Byp Accounting

Topics: Accounts receivable, Balance sheet, Generally Accepted Accounting Principles Pages: 3 (606 words) Published: April 12, 2011
The financial statements of Tootsie Roll Industries are presented in Appendix A.| |

|

InstructionsAnswer the following questions. | (a)  | What was the amount of net cash provided by operating activities for 2007? The amount of net cash provided by operating activities for 2007 was $ 90,064,000 For 2006? $ 55,656,000 What were some causes of any significant changes in cash from operations between 2006 and 2007? Include a change in Tootsie Roll’s account receivable and other receivables, prepaid expenses and other taxes, income taxes payable and deferred, and inventories from 2006 and 2007.| |

(b)  | What was the amount of increase or decrease in cash and cash equivalents for the year ended December 31, 2007? There was a $ 1,877 increase in cash and cash equivalents for the year ended December 31, 2007.| |

(c)  | Which method of computing net cash provided by operating activities does Tootsie Roll use? Tootsie Roll uses Indirect Method to compute net cash provided by operations. | |
(d)  | From your analysis of the 2007 statement of cash flows, was the change in accounts receivable a decrease or an increase? There was a decrease in accounts receivable. Was the change in inventories a decrease or an increase? There was an decrease in inventories during 2007. Was the change in accounts payable a decrease or an increase? There was a decrease in accounts payable in 2007. | |

(e)  | What was the net cash used by investing activities for 2007? The net cash used by inventing activities for 2007 was $43,345,000| |
(f)  | What was the amount of interest paid in 2007? The amount of interest paid in 2007 was $537,000 What was the amount of income taxes paid in 2007? The amount of income taxes paid in 2007 was $11,343,000|

|
|

|
|

BYP12-9  | In this chapter you learned that companies prepare a statement of cash flows in order to keep track of their sources and uses of cash and to help them plan for their future...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Accounting Essay
  • Accounting Notes on Cash Flows Essay
  • Accounting Essay
  • Accounting Week 9 Final Essay
  • accounting Essay
  • Accounting Principles Essay
  • Riordan Manufacturing Accounting System Analysis Essay
  • Creative Accounting Essay

Become a StudyMode Member

Sign Up - It's Free