Help Use the following information and the indirect method tocalculate the net cash provided or used by operatingactivities:Net income$15,300Depreciation expense14,000Payment on mortgage payable16,000Gain on sale of land7,300Increase in merchandise inventory 4,150Increase in accounts payable8,350Proceeds from the sale of land8,500

Explanation of Net Cash Provided by Operating ActivitiesNet cash provided by operating activities…

Answered: Use the following information and the…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.19E

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On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Please see the attachment for details:
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:
Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $13,300 Depreciation expense 13,000 Payment on mortgage payable 16,000 Gain on sale of land 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 Proceeds from the sale of land 8,500 a. $37,700. b. $15,600. c. $14,600. d. $30,400. e. $23,100.
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 319,900 February 10 Purchased for cash 499,000 818,900 November 20 Purchased with long-term mortgage note 663,300 1,482,200 Item Section of Statement of Cash Flows Added or Deducted Amount Purchase of land for cash $fill in the blank 3 Purchase of land by issuinglong-term mortgage note $fill in the blank 6
Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of
Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income Depreciation expense Gain on sale of land $ 86,300 13,000 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 $30,400. $14,600. $96,100. O $15,600. O $37,700.
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