Maurice Tutor

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$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 6 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Jul 2017 My Price 11.00

schedule reconciling cash flows

The income statement and a schedule reconciling cash flows from operating activities to net income are provided below ($ in millions) for Mike Roe Computers. MIKE ROE COMPUTERS Income Statement For the Year Ended December 31, 2013 Sales $ 149.80 Cost of goods sold (89.90) Gross margin 59.90 Salaries expense $ 19.80 Insurance expense 11.80 Depreciation expense 4.90 Interest expense 5.90 (42.40) Gains and losses: Gain on sale of equipment 11.80 Loss on sale of land (2.80) Income before tax 26.50 Income tax expense (13.25) Net income $ 13.25 Reconciliation of Net Income to Net Cash Flows from Operating Activities Net income $ 13.25 Adjustments for noncash effects: Decrease in accounts receivable 4.90 Gain on sale of equipment (11.80) Increase in inventory (5.90) Increase in accounts payable 8.90 Increase in salaries payable 2.90 Depreciation expense 4.90 Decrease in bond discount 2.95 Decrease in prepaid insurance 1.90 Loss on sale of land 2.80 Increase in income tax payable 5.90 Net cash flows from operating activities $ 30.70 Required: 1. Calculate each of the following amounts for Mike Roe Computers: (Enter your answers in millions of dollars rounded to 2 decimal places. Input all amounts as positive values.) ($ in millions) a. Cash received from customers during the reporting period. $ b. Cash paid to suppliers of goods during the reporting period. $ c. Cash paid to employees during the reporting period. $ d. Cash paid for interest during the reporting period. $ e. Cash paid for insurance during the reporting period. $ f. Cash paid for income taxes during the reporting period. $ 2. Prepare the cash flows from operating activities section of the statement of cash flows (direct method). (Enter your answers in millions of dollars rounded to 2 decimal places.Amounts to be deducted should be indicated with a minus sign.) ($ in millions) Cash Flows From Operating Activities: (Click to select)Cash paid to suppliersCash paid for income taxesTo bondholdersCash paid to employeesCash paid for insuranceCash received from customersFor depreciation expenseCash paid for interest $ (Click to select)Cash received from customersCash paid for interestCash paid for insuranceFor depreciation expenseCash paid for income taxesCash paid to employeesTo bondholdersCash paid to suppliers (Click to select)Cash paid to employeesTo bondholdersCash received from customersCash paid for insuranceCash paid for income taxesFor depreciation expenseCash paid for interestCash paid to suppliers (Click to select)To bondholdersCash received from customersCash paid for interestCash paid for income taxesCash paid to employeesCash paid to suppliersCash paid for insuranceFor depreciation expense (Click to select)For depreciation expenseCash paid to suppliersCash paid for income taxesCash paid to employeesCash paid for interestCash paid for insuranceCash received from customersTo bondholders (Click to select)Cash paid for interestCash paid for insuranceCash paid to suppliersFor depreciation expenseCash paid for income taxesCash received from customersTo bondholdersCash paid to employees Net cash flows from operating activities $

Answers

(5)
Status NEW Posted 12 Jul 2017 08:07 AM My Price 11.00

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