MODUFAMA v2.cengagenow.comnical CollegeB Learning Module 8 - ACCT1105: Financial Accounting II (..ECengageNOWv2| Online teachingеBookShow Me HowChanges in Current Operating Assets and LiabilitiesJasneet Corporation's comparative balance sheet for current assets and liabilities was as follows:Dec. 31, Year 2 Dec. 31, Year 1Accounts receivable$20,200$22,900Inventory13,00010,700Accounts payable10,9009,400Dividends payable25,10030,700Adjust net income of $185,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.FeedbackCheck My WorkOnce you have calculated the changes in the current operating assets and liabilities determine what impact those changes wouldFor example if accounts receivable has increased from last year to this year does that mean the company has collected more casIf accounts payable has decreased does that mean the company has more cash or less cash?Check My WorkPreviousSave and ExitSubmit Assignme16tvWMacBook Air80DIDDF3F4F5F6F7F8F9F10232$&46.7* CO

Cash flows from operating activities: It is a section of the Statement of cash flow that explains…

Answered: Jasneet Corporation's comparative…

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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A company reported net income of $250,000. Beginning balances in Accounts Recelvable and Accounts Payable were $20,000 and $21,000 respectively. Ending balances in these accounts were $10,500 and $29,000, respectively. Assuming that all relevant information has been presented, what is the company's net cash flows from operating activities? Multiple Cholce $259,500. $232,500. $267,500. $250,000.
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?
The following information is available from the current period financial statements: Net income $ 120,206 Depreciation expense $31,199 Increase in accounts receivable $16,040 Decrease in accounts payable $24,041 The net cash flow from operating activities using the indirect method is a.$97,008 b.$191,486 c.$111,324 d.$72,967
The following information is available from the current period financial statements: Net income $ 144,682 Depreciation expense $30,263 Increase in accounts receivable $15,664 Decrease in accounts payable $22,233 The net cash flow from operating activities using the indirect method is
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was Accounts payable decreased by Accounts receivable increased by Inventories increased by Cash dividends paid were Depreciation expense was Net cash provided by operating activities was: $150,000. $78,000. $54,000. $14,000. $40,000. $ 62,000 28,000 35,000 15,000 16,000 30,000
Changes in Current Operating Assets and Liabilities Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $20,300 $25,000 Inventory 85,100 76,000 Accounts payable 18,100 22,100 Dividends payable 24,000 23,000 Adjust net income of $104,000 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
The following information is available from the current period financial statements: Net income $ 111,199 Depreciation expense $34,516 Increase in accounts receivable $15,211 Decrease in accounts payable $22,902 The net cash flow from operating activities using the indirect method is a.$61,472 b.$183,828 c.$107,602 d.$84,374
The following information is available from the current period financial statements: Net income $135,135 Depreciation expense $31,170 Increase in accounts receivable $16,694 Decrease in accounts payable $23,736 The net cash flow from operating activities using the indirect method is?
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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