Hanna Company's current asset and current liability account balances at the beginning and end of the year were as follows: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable December 31 Beginning of Year End of Year $ 60,000 $ 156,000 $ 448,000 $ 11,500 $ 356,000 $9,000 $ 35,000 $ 80,000 $ 190,000 $ 355,000 $ 14,500 $ 394,000 $ 12,000 $ 27,000 The Accumulated Depreciation account had total credits of $54,000. Hanna Company's net income was $69,000 and it did not record any gains or losses on the sale of noncurrent assets. Required: Using the indirect method, calculate the net cash provided by operating activities for the year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Hanna Company Statement of Cash Flows-Indirect Method (partial)

Hanna Company's current asset and current liability account balances at the beginning and end of the year were as follows: Current assets: Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable December 31 Beginning of Year End of Year $ 60,000 $ 156,000 $ 448,000 $ 11,500 $ 356,000 $9,000 $ 35,000 $ 80,000 $ 190,000 $ 355,000 $ 14,500 $ 394,000 $ 12,000 $ 27,000 The Accumulated Depreciation account had total credits of $54,000. Hanna Company's net income was $69,000 and it did not record any gains or losses on the sale of noncurrent assets. Required: Using the indirect method, calculate the net cash provided by operating activities for the year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Hanna Company Statement of Cash Flows-Indirect Method (partial)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

who should prepare and sign the engagement letter
Which statement describes a technique used to address the issue of ensuring the payment of adequate child support by a noncustodial parent when the parents of minor children are divorced? A) A provision in the noncustodial parent's will leaving property to the minor will solve this concern. B) To ensure that child support payments are continued if the noncustodial parent dies or becomes disabled before such payments are to cease, the parents must enter into a nuptial agreement. C) An irrevocable trust established and funded by the noncustodial parent to ensure payment of child support can be a valuable tool to protect such assets from the claims of future creditors of the noncustodial parent. D) Insurance on the life of the noncustodial parent must be owned by an irrevocable life insurance trust to prevent the noncustodial parent from changing the beneficiary.
Please help me. Thankyou.
Does the location of a house impact the cost of a home? Explain why? Give examples.
How does a small buisness owners role change over time?
Why is it important to know about the levied to choose between RCIT and MCIT and whichever is higher?
Which of the following methods will NOT achieve the client's goal of distributing property at death to the desired persons? A)Intestacy B)A trust C)A will D)A will substitute
Generally speaking, the _________ the risk in a job, the _________ workers’ compensation insurance will cost. Select one: a. None of these is correct b. lower; more c. higher; less d. lower; less