Questions from Accounting Principles

Q: Use the following income statement and information about changes in non-

Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the direct method: Changes...

Q: Rosetta Inc.’s records contain the following information about the 2020

Rosetta Inc.’s records contain the following information about the 2020 cash flows. Required Prepare a statement of cash flows using the direct method and a note describing non-cash...

Q: Pace Oil & Gas Corp. began operations in 2018. Its

Pace Oil & Gas Corp. began operations in 2018. Its balance sheet reported the following components of equity on December 31, 2018. The corporation completed these transactions during 2019 and 2020...

Q: The summarized journal entries below show the total debits and credits to

The summarized journal entries below show the total debits and credits to the Zebra Corporation’s Cash account during 2020. Required Use the information to prepare a statement of cas...

Q: Making adjustments to derive cash flow from operating activities (indirect method

Making adjustments to derive cash flow from operating activities (indirect method) Indicate by an X in the appropriate column whether an item is added or subtracted to derive cash flow from operating...

Q: The account balances for the non-cash current assets and current

The account balances for the non-cash current assets and current liabilities of Kid-game Software Inc. are as follows: During 2020, Kid-game Software Inc. reported depreciation expense of $57,000. All...

Q: Green Forest Corp.’s 2020 income statement showed the following:

Green Forest Corp.’s 2020 income statement showed the following: profit, $292,600; depreciation expense, building, $43,000; depreciation expense, equipment, $6,630; and gain on sale of equipment, $7,0...

Q: Analyzing cash inflows and outflows Required: Which of the

Analyzing cash inflows and outflows Required: Which of the three competing corporations is in the strongest relative position as indicated by its comparative statements of cash flows?

Q: Use the following income statement and information about changes in non-

Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method: Chang...

Q: Required: Use the Western Environmental Inc. information given below to

Required: Use the Western Environmental Inc. information given below to prepare a statement of cash flows for the year ended June 30, 2020, using the indirect method. a. A note is retired at carrying...