The net income of Blue-Sky Ltd. for the year ended March 31, 2021 was Rs. 4,89,000. Depreciation charged for the year was Rs. 87,000. Income for the year was arrived at after adjusting for gain on sale of land Rs. 1,05,000, loss on sale of equipment Rs. 48,000 and writing off cost of equity issue Rs. 25,000. The current assets and current liabilities of Blue Sky Ltd. as March 31, 2020 and 2021 are given here: 31-Mar-20 31-Mar-21 Rs. Rs. Stocks 1,85,000 1,67,000 Receivables 1,42,000 1,45,000 Prepaid Expenses 12,000 8,000 Cash in hand and at bank 17,000 32,000 Payables 95,000 1,07,000 Expenses outstanding 13,000 9,000 Bank Overdraft 60,000 80,000 Required: Calculate cash from operating activities. don't give hand written answers plz

The net income of Blue-Sky Ltd. for the year ended March 31, 2021 was Rs. 4,89,000. Depreciation charged for the year was Rs. 87,000. Income for the year was arrived at after adjusting for gain on sale of land Rs. 1,05,000, loss on sale of equipment Rs. 48,000 and writing off cost of equity issue Rs. 25,000. The current assets and current liabilities of Blue Sky Ltd. as March 31, 2020 and 2021 are given here: 31-Mar-20 31-Mar-21 Rs. Rs. Stocks 1,85,000 1,67,000 Receivables 1,42,000 1,45,000 Prepaid Expenses 12,000 8,000 Cash in hand and at bank 17,000 32,000 Payables 95,000 1,07,000 Expenses outstanding 13,000 9,000 Bank Overdraft 60,000 80,000 Required: Calculate cash from operating activities. don't give hand written answers plz

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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Following is a list of items relating to the financial statements of YKN Bhd for the year ended 31December 2020• Amortisation of intangible assets of RM346,339• Corporate tax rate is at 24%.• Finance costs of RM831,138• Finance income of RM173,421• Gain due to exchange differences from translating functional currencies into presentationcurrency of RM120,000• Gain on disposals of major subsidiaries amounted to RM1,500• Gain on sales of manufacturing operating segment of RM100,000• Gains on re-measuring available-for-sale investment of RM80,000• Loss on litigation settlements of RM2,125,000• Loss amounted to RM450,000 due to disposal of its cotton mills, which constitute amajor line of business• Loss arising from translating the financial statements of a foreign operation of RM33,000• Loss from disposal of financial assets of RM50,000• Loss on disposals of items of property, plant and equipment of RM34,000• Loss on impairment of goodwill of RM110,000• Loss on re-measuring financial…
Following is a list of items relating to the financial statements of YKN Bhd for the year ended 31December 2020• Amortisation of intangible assets of RM346,339• Corporate tax rate is at 24%.• Finance costs of RM831,138• Finance income of RM173,421• Gain due to exchange differences from translating functional currencies into presentationcurrency of RM120,000• Gain on disposals of major subsidiaries amounted to RM1,500• Gain on sales of manufacturing operating segment of RM100,000• Gains on re-measuring available-for-sale investment of RM80,000• Loss on litigation settlements of RM2,125,000• Loss amounted to RM450,000 due to disposal of its cotton mills, which constitute amajor line of business• Loss arising from translating the financial statements of a foreign operation of RM33,000• Loss from disposal of financial assets of RM50,000• Loss on disposals of items of property, plant and equipment of RM34,000• Loss on impairment of goodwill of RM110,000• Loss on re-measuring financial…
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The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were $34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts receivable Inventories End a. $370,545 b. $208,919 c. $347,601 Od. $278,217 $47,146 124,126 102,601 4,506 45,924 Beginning $57,260 104,236 93,932 7,914 66,937 Prepaid expenses Accounts payable (merchandise creditors) What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
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Presented below is the balance sheet of Sheffield Corporation for the current year, 2025. Current assets Investments 643,870 Property, plant, and equipment 1,723,870 Intangible assets 305,000 1. 2. 3. The following information is presented. The current assets section includes cash $153,870, accounts receivable $173,870 less $13,870 for allowance for doubtful accounts, inventories $183,870, and unearned rent revenue $8,870. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. 4. 5. Sheffield Corporation Balance Sheet December 31, 2025 $ 488,870 6. 7. $3,161,610 Current liabilities Long-term liabilities Stockholders' equity $ 383,870 1,003,870 1,773,870 $3,161,610 The investments section includes the cash surrender value of a life insurance contract $43,870; investments in common stock, short-term $83,870 and long-term $273,870; and bond sinking fund $242,260. The cost and fair value of investments in common stock are the same. Property, plant, and equipment includes…
The following is an extract from the statements of financial position of Carp plc as at 31 December 2020 and 2021: Plant and equipment (carrying amount) 2020 £m 268 O a. (£87m) O b. (£84m) O c. (£76m) O d. (£65m) 2021 £m 343 During the year to 31 December 2021 the following transactions took place: 1. Interest received was £llm 2. Depreciation of plant and equipment during the year was £23m There were no disposals of non-current assets during the year. What was the appropriate figure for net cash from investing activities for reporting in the statement of cashflows for the year ending 31 December 2021?

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	*31-Mar-20*	*31-Mar-21*
Rs.	Rs.
Stocks	1,85,000	1,67,000
Receivables	1,42,000	1,45,000
Prepaid Expenses	12,000	8,000
Cash in hand and at bank	17,000	32,000
Payables	95,000	1,07,000
Expenses outstanding	13,000	9,000
Bank Overdraft	60,000	80,000