Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. portions of the financial statements for peach com

Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement...

50.1K

Verified Solution

Question

Accounting

imageimage

Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $1,825,000 Expenses: Cost of goods sold $1,060,000 Operating expenses 570,000 Depreciation expense 51,000 Income tax expense 41,000 Total expenses 1,722,000 Net income $ 103,000 PEACH COMPUTER Selected Balance Sheet Data December 31 Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable 2021 $103,000 45,100 76,000 3,100 46,000 5,100 2020 $85,500 49,500 55,500 5,200 37,500 10,500 Increase (I) or Decrease (D) $17,500 (1) 4,400 (D) 20,500 (I) 2,100 (D) 8,500 (I) 5,400 (D) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2021 Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities $ 0

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Q23 Which L C A O of two O atoms produce given shape molecular orbitals...

Chemistry
1.2K views

A single charcoal briquette has a mass of 0.1 kg, and is made up of almost...

Medical Sciences
1.2K views

What is the Upper limb? Briefly explain the parts of the the upper limb.

Physics
1.2K views

A 180 g mass attached to a horizontal spring oscillates at a frequency of 2.80 Hz. At...

Advance Math
1.2K views

A natural cubic spline S is defined by S(x) = { S0(x) = a0 + b0(x...

Physics
1.2K views

14 In the given electrical networks shown in Figs 3 185 a and b identical...

Basic Math
1.2K views

Yogi's picnic basket contains two types of lunch meat and four kinds of bread.Boo Boo's...

Algebra
1.2K views

Every complex number has a conjugate partner For instance a bi and a bi are...

Accounting
1.2K views

Instructions The following accounts appear in the ledger of Celso and Company as...

Accounting
1.2K views

Upon the recommendation of a physician, George has special windows installed in his personal residence....

Accounting
1.2K views

In a process cost system the entry to transfer costs for one department to another...

Accounting
1.2K views

In your initial post, summarize the key concepts and benefits of economic order quantity (EOQ)....