he following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595) The net cash flows from operating activities using the indirect method is a.$126,307 b.$113,887 c.$66,591 d.$186,023

he following information is available from the current period financial statements: Net income $126,307 Depreciation expense 23,648 Increase in accounts receivable 16,473 Decrease in accounts payable (19,595) The net cash flows from operating activities using the indirect method is a.$126,307 b.$113,887 c.$66,591 d.$186,023

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

What is the free cash flow?
Cash Flows from Operating Activities-Indirect Method Staley Inc. reported the following data: Net income $341,200 Depreciation expense 59,000 Loss on disposal of equipment 35,700 Increase in accounts receivable 21,200 Increase in accounts payable 12,900 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 out flows, cash payments, decreases in cash, or any negative adjustments.
Problem 11-8A (Algo) Prepare an income statement using operating cash flow information-indirect and direct methods (LO11-3, 11-7) Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s). Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Decrease in inventory Increase in prepaid rent Decrease in accounts payable Decrease in income tax payable Net cash flows from operating activities Cash Flows from Operating Activities (Direct method) Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities REVERSE LOGIC Income Statement For the Year Ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $70,720 $47,940 Accounts receivable (net) 207,230 188,190 Inventories 298,520 289,850 Investments 0 102,000 Land 295,800 0 Equipment 438,600 358,020 Accumulated depreciation—equipment (99,110) (84,320) Total assets $1,211,760 $901,680 Liabilities and Stockholders' Equity Accounts payable $205,700 $194,140 Accrued expenses payable 30,600 26,860 Dividends payable 25,500 20,400 Common stock, $1 par 202,000 102,000 Paid-in capital: Excess of issue price over par—common stock 354,000 204,000 Retained earnings 393,960 354,280 Total liabilities and stockholders' equity $1,211,760 $901,680 Additional data obtained from an examination of the accounts in the ledger for 20Y9 are as follows:…
The following information is available from the current period financial statements: Net income $133,833 Depreciation expense 22,491 Increase in accounts receivable 17,461 Decrease in accounts payable 28,059 The net cash flow from operating activities using the indirect method is:
The following information is available from the current period financial statements: $ 116,406 25,140 25,519 23,537 Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable The net cash flow from operating activities using the indirect method is Oa. $190,602 Ob. $92,490 Oc. $116,406 Od. $93,248
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $283,380 $266,640 Accounts receivable (net) 102,660 95,770 Inventories 289,780 283,550 Investments 0 109,850 Land 148,640 0 Equipment 319,740 250,680 Accumulated depreciation—equipment (74,850) (67,600) Total assets $1,069,350 $938,890 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $193,550 $184,960 Accrued expenses payable (operating expenses) 19,250 24,410 Dividends payable 10,690 8,450 Common stock, $10 par 57,740 46,010 Paid-in capital in excess of par—common stock 217,080 127,690 Retained earnings 571,040 547,370 Total liabilities and stockholders’ equity $1,069,350 $938,890 Additional data obtained from an examination of the accounts in the ledger for…
Statement of Cash Flows—Indirect Method The comparative balance sheet of Merrick Equipment Co. for December 31, 20Y9 and 20Y8, is as follows: Dec. 31, 20Y9 Dec. 31, 20Y8 Assets Cash $303,530 $282,030 Accounts receivable (net) 109,960 101,290 Inventories 310,400 299,900 Investments 0 116,190 Land 159,210 0 Equipment 342,470 265,140 Accumulated depreciation—equipment (80,180) (71,500) Total assets $1,145,390 $993,050 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $207,320 $195,630 Accrued expenses payable (operating expenses) 20,620 25,820 Dividends payable 11,450 8,940 Common stock, $10 par 61,850 48,660 Paid-in capital in excess of par—common stock 232,510 135,050 Retained earnings 611,640 578,950 Total liabilities and stockholders’ equity $1,145,390 $993,050 Additional data obtained from an examination of the accounts in the ledger for…
Question Content Area The following information is available from the current period financial statements: Net income $102,978 Depreciation expense 26,870 Increase in accounts receivable 15,293 Decrease in accounts payable (29,031) The net cash flows from operating activities using the indirect method is a. $174,172 b. $85,524 c. $102,978 d. $31,784
Yeoman Inc. reported the following data: Net income $170,000 Depreciation expense 29,000 Loss on disposal of equipment 11,850 Increase in accounts receivable 10,490 Increase in accounts payable 5,430 Prepare the Cash Flows from (used for) 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.
26
Statement of Cash Flows—Indirect Method The comparative balance sheet of Yellow Dog Enterprises Inc. at December 31, 20Y8 and 20Y7, is as follows: Dec. 31, 20Y8 Dec. 31, 20Y7 Assets Cash $73,180 $89,960 Accounts receivable (net) 112,450 121,280 Inventories 160,640 150,320 Prepaid expenses 6,540 4,550 Equipment 327,220 269,310 Accumulated depreciation-equipment (85,080) (66,050) Total assets $594,950 $569,370 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $124,940 $119,000 Mortgage note payable 0 170,810 Common stock, $1 par 19,000 12,000 Paid-in capital: Excess of issue price over par-common stock 280,000 161,000 Retained earnings 171,010 106,560 Total liabilities and stockholders’ equity $594,950 $569,370 Additional data obtained from the income statement and from an examination of the accounts in the ledger for 20Y8 are as follows: Net income,…