Please do not give solution in image format thanku The net income reported on the income statement for the current year was $259,760. Depreciation recorded on fixed assets and amortization ofpatents for the year were $41,395 and $8,130, respectively. Balances of current asset and current liability accounts at the end and at thebeginning of the year are as follows:CashiAccounts ReceivableInventoriesPrepaid ExpensesAccounts Payable (merchandise creditors)End$47,270126,487110,194$63,180109,71597,0008,23075,831What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?Oa. $338,864Ob. $279,319Oc. $244,949Od. $260,930Beginning4,42453,636

Cash flow from operating activities is the amount of cash generated by a business from its…

The net income reported on the income statement for the current year was $259,760. Depreciation recorded on fixed assets and amortization of patents for the year were $41,395 and $8,130, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts Receivable Inventories End Beginning $47,270 $63,180 126,487 109,715 110,194 97,000 Prepaid Expenses 4,424 8,230 Accounts Payable (merchandise creditors) 53,636 75,831 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $338,864 Ob. $279,319 Oc. $244,949 Od. $260,930

The net income reported on the income statement for the current year was $259,760. Depreciation recorded on fixed assets and amortization of patents for the year were $41,395 and $8,130, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash Accounts Receivable Inventories End Beginning $47,270 $63,180 126,487 109,715 110,194 97,000 Prepaid Expenses 4,424 8,230 Accounts Payable (merchandise creditors) 53,636 75,831 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $338,864 Ob. $279,319 Oc. $244,949 Od. $260,930

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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Concept explainers

Operating Cash Flows

A cash flow statement (CFS) helps the company to know the amount of cash at its disposal, the activities that lead to earning cash, and the activities which require cash expenditure for a particular period. The statement represents the liquidity of the company.

Question

Please do not give solution in image format thanku

The net income reported on the income statement for the current year was $259,760. Depreciation recorded on fixed assets and amortization of
patents for the year were $41,395 and $8,130, respectively. Balances of current asset and current liability accounts at the end and at the
beginning of the year are as follows:
Cashi
Accounts Receivable
Inventories
Prepaid Expenses
Accounts Payable (merchandise creditors)
End
$47,270
126,487
110,194
$63,180
109,715
97,000
8,230
75,831
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Oa. $338,864
Ob. $279,319
Oc. $244,949
Od. $260,930
Beginning
4,424
53,636

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