Net income was $106,794. Accounts Payable increased by $19,324 while Accounts Receivable increased by $21,566 during the period. State the net cash provided by operating activities using the indirect method.
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1. Net income was $106,794. Accounts Payable increased by $19,324 while
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- The following are excerpts from Hamburg Company’s statement of cash flows and other financial records. From Statement of Cash Flows: Cash flows from operating activities $282,530 Cash flows from investing activities -12,482 Cash flows from financing activities -21,014 From other records: Capital expenditure costs 23,097 Cash dividend payments 9,222 Sales revenue 478,493 Total assets 350,091 Compute cash flows to assets ratio.Kennedy, Inc., reported the following data: $134,297 Net income Depreciation expense 14,195 Loss on disposal of equipment (10,514) Gain on sale of building 20,604 Increase in accounts receivable 7,029 (860') Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a Decrease in accounts payable decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flows Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Previous earch 3:28 PM 53°F Sunny (p岁 12/14/2021 a. prt sc delete pause shift homeStaley Inc. reported the following data: Line Item Description Amount Net income $449,900 Depreciation expense 55,600 Loss on disposal of equipment 32,900 Increase in accounts receivable 20,800 Increase in accounts payable 10,500 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 out flows, cash payments, decreases in cash, or any negative adjustments. blankStaley Inc.Statement of Cash Flows (partial) Line Item Description Amount Amount Cash flows from (used for) operating activities: $Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flows from operating activities $Net cash…
- Cash Flows from Investing and Financing Activities Determine the amount of cash received and paid for financing and investing activities and the cash flows as they would appear on Rogerson’s statement of cash flows for the year ended December 31, 20-2. Use a minus to indicate any decreases in cash or cash outflows. Rogerson Company’s comparative balance sheet as of December 31, 20-2 and 20-1, showed the following with regard to investing and financing activities: 20-2 20-1 Building $125,200 $0 Equipment 92,000 0 Notes payable 27,200 19,400 Common stock at par 285,600 233,900 Paid-in capital in excess of par 81,900 48,500 Retained earnings 267,000 213,500 Net income for 20-2 was $85,300, and cash dividends of $31,800 were declared and paid. Rogerson did not sell any buildings or equipment and did not retire any debt. Determine the amount of cash received and paid for financing and investing activities and…Laser World reports net income of $470,000. Depreciaiton expense is $32,000, accounts receivable increases $10,000, and accounts payable decreases $12,000. Calculate net cash flows from operating activities using the indirect method. (List cash outflows and any decreases in cash as negative amounts)1. Using the indirect method, calculate the estimated net cash provided by operating activities for July.
- Income tac was $300,409 for the year. Income tac payable was $28,102 and $42,997 at the beginning and end of the year,reapectively. Cash payants for income tac reportés on the statement pc cash flots usine the direct method la a. $ 285,514 b. 315,304 c. 300,409 d. 371,508Accounts receivable arising from trade transactions amounted to $44,000 and $53,000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $105,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is: a. $105,000 b. $114,000 c. $96,000 d. $158,000Exercise 7-16: From the following list, identify whether the change in the account balance during the year would be added to or deducted from net income when the indirect method is used to determine cash flows from operating activities: Increase in accounts receivable Decrease in accounts receivable Increase in notes receivable Decrease in notes receivable
- Accounts receivable from sales transactions were $45,634 at the beginning of the year and $60,027 at the end of the year. Net income reported on the income statement for the year was $126,710. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be a. $126,710 b. $112,317 c. $14,393 d. $141,103Accounts receivable from sales transactions were $48,847 at the beginning of the year and $66,305 at the end of the year. Net income reported on the income statement for the year was $142,809. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is:Sheridan Company completed its first year of operations on December 31. 2022. It initial income statement showed that Sheridan had sales revenue of $190,900 and operating expenses of $73,200. Accounts receivable and accounts payable at year-end were $63,900 and $31,600 respectively. Assume that accounts payable related to operating expenses. Inore income taxes. Compute net cash provided by operating activities using the direct method. (Show amo wnts that decrease cosh fow with either a sign eg 1s oog orinparenthesises (15,000) Net cash provided by operating activities