020 is $18,500 • There were no disposals of PP&E during the period. • The accumulated depreciation balance was $76,000 and $91,000 at the end of 2019 and 2020, respectively. Answer the following questions related to calculating Macejkovic Corp's operating cash flows using the indirect method for the year ended 12/31/2020. Do not leave any cell blank! Q1: To arrive at operating cash flows, what adjustment (if any) is made to Net Income for Depreciation Expense? $ If the adjustment is positive, enter your answer as a positive number. If the adjustment is negative, enter your answer as a negative number. If there is no adjustment, please enter 0. Q2: To arrive at operating cash flows, what adjustment (if any) is made to Net Income for Gains and Losses? $ If the adjustment is positive, enter your answer as a positive number. If the adjustment is negative, enter your answer as a negative number. If there is no adjustment, please enter 0. Q3: What are operating cash flows for Macejkovic Corp for the year ended 12/31/2020: $ Enter net cash inflows as a positive number and net cash outflows as a negative number. Ť
020 is $18,500 • There were no disposals of PP&E during the period. • The accumulated depreciation balance was $76,000 and $91,000 at the end of 2019 and 2020, respectively. Answer the following questions related to calculating Macejkovic Corp's operating cash flows using the indirect method for the year ended 12/31/2020. Do not leave any cell blank! Q1: To arrive at operating cash flows, what adjustment (if any) is made to Net Income for Depreciation Expense? $ If the adjustment is positive, enter your answer as a positive number. If the adjustment is negative, enter your answer as a negative number. If there is no adjustment, please enter 0. Q2: To arrive at operating cash flows, what adjustment (if any) is made to Net Income for Gains and Losses? $ If the adjustment is positive, enter your answer as a positive number. If the adjustment is negative, enter your answer as a negative number. If there is no adjustment, please enter 0. Q3: What are operating cash flows for Macejkovic Corp for the year ended 12/31/2020: $ Enter net cash inflows as a positive number and net cash outflows as a negative number. Ť
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
ss
Transcribed Image Text:• Net income for 12/31/2020 is $18,500
• There were no disposals of PP&E during the period.
• The accumulated depreciation balance was $76,000 and $91,000 at the end of
2019 and 2020, respectively.
Answer the following questions related to calculating Macejkovic Corp's operating
cash flows using the indirect method for the year ended 12/31/2020. Do not leave
any cell blank!
Q1: To arrive at operating cash flows, what adjustment (if any) is made to Net Income
for Depreciation Expense? $
If the adjustment is positive,
enter your answer as a positive number. If the adjustment is negative, enter your
answer as a negative number. If there is no adjustment, please enter 0.
Q2: To arrive at operating cash flows, what adjustment (if any) is made to Net Income
for Gains and Losses? $
If the adjustment is positive,
enter your answer as a positive number. If the adjustment is negative, enter your
answer as a negative number. If there is no adjustment, please enter 0.
Q3: What are operating cash flows for Macejkovic Corp for the year ended
12/31/2020: $
Enter net cash inflows as a positive
number and net cash outflows as a negative number.
Ť
Transcribed Image Text:You are given the following financial statement information for Macejkovic Corp:
Balance Sheet
Cash
Accounts
Receivable
Inventory
Prepaid
Expenses
Total
Current
Assets
Property and
Equipment, net
TOTAL
ASSETS
Wages Payable
Bonds Payable
TOTAL
LIABILITIES
12/31/2020
111,000
20,600
14,200
3,100
148,900
160,000
308,900
52,000
152,000
204,000
12/31/2019
64,250
25,500
15,400
2,400
107,550
128,000
235,550
48,500
75,000
123,500
तं
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