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  • Traditional HW 10, 11

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    J Company reported $1,250,000 in net income for the period. After adjusting for non-cash expenses like depreciation of $400,000 and a gain on asset sale of $150,000, as well as changes in working capital accounts, the company generated $1,332,000 in net cash from operating activities. Penderson Company reported $90,000 in net income for the year. After adjusting for depreciation of $55,000, a loss on asset sale of $53,000, and changes in prepaid and payable accounts, the company generated $159,000 in net cash from operating activities. Cash flows from investing included $157,000 used to purchase

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    J Company reported $1,250,000 in net income for the period. After adjusting for non-cash expenses like depreciation of $400,000 and a gain on asset sale of $150,000, as well as changes in working capital accounts, the company generated $1,332,000 in net cash from operating activities. Penderson Company reported $90,000 in net income for the year. After adjusting for depreciation of $55,000, a loss on asset sale of $53,000, and changes in prepaid and payable accounts, the company generated $159,000 in net cash from operating activities. Cash flows from investing included $157,000 used to purchase

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    48 views1 page

    Traditional HW 10, 11

    Uploaded by

    gShOnEy8
    J Company reported $1,250,000 in net income for the period. After adjusting for non-cash expenses like depreciation of $400,000 and a gain on asset sale of $150,000, as well as changes in working capital accounts, the company generated $1,332,000 in net cash from operating activities. Penderson Company reported $90,000 in net income for the year. After adjusting for depreciation of $55,000, a loss on asset sale of $53,000, and changes in prepaid and payable accounts, the company generated $159,000 in net cash from operating activities. Cash flows from investing included $157,000 used to purchase

    Copyright:

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    of 1

    J Company

    Cash flows from operating activities


    Net Income $1,250,000
    Depreciation Expense $400,000
    Gain on sale of PP&E $(150,000)
    Increase in accounts receivable $(200,000)
    Decrease in prepaid expenses $300,000
    Decrease in accounts payable $(143,000)
    Decrease in unearned revenue $(125,000) $82,000
    Net cash provided by operating activities $1,332,000

    Penderson Company
    Statement of Cash Flows
    For The Year Ended December 31, 2007
    Cash flows from operating activities
    Net Income $90,000
    Adjustments to reconcile net income
    to net cash provided by operating
    activities:
    Depreciation Expense $55,000
    Loss on sale of plant assets $53,000
    payable $196,000
    Increase in prepaids $(235,000) $69,000
    Net cash provided by operating activities $159,000
    Cash flows from investing activities
    Purchase of PP&E $(157,000)
    Sale of PP&E $7,000
    Net cash provided by investing activities $(150,000)
    Cash flows from financing activities
    Money borrowed $250,000
    Payment of Long-term debt $(100,000)
    Purchase of company stock $(40,000)
    Payment of cash dividends $(50,000)
    Paid-in capital $100,000
    Net cash provided by financing activities $160,000

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