问题如下:
Under U.S. GAAP, cash flow from operations is:
选项:
A.$75,000.
B.$100,000.
C.$115,000.
解释:
B is correct.
CFO=Net income - profit on sale of building + depreciation = 55,000 - 15,000 + 60,000 = $100,000
The profit on the sale of the building should be subtracted from net income, and that taxes and interest are already deducted in calculating net income.
计算CFO有直接法和间接法两种方法。根据题目数据,可以判断应该用间接法计算。
从NI出发,需要调整:
①损益表中的Non-cash items和non-operating items
②资产负债表中net changes in working capital(AR、inventory、AP)
题目表格中的数据有损益表数据,有资产负债表的数据,也有现金流量表中的数据等,我们要从中挑选我们所需要的的调整项目。
Depreciation:non-cash item 属于调整项。
Tax paid、Interest received、Dividends received、Cash received from sale of company's equipment:现金流量表数据,不考虑。
其中,Cash received from sale of company’s equipment是出售设备收到的现金,属于CFI流入。
Issuance of preferred stock是发行优先股,收到的钱属于CFF流入,也不属于我们应该考虑的调整项。
Repurchase of common stock是公司用自己的钱回购自己发行的股票,属于CFF的流出,,也不属于我们应该考虑的调整项。
Purchase of machinery是买设备,属于CFI流出,也不属于我们应该考虑的调整项。
Issuance of bonds是发债券,属于CFF流入,也不属于我们应该考虑的调整项。
Debt retired through issuance of common stock是通过发行普通股筹集资金,用筹集的资金来偿还债务,类似于可转债转换为股票,这个活动并不会产生现金流的变化。不考虑。
Paid off long-term bank borrowings是还清银行贷款,属于CFF的流出。也不属于我们应该考虑的调整项。
Profit on sale of building是利润表的科目,
综上,我们应该考虑的调整项只有depreciation和Profit on sale of building。
CFO=Net income - profit on sale of building + depreciation = 55,000 - 15,000 + 60,000 = $100,000
- profit on sale of building
不是刚刚在前面一题里说了是属于 CFI 么?为啥这里算 CFO 又要考虑进去了?