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me * CengageNoWv2 |O x Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Dec. 31, 2019 Dec. 31, 2018 Cash $20,000 $17,500 Accounts receivable 10,500 8,000 Inventory 18,000 21,000 Accounts payable 15,000 10,000 Income taxes payable 1,000 2,500 Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 へ 4/ DELL PrtScr Insert Home End F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 & ( ). з 4 9. %3D { т * 00 ly Home X CengageNOWv2 |O X OMail West, Grace K x M Your Accounting ans X b Ask a Question | bar X + w.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3D&inprogress%3=false eBook Calculator Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 Required: Compute the net cash flows from operating activities using the indirect method. Feedback Check My Work The calculation of net cash flow from operating activities requires adjustments to net income for noncash items and changes in current with net income and consider any noncash items. Next, analyze the changes in the balance sheet accounts to determine their effect on the fundamental accounting equation in terms of changes, separate the cash and noncash assets, and isolate the change in cash.) Fina cash flow for operating assets. DELL PrtScr Insert Home F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 24 & ( 4 8

me * CengageNoWv2 |O x Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Dec. 31, 2019 Dec. 31, 2018 Cash $20,000 $17,500 Accounts receivable 10,500 8,000 Inventory 18,000 21,000 Accounts payable 15,000 10,000 Income taxes payable 1,000 2,500 Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 へ 4/ DELL PrtScr Insert Home End F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 & ( ). з 4 9. %3D { т * 00 ly Home X CengageNOWv2 |O X OMail West, Grace K x M Your Accounting ans X b Ask a Question | bar X + w.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3D&inprogress%3=false eBook Calculator Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 Required: Compute the net cash flows from operating activities using the indirect method. Feedback Check My Work The calculation of net cash flow from operating activities requires adjustments to net income for noncash items and changes in current with net income and consider any noncash items. Next, analyze the changes in the balance sheet accounts to determine their effect on the fundamental accounting equation in terms of changes, separate the cash and noncash assets, and isolate the change in cash.) Fina cash flow for operating assets. DELL PrtScr Insert Home F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 24 & ( 4 8

FINANCIAL ACCOUNTING
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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me * CengageNoWv2 |O x Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Dec. 31, 2019 Dec. 31, 2018 Cash $20,000 $17,500 Accounts receivable 10,500 8,000 Inventory 18,000 21,000 Accounts payable 15,000 10,000 Income taxes payable 1,000 2,500 Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 へ 4/ DELL PrtScr Insert Home End F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 & ( ). з 4 9. %3D { т * 00
Transcribed Image Text:me * CengageNoWv2 |O x Mail - West, Grace K X M Your Accounting ans X b Ask a Question | bart X m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Calculator Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet Information Dec. 31, 2019 Dec. 31, 2018 Cash $20,000 $17,500 Accounts receivable 10,500 8,000 Inventory 18,000 21,000 Accounts payable 15,000 10,000 Income taxes payable 1,000 2,500 Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 へ 4/ DELL PrtScr Insert Home End F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 & ( ). з 4 9. %3D { т * 00
ly Home X CengageNOWv2 |O X OMail West, Grace K x M Your Accounting ans X b Ask a Question | bar X + w.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3D&inprogress%3=false eBook Calculator Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 Required: Compute the net cash flows from operating activities using the indirect method. Feedback Check My Work The calculation of net cash flow from operating activities requires adjustments to net income for noncash items and changes in current with net income and consider any noncash items. Next, analyze the changes in the balance sheet accounts to determine their effect on the fundamental accounting equation in terms of changes, separate the cash and noncash assets, and isolate the change in cash.) Fina cash flow for operating assets. DELL PrtScr Insert Home F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 24 & ( 4 8
Transcribed Image Text:ly Home X CengageNOWv2 |O X OMail West, Grace K x M Your Accounting ans X b Ask a Question | bar X + w.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator%3D&inprogress%3=false eBook Calculator Burch Company Income Statement For the year ended December 31, 2019 Sales $250,000 Cost of goods sold (160,000) Depreciation expense (15,000) Other expenses (35,000) Income tax expense (12,000) Net income $28,000 Required: Compute the net cash flows from operating activities using the indirect method. Feedback Check My Work The calculation of net cash flow from operating activities requires adjustments to net income for noncash items and changes in current with net income and consider any noncash items. Next, analyze the changes in the balance sheet accounts to determine their effect on the fundamental accounting equation in terms of changes, separate the cash and noncash assets, and isolate the change in cash.) Fina cash flow for operating assets. DELL PrtScr Insert Home F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 24 & ( 4 8
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