Oriole Company reported net income of $1.8 million in 2017. Depreciation for the year was $158,800, accounts receivable decreased $377,500, and accounts payable decreased $300,700.Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).)Oriole CompanyStatement of Cash Flows-Indirect ApproachFor the Year Ended December 31, 2017Cash Flows from Operating ActivitiesNet IncomeAdjustments to reconcile net income toNet Cash Provided by Operating Activities +Decrease in Account Receivable +377500Decrease in Account Payable(300700)Depreciation Expense158800Net Cash Provided by Operating Activities

Answer: There are 2 methods to compute cash flow from operating activities, Direct and Indirect…

Answered: Oriole Company reported net income of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Staley Inc. reported the following data: Net income $338,400 Depreciation expense 66,700 Loss on disposal of equipment 31,900 Increase in accounts receivable 25,200 Increase in accounts payable 10,100 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. what is the answer to this?
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Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2021 fiscal year was $654,000. Depreciation and amortization expense of $93,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: Decrease in accounts receivable $ 28,000 Increase in inventory 9,800 Increase in prepaid expenses 9,100 Increase in salaries payable 10,600 Decrease in income taxes payable 17,000 Required:Prepare the operating activities section of the 2021 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)
11. In 2020, Windsor Corporation reported a net loss of $69,800. Windsor’s only net income adjustments were depreciation expense $81,700, and increase in accounts receivable $8,900.Compute Windsor’s net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by operating activities $
(Computation of Operating Activities—Direct Method) Presented below are two independent situations.Situation A: Annie Lennox Co. reports revenues of $200,000 and operating expenses of $110,000 in its first year of operations, 2017. Accounts receivable and accounts payable at year-end were $71,000 and $29,000, respectively. Assume that the accounts payable related to operating expenses. (Ignore income taxes.)InstructionsUsing the direct method, compute net cash provided by operating activities. Situation B: The income statement for Blues Traveler Company shows cost of goods sold $310,000 and operating expenses (exclusive of depreciation) $230,000. The comparative balance sheet for the year shows that inventory increased $26,000, prepaid expenses decreased $8,000, accounts payable (related to merchandise) decreased $17,000, and accrued expenses payable increased $11,000.InstructionsCompute (a) cash payments to suppliers and (b) cash payments for operating expenses
The net income for Swifty Corporation for 2022 was $260,100. For 2022, depreciation on plant assets was $67,800, and the company incurred a loss on disposal of plant assets of $27,100. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company's accounts. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis e.g. (15,000)) Ⓒ
Vaugh Inc. reported net income of $3.10 million in 2022.Depreciation for the year was $198, 400, accounts receivable decreased $434, 000,and accounts payable decreased $347, 200 .Compute net cash provided by operating activities using the indirect method.
Gutierrez Company reported net income of $191,900 for 2020. Gutierrez also reported depreciation expense of $44,600 and a loss of $4,600 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $15,100 for the year, a $17,100 increase in accounts payable, and a $3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020
Super Grocers, Inc. provided the following financial information for the quarter ending September 30, 2016. Find the net cash flow from operating activites. Depreciation and amortization: $133,414 Net Income: $341,463 Increase in receivables: $112,709 Increase in inventory: $81,336 Increase in accounts payables: $62,411 Decrease in marketable securities: $31,225 Issued new common stock: $3,500 O $343,243 ○ $374,468 O $308,458 O $312,018
Crane Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Crane had sales revenue of $197,500 and operating expenses of $71,300. Accounts receivable and accounts payable at year-end were $62,400 and $18,300, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided by operating activities GA $ 84,162
Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of $140,000 was included withoperating expenses in the income statement. The following information describes the changes in current assets andliabilities other than cash:Increase in accounts receivable $152,000Decrease in inventories 108,000Decrease prepaid expenses 62,000Decrease in salaries payable 30,000Increase in income taxes payable 44,000Required:Calculate cash flows from operating activities for 2018.
Blossom Company reported net income of $148,500. For 2022, depreciation was $45,100, and the company reported a gain on sale of Investments of $12.100. Accounts recelvable increased $25,100 and accounts payable decreased $23.100. Compute net cash provided by operating activities using the indirect method. Net cash provided by operating activities

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