The accrued interest receivable balance at the end of 2018 was $50,000 and it was $36,000...
The accrued interest receivable balance at the end of 2018 was $50,000 and it was $36,000 at the end of 2017.
When preparing a statement of cash flows using the indirect method what corresponding entry do you make?
Choose, one section, either addition or subtraction, and one dollar amount.
|
Financing Activities |
||
|
Investing Activities |
||
|
Operating Activities |
||
|
Add |
||
|
Subtract |
||
|
$14,000 |
||
|
$36,000 |
Homework Answers
Accrued interest receivable is an asset account, which increased by $14,000 during the year, which means cash has gone down by the same amount.
The answer is:-
Operating Activities Subtract $14,000
Add Answer to:
The accrued interest receivable balance at the end of 2018 was
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Current assets
Cash
$111,600
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Accounts receivable
153,000
124,200
Inventory
140,400
111,600
Prepaid expenses
30,600
34,200
Total current assets
$435,600
$430,200
Current liabilities
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$ 28,800
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Total current liabilities
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December 31, 2021 and 2022, are presented here. Ayayai Corp.’s net
income for 2022 was $457,200. Depreciation expense was $75,600.
2022
2021
Current assets
Cash
$111,600
$ 160,200
Accounts receivable
153,000
124,200
Inventory
140,400
111,600
Prepaid expenses
30,600
34,200
Total current assets
$435,600
$430,200
Current liabilities
Accrued expenses payable
$ 10,800
$ 28,800
Accounts payable
158,400
129,600
Total current liabilities
$169,200
$ 158,400
Prepare the net cash provided by operating activities...
The current sections of Ayayai Corp.’s balance sheets at
December 31, 2021 and 2022, are presented here. Ayayai Corp.’s net
income for 2022 was $457,200. Depreciation expense was $75,600.
2022
2021
Current assets
Cash
$111,600
$ 160,200
Accounts receivable
153,000
124,200
Inventory
140,400
111,600
Prepaid expenses
30,600
34,200
Total current assets
$435,600
$430,200
Current liabilities
Accrued expenses payable
$ 10,800
$ 28,800
Accounts payable
158,400
129,600
Total current liabilities
$169,200
$ 158,400
Prepare the net cash provided by operating activities...
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