Crane, Inc. reported net income of $2.65 million in 2022. Depreciation for the year was $169,600, accounts receivable decreased$371,000, and accounts payable decreased $296,800.Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - signe.g.-15,000 or in parenthesis e.g. (15,000).)

Cash flow from operating activities indicates the cash inflow or outflow transactions related to the…

Answered: Crane, Inc. reported net income of…

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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Fidelity Systems reports net income of $81 million. Included in that number is depreciation expense of $9 million, and a gain on the sale of equipment of $2 million. Records reveal increases in Accounts Receivable, Inventory, and Accounts Payable of $3 million, $3 million, and $2 million, respectively. Calculate Fidelity's net cash flows from operating activities using the indirect method. (Negative value should be indicated by minus sign. Enter your answer in millions.) Net cash flows from operating activities million
Crane Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Crane had sales revenue of $197,500 and operating expenses of $71,300. Accounts receivable and accounts payable at year-end were $62,400 and $18,300, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided by operating activities GA $ 84,162
The net income for Swifty Corporation for 2022 was $260,100, For 2022, depreciation on plant assets was $67,800, and the company incurred a loss on disposal of plant assets of $27,100. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000))
Prepare the operating activities section of the statement of cash flows using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. The following income statement and additional year-end information is provided. SONAD COMPANY Income Statement For Year Ended December 31 Sales $ 2,189,000 Cost of goods sold 1,072,610 Gross profit 1,116,390 Operating expenses Salaries expense $ 299,893 Depreciation expense 52,536 Rent expense 59,103 Amortization expenses—Patents 6,567 Utilities expense 24,079 442,178 674,212 Gain on sale of equipment 8,756 Net income $ 682,968 Accounts receivable $ 46,450 increase Accounts payable $ 12,900 decrease Inventory 13,500 increase Salaries payable 5,150 decrease
The net income for Crane Co. for 2022 was $305,000. For 2022, depreciation on plant assets was $65,200, and the company incurred a loss on disposal of plant assets of $27,600. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash Flows from Operating Activities Net Income Crane Co. Statement of Cash Flows-Indirect Method For the Year Ended December 31, 2022 Adjustments to reconcile net income to Depreciation Expense Loss on Disposal of Plant Assets v $ 65200 27,600 $ $ 305000 397800
Blossom Company reported net income of $148,500. For 2022, depreciation was $45,100, and the company reported a gain on sale of Investments of $12.100. Accounts recelvable increased $25,100 and accounts payable decreased $23.100. Compute net cash provided by operating activities using the indirect method. Net cash provided by operating activities
Alpha Computers reports net income of $45 million. Included in that number is depreciation expense of $8 million, and a loss on the sale of land of $1 million. Records reveal decreases in Accounts Receivable, Inventory, and Accounts Payable of $5 million, $3 million, and $1 million, respectively. Calculate Alpha Computers' net cash flows from operating activities using the indirect method. (Negative value should be indicated by minus sign. Enter your answer in millions.) Net cash flows from operating activities million
Rogers Company reported net income of $43,319 for the year. During the year, accounts receivable increased by $7,282, accounts payable decreased by $3,300, and depreciation expense of $7,495 was recorded. Net cash provided by operating activities under the indirect method for the year is?
Nash's Trading Post, LLC reported net income of $60300 for the year 2022. During 2022, accounts receivable increased by $4020, accounts payable decreased by $2680 and depreciation expense of $6700 was recorded. Net cash provided by operating activities for 2022 is
Cheyenne Corp. reported net income of $79200 for the year 2022. During 2022, accounts receivable increased by $5280, accounts payable decreased by $3520 and depreciation expense of $8800 was recorded. Net cash provided by operating activities for 2022 is $72160. $70400. $88000. $79200.
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
Alfredo Incorporated reports net income of $233,000 for the year ended December 31. It also reports $89,000 depreciation expense and a $5,150 gain on the sale of equipment. Its comparative balance sheet reveals a $36,100 decrease in accounts receivable, a $16,050 increase in accounts payable, and a $12,700 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.

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