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Exercise 16-16
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
a.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Stock-based compensation expense (noncash)
Losses on inventory write down and fixed assets
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in inventory
Decrease in prepaid expenses
Decrease in accounts payable and other current liabilities
Net cash flow from operating activities
b.
Cash flows from operating activities:
[Key essay answer here]
Score:
Key Code:
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
NATIONAL BEVERAGE CO.
Cash Flows from Operating Activities
(in thousands)
Name:
Section:
Exercise 16-16
Instructions
Answers are entered in the cells with gray backgrounds.
a.
Net income 43,993$
Adjustments to reconcile net income to net cash
flow from operating activities:
b.
National Beverage is doing well financially. The company has positive earnings and positive net cash
flow from operating activities. The company continues to grow, and the trend in recent years has been
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
Score:
NATIONAL BEVERAGE CO.
Cash Flows from Operating Activities
(in thousands)
Cash flows from operating activities:
Name:
Section:
Solution
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ON
Exercise 16-17
Instructions
Answers are entered in the cells with gray backgrounds.
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
a.
Net income
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
Loss on inventory write down and fixed assets
Changes in current operating assets and liabilities:
Net cash flow from operating activities
Net cash flow from investing activities
Net cash flow from financing activities
Cash at the beginning of the year
Cash at the end of the year
b.
Increase in cash
[Key essay answer here]
Cash flows from investing activities:
Cash flows from financing activities:
Key Code:
0%
[Key code here]
Cells with non-gray backgrounds are protected and cannot be edited.
PELICAN JOE INDUSTRIES INC.
Statement of Cash Flows
Name:
Section:
For the Year Ended December 31, 2016
Cash flows from operating activities:
Score:
Exercise 16-17
Instructions
Answers are entered in the cells with gray backgrounds.
a.
Net income 325$
Adjustments to reconcile net income to net cash
flow from operating activities:
Changes in current operating assets and liabilities:
(80)
125$
175$
b.
Solution
Cash received from sale of common stock
Cash flows from financing activities:
Name:
Section:
Cash flows from investing activities:
Cash received from sale of land
Increase in accounts receivable
Cells with non-gray backgrounds are protected and cannot be edited.
ON
Pelican Joe Industries Inc.’s net income was more than the cash flows from
operations because of:
$30 of depreciation expense, which has no effect on cash.
Changes in current operating assets and liabilities that are added or deducted,
depending on their effect on cash flows:
Increase in accounts receivable, $80 deducted
Increase in inventories, $65 deducted
Increase in accounts payable, $15 added
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
Score:
PELICAN JOE INDUSTRIES INC.
Statement of Cash Flows
For the Year Ended December 31, 2016
Cash flows from operating activities:
Pelican Joe Industries Inc.’s net income was more than the cash flows from
operations because of:
$30 of depreciation expense, which has no effect on cash.
A $75 gain on the sale of land. The proceeds from this sale of $125, which
include the gain, are reported in the Investing Activities section of the
statement of cash flows.
Changes in current operating assets and liabilities that are added or deducted,
