S Company reported net income for 2021 in the amount of $400,000. The company's financial statements also included the Following: Increase in accounts receivable $ 80,000 Decrease in inventory 60,000 Increase in accounts payable 200,000 Depreciation expense 104,000 Gain on sale of land 148,000 What is net cash provided by operating activities under the indirect method? O $432,000. O $536,000. O $580,000.

S Company reported net income for 2021 in the amount of $400,000. The company's financial statements also included the Following: Increase in accounts receivable $ 80,000 Decrease in inventory 60,000 Increase in accounts payable 200,000 Depreciation expense 104,000 Gain on sale of land 148,000 What is net cash provided by operating activities under the indirect method? O $432,000. O $536,000. O $580,000.

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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Curwen Inc. reported net cash flow from operating activities of $145,700 on its statement of cash flows for a recent year ended December 31. The following information was reported in the Cash flows from operating activities section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $2,900 Decrease in inventories 7,300 Depreciation 11,200 Gain on sale of investments 5,000 Increase in accounts payable 2,000 Increase in prepaid expenses 1,200 Increase in accounts receivable 5,500 a. Determine the net income reported by Curwen Inc., for the year ended December 31.
am.200.
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UJ Corp. reported net income for the year of $115,000. What is the net cash flows from operating activities given the following information: Increase in Salaries Payable $ 15,000 Depreciation Expense $ 6,000 Increase in Prepaid Rent $ 24,000 Loss on sale of asset $ 1,000 Increase in Accounts Payable $ 25,000 Increase in Inventory $ 50,000 Select one: a. $118,000 b. $188,000 c. $136,000 d. $88,000 e. $112,000