I want to correct answer general accounting Last year, Smith Corporation's cash account decreased by $35,000. Net cashused in investing activities was $15,000, and net cash provided by financingactivities was $30,000. What was the net cash flow provided by (used in)operating activities on the statement of cash flows?

To better clarify inflows and outflows, let's revisit the components of the cash flow statement:Cash…

Answered: Last year, Smith Corporation's cash…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 19E

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In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts receivable, a 7,000 increase in inventory, an 8,000 increase in salaries payable, a 13,000 decrease in accounts payable, and 10,000 in depreciation expense. Using the indirect method, prepare the operating activities section of its statement of cash flows based on this information.
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In its fiscal 2010 balance sheet, Big Lots, Inc. reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, cash and equivalents had decreased to $177,539 thousand. The Company's statement of cash flows reported from operating activities of $315,257 thousand, cash from financing activities of $(306,899) thousand. What amount did the company report for cash from investing activities? a) $8,358 thousand cash inflow b) $106,194 thousand cash outflow c) $114,552 thousand cash outflow d) $114,552 thousand cash inflow
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Using the Exhibit below, assume that the balance of Accounts Receivable was $61,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Receivable is $62,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts receivable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on…

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Last year, Smith Corporation's cash account decreased by $35,000. Net cash used in investing activities was $15,000, and net cash provided by financing activities was $30,000. What was the net cash flow provided by (used in) operating activities on the statement of cash flows?