The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were $40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning $46,796 $56,955 125,836 102,670 100,820 88,019 4,804 8,748 46,898 78,333 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $381,211 Ob. 5402,315 Oc. $275.399 Od. 5194,025 Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors).
The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were $40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning $46,796 $56,955 125,836 102,670 100,820 88,019 4,804 8,748 46,898 78,333 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $381,211 Ob. 5402,315 Oc. $275.399 Od. 5194,025 Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors).
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
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6RE: Oz Corporation has the following assets at year-end: Patents (net), 26,000; Land, 50,000; Buildings,...
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![The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were
$40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
Beginning
$56,955
102,670
88,019
8,748
78,333
Cash
Accounts receivable
Inventories
Prepaid expenses
Accounts payable (merchandise creditors)
End
$46,796
125,836
100,820
4,804
46,898
What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Oa. 5381,211
Ob. 5402,315
Oc. $275,399
Od. 5194,025](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fef6169ff-5d89-47b5-b5fc-b7e16111518c%2F3ef1e817-73e0-459d-acf7-4019fa23216f%2Fee25qhp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were
$40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
Beginning
$56,955
102,670
88,019
8,748
78,333
Cash
Accounts receivable
Inventories
Prepaid expenses
Accounts payable (merchandise creditors)
End
$46,796
125,836
100,820
4,804
46,898
What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Oa. 5381,211
Ob. 5402,315
Oc. $275,399
Od. 5194,025
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