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Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   End of Year Beginning of Year Cash $73,000   $76,650   Accounts receivable (net) 92,560   94,590   Inventories 182,500   162,960   Prepaid expenses 10,150   10,810   Accounts payable (merchandise creditors) 81,540   85,540   Salaries payable 11,750   10,650   Question Content Area a.  Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankblankStatement of Cash Flows (partial) Cash flows from operating activities:       $- Select -   Adjustments to reconcile net income to net cash flow from operating activities:       - Select -   Changes in current operating assets and liabilities:       - Select -     - Select -     - Select -     - Select -     - Select -   Net cash flow from operating activities   $fill in the blank 0b4225fa6006ff6_15   Feedback Area

Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:   End of Year Beginning of Year Cash $73,000   $76,650   Accounts receivable (net) 92,560   94,590   Inventories 182,500   162,960   Prepaid expenses 10,150   10,810   Accounts payable (merchandise creditors) 81,540   85,540   Salaries payable 11,750   10,650   Question Content Area a.  Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankblankStatement of Cash Flows (partial) Cash flows from operating activities:       $- Select -   Adjustments to reconcile net income to net cash flow from operating activities:       - Select -   Changes in current operating assets and liabilities:       - Select -     - Select -     - Select -     - Select -     - Select -   Net cash flow from operating activities   $fill in the blank 0b4225fa6006ff6_15   Feedback Area

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Cash Flows from Operating Activities—Indirect Method

The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:

  End of Year Beginning of Year
Cash $73,000   $76,650  
Accounts receivable (net) 92,560   94,590  
Inventories 182,500   162,960  
Prepaid expenses 10,150   10,810  
Accounts payable (merchandise creditors) 81,540   85,540  
Salaries payable 11,750   10,650  

Question Content Area

a.  Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

blankblankStatement of Cash Flows (partial)
Cash flows from operating activities:    
 
 $- Select -  
Adjustments to reconcile net income to net cash flow from operating activities:    
 
 - Select -  
Changes in current operating assets and liabilities:    
 
 - Select -  
 
 - Select -  
 
 - Select -  
 
 - Select -  
 
 - Select -  
Net cash flow from operating activities   $fill in the blank 0b4225fa6006ff6_15
 

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