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MrRissso [65]
2 years ago
5

Anthony Inc. reported net income of $270,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $2

1,000 respectively. Ending balances in these accounts were $10,500 and $29,000, respectively. Using just this information what is Anthony Inc.'s net cash flows from operating activities?
Business
1 answer:
Natalka [10]2 years ago
3 0

Answer:

$268,500

Explanation:

When you use the indirect method to calculate net cash flows, you start with net income and then adjust it by:

  • adding the amount by which accounts receivable decreased = ($17,000 - $10,500) = $6,500
  • deducting the amount by which accounts payable increases = ($21,000 - $29,000) = -$8,000

net cash flow from operating activities = $270,000 + $6,500 - $8,000 = $268,500

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Economics can be defined as the study of?
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For whom resources are allocated to increase efficiency. economics can as well be described as the production, distribution and consumption of goods and services. scarce resources that have alternative uses 
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2 years ago
The following is the stockholders' equity section of Harbor Co.'s balance sheet on December 31: Common stock $10 par, 100,000 sh
Murljashka [212]

Answer:

The book value of shares is $10

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To ascertain the unit of shares,see below:

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Which also means that $1,100,000 is for 110,000units of shares.

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8 0
3 years ago
During the year, Belyk Paving Co. had sales of $2,485,000. Cost of goods sold, administrative and selling expenses, and deprecia
Afina-wow [57]

Answer:

$888,000

Explanation:

In order to determine how much new debt was added, we must calculate cash flows:

first we need to determine net income:

sales ($2,485,000) - COGS ($1,349,000) - S&A expenses ($660,000) - depreciation expense ($462,000) = EBIT = $14,000

since EBIT is lower than interest expense ($14,000 ≤ $287,000), we can assume there was a loss. But the question tells us to ignore any tax losses. So net income = $14,000 - $287,000 = -$273,000

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there were not capital spending and no new investments made, so cash flow from investing activities = $0

so the net cash flow from assets = $189,000

net cash flow form assets = net cash flow from stockholders + net cash flow from liabilities

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$189,000 = -$412,000 + net cash flow from liabilities

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6 0
3 years ago
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