Prepare cash flows from operating activities using the direct method: Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix $ 4,000 30,000 40,000 (20,000) 24,000 (44,000) Dots $100,000 8,000 20,000 (10,000) (22,000) 12,000 Skor $72,000 24,000 (4,000) 10,000 14,000 (8,000)

Prepare cash flows from operating activities using the direct method: Net income Depreciation expense Accounts receivable increase (decrease) Inventory increase (decrease) Accounts payable increase (decrease) Accrued liabilities increase (decrease) Twix $ 4,000 30,000 40,000 (20,000) 24,000 (44,000) Dots $100,000 8,000 20,000 (10,000) (22,000) 12,000 Skor $72,000 24,000 (4,000) 10,000 14,000 (8,000)

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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Current Attempt in Progress Lee Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5180000 $3979520. $5180000. $6380480. $5706480. 704480 159000 337000 Lee should report cash provided by operating activities of
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