What did Bell report for "Net cash from financing activities" during the year?
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On its annual statement of
Net cash from operating activities $1,778
Net cash from investing activities (25,005)
Cash at the beginning of the year 5,261
Change in cash during the year 2,318
What did Bell report for "Net cash from financing activities" during the year?
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- On the indirect statement of cash flows, $500,000 relating to notes payable was subtracted from net income to get indirect cash flow from operations. This must mean that: Notes payable were $500,000 at the beginning of the year. O Notes payable were $500,000 at the end of the year. Incorrect. Notes payable increased by $500.000 over the year. Notes payable decreased by $500,000 over the year.Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for a recent year ended December 31. The following information was reported in the Cash flows from operating activities section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $ 7,700Decrease in inventories 19,140Depreciation 29,480Gain on sale of investments 13,200Increase in accounts payable 5,280Increase in prepaid expenses 2,970Increase in accounts receivable 14,300a. Determine the net income reported by Curwen Inc. for the year ended December 31.b. Briefly explain why Curwen’s net income is different from net cash flow from operating activities.Accounts receivable from sales transactions were $45,878 at the beginning of the year and $60,085 at the end of the year. Net income reported on the income statement for the year was $139,730. Exclusive of the effect of other adjustments, what is the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method?
- es Arundel Company disclosed the following information for its recent calendar year. Selected Year-End Balance Sheet Data $ 85,000 Accounts receivable decrease Purchased a machine for cash Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Interest expense Net loss 72,000 33,000 31,600 8,900 $ (60,500) Salaries payable increase Interest payable decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should b indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from operating activities-indirect method Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ $ 23,000 22,000 23,000 16,000. 0A company reports net income of $560,000 that Includes depreciation expense of $82,000. Also, cash of $59,000 was borrowed on a 6-year note payable. Based on this data, total cash inflows from operating activities are: Multiple Cholce $478,000. $642,000. $619,000. $701,000.All the activities of cash flows
- Kennedy, Inc., reported the following data: Net income $122,135 Depreciation expense 12,690 Loss on disposal of equipment (8,856) Gain on sale of building 18,988 Increase in accounts receivable 8,409 Decrease in accounts payable (2,837) Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc.Statement of Cash Flows Cash flows from (used for) operating activities: $- Select - Adjustments to reconcile net income to net cash flows from (used for) operating activities: - Select - - Select - - Select - Changes in current operating assets and liabilities: - Select - - Select -Accounts receivable from sales transactions were $45,331 at the beginning of the year and $66,395 at the end of the year. Net income reported on the income statement for the year was $118,325. Exclusive of the effect of other adjustments, the net cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be Oa. $21,064 Ob. $118,325 Oc. $97,261 Od. $139,389Curwen Inc. reported net cash flows from operating activities of $357,500 on its statement of cash flows for a recent year ended December 31. The following information was reported in the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $7,700 Decrease in inventories 19,140 Depreciation 29,480 Gain on sale of investments 13,200 Increase in accounts payable 5,280 Increase in prepaid expenses 2,970 Increase in accounts receivable 14,300 a. Determine the net income reported by Curwen Inc. for the year ended December 31.$fill in the blank 1 b. Curwen’s net income differed from net cash flows from operations because of the following: Depreciation expense, which has no effect on cash flows from operating activities. Gain on the sale of investments is reported in investing activities section of the cash flow statement. Changes in current operating assets and liabilities that…
- Rogers Company reported net income of $43,319 for the year. During the year, accounts receivable increased by $7,282, accounts payable decreased by $3,300, and depreciation expense of $7,495 was recorded. Net cash provided by operating activities under the indirect method for the year is?How would I record the statement of cash flow?Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Revenues Expenses: Salaries expense Utilities expense Depreciation expense Other expenses Net loss $ 95,000 73,000 35,000 28,800 9,000 $(50,800) Cash flows from operating activities Selected Year-End Balance Sheet Data Accounts receivable decrease Purchased a machine for cash Salaries payable increase Other accrued liabilities decrease Prepare the operating activities section of the statement of cash flows using the indirect method. (Any loss or amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) $25,000 19,000 24,000 15,000