A company had net income of $252,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method? Answer a. $284,000. b. $217,000. c. $224,000. d. $305,000. О

A company had net income of $252,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method? Answer a. $284,000. b. $217,000. c. $224,000. d. $305,000. О

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

See similar textbooks

Similar questions

A company had net income of $245,163. Depreciation expense was $20,638. During the year, accounts receivable and merchandise inventory increased by $17,398 and $35,807, respectively. Prepaid expenses and accounts payable decreased by $2,538 and $7,959, respectively. There was also a loss on the sale of equipment of $7,335. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method? a. $214,510 b. $273,136 c. $260,148 d. $199,840
A company had net income of $287,208. Depreciation expense was $20,306. During the year, accounts receivable and inventory increased by $15,568 and $33,238, respectively. Prepaid expenses and accounts payable decreased by $2,691 and $6,595, respectively. There was also a loss on the sale of equipment of $3,381. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
A company had net income of $253,836 and depreciation expense of $22,640. During the year, accounts receivable and inventory increased by $18,973 and $39,330, respectively. Prepaid expenses and accounts payable decreased by $3,860 and $7,659, respectively. There was also a loss on the sale of equipment of $7,527. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method?
A company had net income of $244,839. Depreciation expense is $20,103. During the year, Accounts Receivable and Inventory increased by $18,423 and $39,765, respectively. Prepaid Expenses and Accounts Payable decreased by $2,854 and $5,603, respectively. There was also a loss on the sale of equipment of $6,008. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
Disturbed, Inc., had the following operating results for the past year: sales = $22,616; depreciation = $1,480; interest expense = $1,192; costs = $16,575. The tax rate for the year was 38 percent. What was the company's operating cash flow? $2,089 $3,369 $4,761 $7,321 $3,213
Staley Inc. reported the following data: Net income: $465,400 Depreciation expense: $68,100 Loss on disposal of equipment: $29,900 Increase in accounts receivable: $21,700 Increase in accounts payable: $12,700 Compute cash flow from operating activities
A company had net income of $252,000. Depreciation expense was $26,000. During the year, accounts receivable and merchandise inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method? *(305K, 224K or 284K)
Magic Mirror Company had net income of $850,750. Depreciation expense is $85,000. During the year, accounts receivable and inventory increased by $62,500 and $72,600, respectively. Prepaid expenses and accounts payable decreased by $39,100 and $46,500, respectively. There was also a gain on the sale of equipment of $18,250. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
Disturbed, Incorporated, had the following operating results for the past year: sales = $22,563; depreciation = $1,360; interest expense = $1,096; costs = $16,515. The tax rate for the year was 23 percent. What was the company's operating cash flow?
A company had net income of $252,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased by $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased by $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method? Oa. $284,000 Ob. $224,000 Oc. $217,000 Od. $305,000
Net income reported on the income statement for the current year was $240,000. Depreciation was $52,000. Accounts receivable and inventories decreased by $5,000 and $15,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $500 and $14,000. Investments were sold at a loss of $20,000. How much cash was provided by operating activities? O $345.500 O $317,500 O $307,500 O $258,500
A company had a profit of P230,000. Depreciation expense is P26,000. During the year, Accounts Receivable and Inventory increased P15,000 and P40,000, respectively. Prepaid Expenses and Accounts Payable decreased P2,000 and P4,000, respectively. There was also a loss on the sale of equipment of P3,000. How much cash was provided by operating activities? O a.P196,000. O b. P202,000. OC. P276,000. Od. P288,000.