Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year $ 22,700 31,000 Accounts Receivable Inventory Prepaid Rent Accounts Payable Salaries and Wages Payable Sales Revenue Expenses: Income Statement Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 2,100 17,600 4,200 Current Year $ 15,500 34,100 0 22,800 6,300 $ 465,000 268,000 31,000 46,500 18,600 18,600 Changes in current assets and current liabilities: 17,050 15,500 $ 49,750 Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.) Pioneer Industries Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities:
Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year $ 22,700 31,000 Accounts Receivable Inventory Prepaid Rent Accounts Payable Salaries and Wages Payable Sales Revenue Expenses: Income Statement Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 2,100 17,600 4,200 Current Year $ 15,500 34,100 0 22,800 6,300 $ 465,000 268,000 31,000 46,500 18,600 18,600 Changes in current assets and current liabilities: 17,050 15,500 $ 49,750 Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.) Pioneer Industries Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities:
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 40E: Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for...
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![Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below.
Selected Balance Sheet Accounts
Prior Year
$ 22,700
31,000
2,100
17,600
4,200
Accounts Receivable
Inventory
Prepaid Rent
Accounts Payable
Salaries and Wages Payable
Sales Revenue
Expenses:
Income Statement
Cost of Goods Sold
Depreciation Expense
Salaries Expense
Rent Expense
Insurance Expense
Interest Expense
Utilities Expense
Net Income
Current Year
$ 15,500
34,100
0
22,800
6,300
$ 465,000
268,000
31,000
46,500
18,600
18,600
17,050
15,500
$ 49,750
Required:
Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any
deductions and cash outflows as a negative value.)
Pioneer Industries
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash provided by operating activities:
Changes in current assets and current liabilities:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F79ef1921-fe42-4058-bd61-49e737b7eb5b%2F39ed2ca1-f901-40ee-a8e5-dd815184bd15%2Fxao88f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below.
Selected Balance Sheet Accounts
Prior Year
$ 22,700
31,000
2,100
17,600
4,200
Accounts Receivable
Inventory
Prepaid Rent
Accounts Payable
Salaries and Wages Payable
Sales Revenue
Expenses:
Income Statement
Cost of Goods Sold
Depreciation Expense
Salaries Expense
Rent Expense
Insurance Expense
Interest Expense
Utilities Expense
Net Income
Current Year
$ 15,500
34,100
0
22,800
6,300
$ 465,000
268,000
31,000
46,500
18,600
18,600
17,050
15,500
$ 49,750
Required:
Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any
deductions and cash outflows as a negative value.)
Pioneer Industries
Cash Flows from Operating Activities
Adjustments to reconcile net income to net cash provided by operating activities:
Changes in current assets and current liabilities:
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