The financial statements of Simon Company include the following items (amounts in thousands): For the Year Ended December 31, 2023 $ 499 330 Income Statement Net income Depreciation and amortization expense Balance Sheets Accounts receivable Inventory Accounts payable Income taxes payable At December 31 2023 $ 135 185 42 79 a. Net cash provided (used) by operating activities b. Net income and cash flows provided by operations differ 2022 $ 171 130 92 16 Required: a. Calculate the net cash flow provided by operations for Simon Company for the year ended December 31, 2023 Note: Enter your answer in thousands. (i.e., 20,000 should be entered as 20) b. Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement.

The financial statements of Simon Company include the following items (amounts in thousands): For the Year Ended December 31, 2023 $ 499 330 Income Statement Net income Depreciation and amortization expense Balance Sheets Accounts receivable Inventory Accounts payable Income taxes payable At December 31 2023 $ 135 185 42 79 a. Net cash provided (used) by operating activities b. Net income and cash flows provided by operations differ 2022 $ 171 130 92 16 Required: a. Calculate the net cash flow provided by operations for Simon Company for the year ended December 31, 2023 Note: Enter your answer in thousands. (i.e., 20,000 should be entered as 20) b. Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement.

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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Question

Kk.401.

Problem 9-25 (Algo) Cash flows from operations-indirect method LO 9-10
The financial statements of Simon Company include the following items (amounts in thousands):
For the Year Ended December
31, 2023
Income Statement
Net income
Depreciation and amortization expense
Balance Sheets
Accounts receivable
Inventory
Accounts payable
Income taxes payable
a. Net cash provided (used) by operating activities
b. Net income and cash flows provided by operations differ
At December 31
2023
$ 135
185
$ 499
330
42
79
2022
$ 171
130
92
16
Required:
a. Calculate the net cash flow provided by operations for Simon Company for the year ended December 31, 2023
Note: Enter your answer in thousands. (i.e., 20,000 should be entered as 20)
b. Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus
the timing of recognition on the income statement.

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