A company's income statement showed the following: net income, $128,000 and depreciation expense, $31,200. An examinationof the company's current assets and current liabilities showed the following changes: accounts receivable decreased $9,800;merchandise inventory increased $18,800; and accounts payable increased $3,800. Calculate the net cash provided or used byoperating activities.Multiple Choice$122,000.$164,400.$126,800.< Prev14 of 30Nex >

Cash flows from Operating activities : Net income $128,000 (+) Depreciation $31,200 (+)…

Answered: A company's income statement showed the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information to compute net change in cash for a firm: Net income for the year is $43,900 Account receivable increased by $10,420 Inventory increased by $1,875 Depreciation expense for the year is $8,000 Account payable decreased by $5,782 Other current liabilities increased by $3,500 Taxes payable decreased by $1,970 Old equipment with a book value of $2,200 was sold for $1,325 Old appliances were sold for $24,000 at a gain of $4,800 A new machine was purchased for $10,000 1,000 shares of common stock were issued at par value of $10 each and sold at par (for $10 each) Declared and paid dividends of $5,000 Reimbursed $7,000 of an outstanding loan’s capital
Rogers Company reported net income of $47,097 for the year. During the year, accounts receivable increased by $5,480, accounts payable decreased by $4,933 and depreciation expense of $76,852 was recorded. Net cash flows from operating activities for the year is a. $124,496 b. $113,536 c. $47,097 d. $134,362
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
Accounts receivable from sales transactions were $45,878 at the beginning of the year and $60,085 at the end of the year. Net income reported on the income statement for the year was $139,730. Exclusive of the effect of other adjustments, what is the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method?
Macrosoft Company reports net income of $73,000. The accounting records reveal depreciation expense of $88,000 as well as increases in prepaid rent, accounts payable, and income tax payable of $68,000, 11,000, and $22,000, respectively Prepare the operating activities section of Macrosoft's statement of cash flows using the indirect method(List cash outflows and any decrease in cash as negative amounts.
Accounts receivable arising from sales to customers amounted to $80,000 and $71,000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $293,000. Exclusive of the effect of the other adjustments, the cash flow from operating activities to be reported in the indirect statement of cash flows is
45. Last year Lawsby Company reported sales of 120,000 on its income statement. During the year, accounts receivable increased by 10,000 and accounts payable increased by 15,000. The company uses the direct method to determine the net cash provided by the operating activities on the statement of cash flows. The sales revenue adjusted to a cash basis for the year would be:
n its fiscal 2010 balance sheet, Big Lots, Inc., reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, the cash and cash equivalents had decreased to $177,539 thousand. The company's statement of cash flows reported cash from operating activities of $315,257 thousand, cash from financing activities of ($306,899) thousand. What amount did the company report for cash from investing activities? Select one: a. $8,358 thousand cash inflow b. $106,194 thousand cash outflow c. $114,552 thousand cash outflow d. $114,552 thousand cash inflow e. None of the above.
Filton Company reported net income of $44,204 for the year. During the year, accounts receivable increased by $7,925, accounts payable decreased by $4,003 and depreciation expense of $46,347 was recorded. Find the net cash provided by operating activities for the year. Select the correct answer. $44,204 $78,623 $102,479 $94,473
The comparative balance sheets for Layton Company show these changes in noncash current asset accounts: Accounts receivable decrease: $83,700, Prepaid expenses increase: $27,180, and Inventories increase: $29,290. Compute net cash provided by operating activities using the indirect method assuming that net income is $180,980.

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