None Novak Photography reported net income of $105,000 for 2022. Included in the income statement were depreciation expense of$6,300, patent amortization expense of $3,600, and a gain on disposal of plant assets of $3,900. Novak's comparative balance sheetsshow the following balances.12/31/2212/31/21Accounts receivable$21,000$26,700Accounts payable8,5006,400Calculate net cash provided by operating activities for Novak Photography. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).)Novak PhotographyStatement of Cash FlowsFor the Year Ended 2022Cash Flows from Operating ActivitiesNet IncomeAdjustments to reconcile net income toNet Cash Provided by Financing ActivitiesDepreciation ExpensePatent Amortization ExpenseGain on Disposal of Plant AssetsDecrease in Accounts ReceivableIncrease in Accounts Payable

Step 1:Cash Flow Statement:-Cash Flow Statement is the statement prepared at the end of accounting…

Answered: Novak Photography reported net income…

Excel Applications for Accounting Principles

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Cullumber Photography reported net income of $92,000 for 2022. Included in the income statement were depreciation expense of $5,800, patent amortization expense of $3,900, and a gain on disposal of plant assets of $3,800. Cullumber's comparative balance sheets show the following balances. 12/31/22 12/31/21 Accounts receivable $19,000 $28,500 Accounts payable 9,200 5,400 Calculate net cash provided by operating activities for Cullumber Photography. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) Cullumber Photography Statement of Cash Flows
CQ Photography reported net income of $103,000 for 2022. Included in the income statement were depreciation expense of $6,500, patent amortization expense of $3,800, and a gain on disposal of plant assets of $4,000. CQ's comparative balance sheets show the following balances. Accounts receivable Accounts payable 12/31/22 $19,200 Net Income 8,400 12/31/21 Cash Flows from Operating Activities Calculate net cash provided by operating activities for CQ Photography using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) $27,000 CQ Photography Statement of Cash Flows For the Year Ended December 31, 2022 Adjustments to reconcile net income to 6,500 Net Cash Provided by Operating Activities $ 103000
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The net income reported on the income statement for the current year was $313,659. Depreciation recorded on fixed assets and amortization of patents for the year were $38,968, and $9,722, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $42,392 $55,782 Accounts receivable 126,305 101,016 Inventories 100,582 80,433 Prepaid expenses 4,060 7,575 Accounts payable (merchandise creditors) 50,302 78,390 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $214,402 Ob. $432,360 Oc. $412,916 Od. $292,338
The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were $34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts receivable Inventories End a. $370,545 b. $208,919 c. $347,601 Od. $278,217 $47,146 124,126 102,601 4,506 45,924 Beginning $57,260 104,236 93,932 7,914 66,937 Prepaid expenses Accounts payable (merchandise creditors) What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
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Please help me with show all calculation thanku
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