Ames Ltd. reported 2022 net income of HK$151,000. During 2022, accounts receivable increased by HK$13,000 and accounts
Question:
Ames Ltd. reported 2022 net income of HK$151,000. During 2022, accounts receivable increased by HK$13,000 and accounts payable increased by HK$9,500. Depreciation expense was HK$44,000. Prepare the cash flows from operating activities section of the statement of cash flows amounts in thousands.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
For the year ended December 312022 cash flow from operating ac...View the full answer
Answered By
Pooja Devi
I have done my B. Com from Himachal Pradesh University.
After that I worked for 2 year with Xiaomi(Mi) company.
I worked in Govt. Senior secondary school Tihra as a Accounts and business studies teacher.
I also taught tuition at home to +2 standard students.
I am also a chegg tutor , coursehero and study. Com tutor.
Now I am teaching in a private school in Maharashtra India.
I also working in GST office where I files GST and Income tax returns.
0.00
0 Reviews
10+ Question Solved
Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Question Posted:
Students also viewed these Business questions
-
For Part I of the Assignment, please read the case What Motivated Workers in the Face of a Pandemic? given on Page number 558, Chapter 12 Motivating Employees available in your textbook/e-textbook...
-
The income statement and a schedule reconciling cash flows from operating activities to net income are provided below for Macro Soft Corporation. Required: Prepare the cash flows from operating...
-
The indirect method for reporting cash flows from operating activities can create an erroneous impression about noncash expenses (such as depreciation). What is the impression and why is it erroneous?
-
What's New 14 el.alphacollege.ca 500 Alpha College E-learning of My Courses Development is informal with a loner-term focus Select one: O True O False Training is formal with a short-term focus....
-
(a) Find the length of the curve y = x4/16 + 1/2x2, 1 x 2 b) Find the area of the surface obtained by rotating the curve in part (a) about the -axis.
-
Erikstein Colleges statement of financial position for the year ended June 30, 2013, is presented here. Erikstein is a private college. The following transaction information pertains to the year...
-
The firm's decision as to how to raise money is more formally referred to as: a. The capital-structure decision b. The capital-budgeting decision c. The dividend decision d. The financial-management...
-
A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms...
-
When testing a new treatment, what is the difference between statistical significance and practical significance? Can a treatment have statistical significance, but not practical significance? Choose...
-
A retail lease for 10,000 square feet of rentable space is being negotiated for a five-year term. Option A calls for a base rent of $25 per square foot for the coming year with step-ups of $1 per...
-
Martinez SA engaged in the following cash transactions during 2022. Sale of land and building ........................... R$191,000 Purchase of treasury shares ............................ 40,000...
-
Manchester United sold 10,000 season tickets at 2,000 each. By December 31, 2022, 8 of the 20 home games had been played. What amount should be reported as a current liability at December 31, 2022?
-
Dannica Corporation produces products that it sells for $40 each. Variable costs per unit are $25, and annual fixed costs are $360,000. Dannica desires to earn a profit of $150,000. Required a. Use...
-
Skippy wants to have $18,000.00 in 7 years. His bank is offering an account that earns 2% compounded monthly. How much does he need to deposit to reach his goal? Round your final answer up to the...
-
2. Three students are chosen randomly to be class president, vice president, and treasurer. No student can hold more than one office. (a) What is the probability that Mary is president, Cory is vice...
-
The current price of a non - dividend paying stock is $ 5 0 . Consider an American put option on the stock with a strike price of $ 4 8 that expires in 1 2 months. In each of the next six month...
-
Cinder Inc. is a Canadian - controlled private corporation based in your province. The company operates a wholesale business. The following information is provided for its year ended May 3 1 , 2 0 2...
-
Use part one of the fundamental theorem of calculus to find the derivative of the function. y' = 3x + 5 t y = dt 1+ 3
-
Greyhound Stables, Inc. operates several dog racing tracks throughout the United States. Since most facilities are outdoor tracks only, most of the cash receipts for Greyhound are received from April...
-
Huntingdon Capital Corp. is a competitor of Plazacorp and First Capital Realty. Huntingdon reported the following selected information (in millions):...
-
Mishima, Inc. indicated in a recent annual report that approximately $19 million of merchandise was received on consignment. Should Mishima, Inc. report this amount on its balance sheet? Explain.
-
What is a product financing arrangement? How should product financing arrangements be reported in the financial statements?
-
Where, if at all, should the following items be classified on a balance sheet? (a) Goods out on approval to customers. (b) Goods in transit that were recently purchased f.o.b. destination. (c) Land...
-
Problem 2-24 (Static) Transaction analysisquantitative; analyze results LO 2-2, 2-3, 2-6 Rudy Gandolfi owns and operates Rudy's Furniture Emporium Incorporated. The balance sheet totals for assets,...
-
What goes with tuition revenue on an income statement
-
Payroll liabilities include two of the following types of amounts: Note: Check all that apply Check All That Apply Amounts withheld from employee paychecks that must be paid to third parties, such as...
Study smarter with the SolutionInn App