Homework Answers
| Answer is $550,000 | ||
| Cash flows from operating activities | ||
| Net income | $561,000 | |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation expense | 84,000 | |
| Increase in accounts receivable | (44,000) | |
| Increase in inventory | (18,000) | |
| Decreases in prepaid expenses | 2,000 | |
| Decrease in accounts payable | (35,000) | (11,000) |
| Net cash provided by operating activities | 550,000 |
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Multiple Choice Question 129 The net income reported on the income statement for the current year...
Current Attempt in Progress The net income reported on the income statement for the current year...
Current Attempt in Progress The net income reported on the income statement for the current year was $224000. Depreciation recorded on plant assets was $35300. Accounts receivable and inventories increased by $2500 and $7800, respectively. Prepaid expenses and accounts payable decreased by $1700 and $12200 respectively. How much cash was provided by operating activities? O $238500 O $224000 $259300 $204000 Savetor La Attempts: 0 of 1 used Submit Answer
Multiple Choice Question 129 Pharoah Company had net income of $1103600 for the year ending 12/31/2022....
Multiple Choice Question 129 Pharoah Company had net income of $1103600 for the year ending 12/31/2022. Depreciation expense for 2022 is $136400. During the year, accounts receivable and inventory increased $74400 and $198400, respectively. Prepaid expenses and accounts payable decreased $9920 and $19840, respectively. There was also a loss on the sale of equipment of $14880. How much cash was provided by operating activities in 2022? $972160. $1339200. $942400. O O O $1398720.
1-3-1 The net income reported on the income statement of Kingbird, Inc. for the current year...
1-3-1 The net income reported on the income statement of Kingbird, Inc. for the current year was $1550000. Depreciation recorded on plant assets was $293000. Accounts receivable and inventories increased by $82000 and $55000, respectively. Prepaid expenses and accounts payable decreased by $7000 and $75000, respectively. How much cash was provided by operating activities during the year? $1573000. $1638000. $1710000. $2048000.
1-3-2 Sheffield Corp.'s net income for the current year was $541000. Depreciation recorded on plant assets...
1-3-2 Sheffield Corp.'s net income for the current year was $541000. Depreciation recorded on plant assets was $81000. Accounts receivable and inventories increased by $42000 and $17000, respectively. Supplies and accounts payable decreased by $2000 and $34000, respectively. A $500,000 convertible bond was retired through the issuance of common stock. How much cash was provided by operating activities? $531000. $493000. $713000. $510000.
The net income reported on the income statement for the current year was $242000. Depreciation was...
The net income reported on the income statement for the current year was $242000. Depreciation was $39600. Account receivable and inventories decreased by $12300 and $34900, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $8300. How much cash was provided by operating activities? $307000 $319300 $292700 $335900
The net income reported on the income statement for the current year was $545,000. Depreciation was $140,000. Accou...
The net income reported on the income statement for the current year was $545,000. Depreciation was $140,000. Account receivable and inventories decreased by $112,000 and $315,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $11,000 and $81,000. How much cash was provided by operating activities? a. $1,182,000 b. $1,204,000 C. $1,316,000 d. $1,311,000
1-3-4 The net income reported on the income statement for the current year was $206000. Depreciation...
1-3-4 The net income reported on the income statement for the current year was $206000. Depreciation was $45000. Accounts receivable and inventories decreased by $4000 and $13000, respectively. Prepaid expenses and accounts payable increased, respectively, by $400 and $12000. Investments were sold at a loss of $20700. How much cash was provided by operating activities? $273400. $300300. $222400. $264400
The net income reported on the income statement for the current year was $295,306. Depreciation recorded...
The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Cash $55,258 Accounts Receivable 125,663 Inventories 108,205 Prepaid Expenses 4,229 Accounts Payable (merchandise creditors) 52,884 What is the amount of cash flows from operating activities reported on...
The net income reported on the income statement for the current year was $252,176. Depreciation recorded...
The net income reported on the income statement for the current year was $252,176. Depreciation recorded on fixed assets and amortization of patents for the year were $37,383, and $10,481, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $36,436 $56,297 Accounts receivable 106,564 129,589 Inventories 82,430 108,912 Prepaid expenses 6,857 2,458 Accounts payable (merchandise creditors) 69,041 45,467 What is the amount of cash...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded on fixed assets and amortization of patents for the year were $31,653 and $11,277, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $40,409 Accounts Receivable 123,538 105,661 $54,459 102,434 85,012 7,461 Inventories Prepaid Expenses Accounts Payable (merchandise creditors) 4,777 48,911 63,828 What is the amount of cash...
Current Attempt in Progress The net income reported on the income statement for the current year was $224000. Depreciation recorded on plant assets was $35300. Accounts receivable and inventories increased by $2500 and $7800, respectively. Prepaid expenses and accounts payable decreased by $1700 and $12200 respectively. How much cash was provided by operating activities? O $238500 O $224000 $259300 $204000 Savetor La Attempts: 0 of 1 used Submit Answer
Multiple Choice Question 129 Pharoah Company had net income of $1103600 for the year ending 12/31/2022. Depreciation expense for 2022 is $136400. During the year, accounts receivable and inventory increased $74400 and $198400, respectively. Prepaid expenses and accounts payable decreased $9920 and $19840, respectively. There was also a loss on the sale of equipment of $14880. How much cash was provided by operating activities in 2022? $972160. $1339200. $942400. O O O $1398720.
The net income reported on the income statement for the current year was $545,000. Depreciation was $140,000. Account receivable and inventories decreased by $112,000 and $315,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $11,000 and $81,000. How much cash was provided by operating activities? a. $1,182,000 b. $1,204,000 C. $1,316,000 d. $1,311,000
The net income reported on the income statement for the current year was $295,306. Depreciation recorded on fixed assets and amortization of patents for the year were $35,984 and $11,635, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Cash $55,258 Accounts Receivable 125,663 Inventories 108,205 Prepaid Expenses 4,229 Accounts Payable (merchandise creditors) 52,884 What is the amount of cash flows from operating activities reported on...
The net income reported on the income statement for the current year was $252,176. Depreciation recorded on fixed assets and amortization of patents for the year were $37,383, and $10,481, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $36,436 $56,297 Accounts receivable 106,564 129,589 Inventories 82,430 108,912 Prepaid expenses 6,857 2,458 Accounts payable (merchandise creditors) 69,041 45,467 What is the amount of cash...
The net income reported on the income statement for the current year was $299,310. Depreciation recorded on fixed assets and amortization of patents for the year were $31,653 and $11,277, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $40,409 Accounts Receivable 123,538 105,661 $54,459 102,434 85,012 7,461 Inventories Prepaid Expenses Accounts Payable (merchandise creditors) 4,777 48,911 63,828 What is the amount of cash...
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