Oriole Company reported net income of $63000 for the year. During the year, accounts receivable decreased by $7600, accounts payable increased by $4000 and depreciation expense of $5100 was recorded. Net cash provided by operating activities for the year is $51400. O $79700. O $61500. O $57900.

Oriole Company reported net income of $63000 for the year. During the year, accounts receivable decreased by $7600, accounts payable increased by $4000 and depreciation expense of $5100 was recorded. Net cash provided by operating activities for the year is $51400. O $79700. O $61500. O $57900.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: urniture, Inc., has net cash flows from operating activities for the last year of $360 come is $335…

A: Operating cash flow is cash flow from operating activities and can be calculated by adding…

Q: Chris's Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last…

A: Net cash flow from operating activities = Net income + Depreciation expenses - changes(increase) in…

Q: Norman Company's net income last year was $26,000. Changes in selected balance sheet accounts for…

A: Indirect method: Under indirect method, net income is reported first, then non-cash expenses, losses…

Q: Service Company had net income during the current year of $122,000. The following information was…

A: A cash flow statement is a financial statement that shows how a company's cash and cash equivalents…

Q: The net income reported on the income statement of Wildhorse Co. for the current year was $1469000.…

A: The cash flow statement is prepared to find the cash outflow or inflow from the business during the…

Q: Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was…

A: b. $35,685 (Not in the right choices, the correct amount in the explanation field.)Explanation:Step…

Q: Sales reported on the income statement were $690,000. The accounts receivable balance declined…

A: The account receivables are the current assets of the business and are recorded in the balance…

Q: For the just completed year, Hanna Company had net income of $59,000. Balances in the company’s…

A: As per the indirect method we will trace out the cash inflo and out…

Q: Hasbrouck Company reported net income of $290,000 for the year. During the year, accounts receivable…

A: Statement of Cash Flows: A statement of cash flow is a financial statement that shows the cash and…

Q: The Butler-Huron Company’s balance sheet and income statement for last year are as follows: Balance…

A: The cash conversion cycle is the method used by the management in determining the time to taken in…

Q: At the end of last year, Edwin Inc. reported the following income statement (in millions of…

A: An income statement is a statement that shows a company's income and costs. It also displays if a…

Q: Cash purchases of Lowman Company for 2020 were 900,000. During the year purchase returns of 150,000…

A: Cash paid on accounts payable can be calculated by deducting purchase return and discount from the…

Q: Grau Company reported sales revenue of $100,000 and total expenses of $90,000 (including…

A: Cash flow from operating activities: This section of cash flow statement provides information about…

Q: Labi Company reported a net loss of $13,000 for the year ended December 31, 2021. During the year,…

A: Operating activities means the procedures occurred in the daily running of the business.

Q: Sunland Company had net income of $854400 for the year ending 12/31/2022. Depreciation expense for…

A: Net Income = $854400 Depreciation expense = $105600 Increase in accounts receivable = $57600…

Q: Salvador, Inc. reported a net income of $2.5 million in 2008. Depreciation for the year was…

A: Statement of cash flow: It refers to a financial statement that shows all the cash payments and…

Q: Harper Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last…

A: Accounts receivable refers to the item of assets side of the balance sheet that defines the amount…

Q: Nanang Company's net income last year was $47,000. Changes in selected balance sheet accounts for…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: Last year, IC Inc. had operating income of $500,000 after charging $200,000 of depreciation expense.…

A: CASH FLOW STATEMENTCash flow statement is additional information to the Investors. This statement…

Q: What are the amounts and percentages of increase or decrease that would be shown with horizontal…

A: Horizontal analysis is made and analyzed by the company so that there could be made a comparison…

Q: Barga Company's net sales for Year 1 and Year 2 are $661,000 and $745,000, respectively. Its…

A: Days Sales Uncollected: It is possible to anticipate the number of days that will pass until…

Q: Blossom Company's accounts receivable account balance was $112000 at the beginning of the year and…

A: The Accounts receivable refers to the outstanding payments a company is yet to receive from its…

Q: Nickolas's Nut Farms, Incorporated has net cash flows from operating activities for the last year of…

A: Cash flow from operating activities$25 millionNet income$15 millionDepreciation$6 millionDecrease in…

Q: Whispering Winds Corp. had net income of $818800 for the year ending 12/31/2022. Depreciation…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: Determine the increase or decrease in cash for last year given the following information. Net income…

A: Solution: Cash flow means the cash generated or paid during a period by a firm.

Q: Micro, Inc., started the year with net fixed assets of $76,175. At the end of the year, there was…

A: Net capital spending refers to those amounts of the company which is used to purchase the new…

Q: A) i. The following data were extracted from the financial statements of Zinc Incorporated. Assuming…

A: Operating Cycle=Days sales in inventory+Days sales outstanding Cash Conversion Cycle=Days sales in…

Q: Gamma Corporation reported Net Income of $85,000 for FY2021. In addition, selected accounts showed…

A: Cash flows from operating activities: It is a section of the Statement of cash flow that explains…

Q: Windsor, Inc. reported a net loss of $12900 for the year ended December 31, 2022. During the year,…

A: Given, Net loss = $ 12900 Depreciation (Non-cash expense) = $ 7740

Q: 21)Ning Company reported a net loss of $15,000 for the year ended December 31, 2026. During the…

A: Operating activities: Operating activities include cash inflows and outflows from business…

Q: Assume a company had net income of $62,000. It provided the following excerpts from its balance…

A: ANSWER Cash flow from operating activities is a part of cash flow statement and it represents the…

Q: Guardian Angel Company reported the following for its most recent fiscal year: Net income, -…

A: Cash flow statements: It is a statement that provides information about the outflow or inflow of…

Q: For the past year, Kayla, Inc., has sales of $45,407, interest expense of $3,464, cost of goods sold…

A: operating cash flow refers to the cash flow generated from the business operation.operating cash…

Q: Alberto Co. reported the following for its most recent fiscal year: Net income, - $200,000;…

A: The cash flow statement is an essential part of the financial statements of the organization. It is…

Q: AoA Company reported the following for its most recent fiscal year: Net income, - $20,000;…

A: cashflow form operating activities: It is the cashflow from its ongoing regular business activities.…

Q: Windsor, Inc. reported net income of $76500 for the year 2022. During 2022, accounts receivable…

A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the…

Q: Borax Corporation reported net income of $140,000 for the current year. Here are other data…

A: Cash Flow Statement :— It is one of the financial statement that shows change in cash and cash…

Q: Oriole Inc. reported sales of $2.07 million for 2022. Accounts receivable decreased $143,000 and…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Question

View Policies
Current Attempt in Progress
Oriole Company reported net income of $63000 for the year. During the year, accounts receivable decreased by $7600, accounts
payable increased by $4000 and depreciation expense of $5100 was recorded. Net cash provided by operating activities for the
year is
O $51400.
O $79700.
O $61500.
O $57900.
Save for Later
Attempts: 0 of 1 used
Submit Answer

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

24. Following are a company's income statement at the end of the last year (year 0) and coming year (year 1). Each year, the company's accounts receivable need to be main- tained at 5% of sales. The company's inventory and accounts payable do not change. Capital expenditure in year 1 is $10,000. Year Sales Depreciation EBIT Taxes (a) What is the free cash flow in year 17 1 85,000 92,000 20,000 22,000 17,000 19,500 3,500 3,700 0 (b) The company's business is mature, so it is expected to generate the same amount of free cash flow every year forever. The firm-specific discount rate is 7%, and the risk-free rate is 2%. What is the enterprise value of the company? (c) The company has $150,000 in cash and $50,000 in debt. In addition, it has 7000 shares outstanding. What is the company's stock price per share?
= Revenues = $15,369. Cost of Goods Sold $5,114. Depreciation Expense = $2,496, Interest = $537 and Taxes = $555. In addition the company's Receivables increased by $342 and Inventories decreased by $200. The company's Cash Flow from Operations was $
Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income $ 391,000 Accounts receivable decrease $ 27,200 Depreciation expense 44,200 Inventory decrease 46,000 Amortization expense 8,000 Prepaid expenses increase 6,400 Gain on sale of plant assets 7,100 Accounts payable decrease 8,200 Salaries payable increase 1,900 Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Note: Amounts to be deducted should be indicated with a minus sign.
Metlock, Inc.'s net income for the current year was $432000. Depreciation was $56000. Accounts receivable and inventories decreased by $18000 and $29000, respectively. Prepaid expenses and salaries payable increased, respectively, by $2000 and $14000. Equipment was sold at a gain of $7800. How much cash was provided by operating activities?
A company had net income of $244,839. Depreciation expense is $20,103. During the year, Accounts Receivable and Inventory increased by $18,423 and $39,765, respectively. Prepaid Expenses and Accounts Payable decreased by $2,854 and $5,603, respectively. There was also a loss on the sale of equipment of $6,008. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?
Revenues = $18,277. Cost of Goods Sold = $5,112. Depreciation Expense = $2,914, Interest = $532 and Taxes = $598. In addition the company's Receivables increased by $396 and Inventories decreased by $296. The company's Cash Flow from Operations was $ ......
Manji
The company recorded a net loss of P175,000 for the year just ended. Total operating expenses was P3,792,000, cost of sales was P1,822,300 and sales discount was P89,890. How much is the gross sales that the company generated during the year?
Chris’s Outdoor Furniture, Incorporated, has net cash flows from operating activities for the last year of $310 million. The income statement shows that net income is $285 million and depreciation expense is $41 million. During the year, the change in inventory on the balance sheet was $31 million, change in accrued wages and taxes was $11 million, and change in accounts payable was $22 million. At the beginning of the year, the balance of accounts receivable was $41 million. Calculate the end-of-year balance for accounts receivable.
Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years: Year 2(in millions) Year 1(in millions) Cash and cash equivalents $4,165 $4,528 Short-term investments, at cost 2,958 8,408 Accounts and notes receivable, net 9,404 8,624 Inventories 1,771 787 Prepaid expenses and other current assets 590 291 Short-term obligations (liabilities) 315 3,342 Accounts payable and other current liabilities 7,453 6,813 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2 Year 1 Current ratio fill in the blank 1 fill in the blank 2 Quick ratio fill in the blank 3 fill in the blank 4