- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 1 (50.27 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 2 (52.1 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 3 (39.35 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 4 (41.91 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 5 (41.36 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 6 (39.15 KiB) Viewed 11 times
- Required Information Exercise 12 12 Algo Indirect Preparing Statement Of Cash Flows Lo P2 P3 A1 The Following Info 7 (42.78 KiB) Viewed 11 times
Wages payable Income taxes payable Total current liabilities. Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings Total liabilities and equity IKIBAN INCORPORATED Income Statement For Year Ended June 30, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Other gains (losses) Gain on sale of equipment Income before taxes Income taxes expense Net income 6,200 3,600 36,800 32,000 68,800 224,000 49,900 $ 342,700 Additional Information. 15,400 4,200 52,600 62,000 114,600 162,000 24,700 $ 301,300 $ 688,000 413,000 275,000 69,000 60,600 145,400 2,200 147,600 44,090 $ 103,510
Additional Information. a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $59,600 cash. d. Received cash for the sale of equipment that had cost $50,600, yielding a $2,200 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement f. All purchases and sales of inventory are on credit Exercise 12-12 (Algo) Part 1 Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021
Required: (1) Prepare a statement of cash flows using the indirect method for the year ended June 30, 2021. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities IKIBAN, INCORPORATED Statement of Cash Flows (Indirect Method) For Year Ended June 30, 2021 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities - Prev G 12 of 2 Next >
Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities Cash flows from investing activities
Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end
Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. b. The only changes affecting retained earnings are net income and cash dividends paid. c. New equipment is acquired for $59,600 cash. d. Received cash for the sale of equipment that had cost $50,600, yielding a $2,200 gain. e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement. f. All purchases and sales of inventory are on credit. Exercise 12-12 (Algo) Part 2 (2) Compute the company's cash flow on total assets ratio for its fiscal year 2021. Cash Flow on Total Assets Ratio Choose Denominator: Choose Numerator: Cash Flow on Total Assets Ratio Cash flow on total assets ratio