quiz —18 Spring 2011 Section 3 Name Section ABC Company has the following information for the year ended 2010. Item Amount Accounts payable decrease $10,000 Accounts receivable increase 14,000 Common stock increase 50,000 Depreciation expense 43,000 Income taxes payable increase (current) 12,000 Inventory decrease 32,000 Investment in CDE Common stock increase (current) 30,000 Long-term debt increase 25,000 Loss on sale of land 29,000 Net income 84,000 Notes payable decrease (current) 27,000 Prepaid rent decrease 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 Add: Loss on sale of land 29,000 Add: Accounts receivable increase (14,000) Add: Income taxes payable increase 12,000 Add: Prepaid rent decrease 21,000 Deduct: Accounts payable decrease
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: (10,000) Deduct: Inventory decrease 32,000 Cash Flow From Operations $197,000 1 Homework Quiz 18 Spring 2011 Section 3 Name Section ABC Company has the following information for the year ended 2010. Item Amount Accounts payable decrease $10,000 Accounts receivable increase 14,000 Common stock increase 50,000 Depreciation expense 43,000 Income taxes payable increase (current) 12,000 Inventory decrease 32,000 Investment in CDE Common stock increase (current) 30,000 Long-term debt increase 25,000 Loss on sale of land 29,000 Net income 84,000 Notes payable decrease (current) 27,000 Prepaid rent decrease 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...
View Full Document

Page1 / 2

Homework Quiz—18 S11 Section 3 - (10,000)...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online