GW Photography reported net income of $100,000 for 2012. Included in the income statement were depreciation expense
Question:
GW Photography reported net income of $100,000 for 2012. Included in the income statement were depreciation expense of $6,300, patent amortization expense of $4,000, and a gain on sale of equipment of $3,600. GW??s comparative balance sheets show the following balances.
Calculate net cash provided by operating activities for GW Photography.
Transcribed Image Text:
12/31/12 12/31/11 Accounts receivable Accounts payable $21,000 9,200 $27,000 6,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
Cash flows from operating activities Net income 100000 Adjustments to rec...View the full answer
Answered By
Sidharth Jain
My name is Sidharth. I completed engineering from National Institute of Technology Durgapur which is one of the top college in India. I am currently working as an Maths Faculty in one of the biggest IITJEE institute in India. Due to my passion in teaching and Maths, I came to this field. I've been teaching for almost 3 years.
Apart from it I also worked as an Expert Answerer on Chegg.com. I have many clients from USA to whom I teach online and help them in their assignments. I worked on many online classes on mymathlab and webassign. I guarantee for grade 'A'.
4.90+
3+ Reviews
10+ Question Solved
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The computation of cash provided by operating activities requires analysis of the noncash current asset and current liability accounts. Determine the missing amounts for each of the following...
-
Following are the line items included in the 2009 statement of cash ows prepared by The Nine Muses, Inc. (amounts are in thousands): Proceeds from sale of long-term...
-
In 2008, Chevron reported net income of $23.9 billion, $5.4 billion of which was income recognized on investments in affiliate companies accounted for under the equity method. In that same year,...
-
Although illegal, overloading is common in the trucking industry. A state highway planning agency (Minnesota Department of Transportation) monitored the movements of overweight trucks on an...
-
The jet engine shown scoops in air at A at a rate of 200 lb/s and discharges it at B with a velocity of 2000 ft/s relative to the airplane. Determine the magnitude and line of action of the...
-
Spiro Savings Bank currently holds a government bond valued on the day of its purchase at $5 million, with a promised interest yield of 6 percent, whose current market value is $3.9 million....
-
(Compute average return and sigma) Go to the Principles of Finance with Excel companion website for Chapter 7, where youll find a template for daily adjusted closing prices for AMD Corporations stock...
-
IM Systems assembles microcomputers from generic components. It purchases its color monitors from a manufacturer in Taiwan; thus, there is a long lead time of 25 days. Daily demand is normally...
-
Lucia Company has two service departments: Office and Purchasing. Total expenses for the Office is $ 4 3 , 4 0 0 and for Purchasing is $ 5 7 , 8 0 0 . Expenses for the Office are allocated to...
-
Peyton Smith enjoys listening to all types of music and owns countless CDs. Over the years, Peyton has gained a local reputation for knowledge of music from classical to rap and the ability to put...
-
Kirby Corporation had the following transactions. 1. Issued $160,000 of bonds payable. 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for...
-
Barnish Corporation issued the following statement of cash flows for 2012. (a) Compute free cash flow for Barnish Corporation. (b) Explain why free cash flow often provides better information than...
-
On April 20, 2010 there was a blowout and then an explosion aboard the Deepwater Horizon platform of the Macondo oil well being drilled in very deep water in the Gulf of Mexico. Eleven people aboard...
-
2. Identify these muscles highlighted in the image below, that acting together flex the neck, and acting individually draw the head to the same side shoulder? (1 point) 3. Identify the name given to...
-
in January 2018 photo studios acquires new camera. The price of the cameras is 1750 how can i calculate the impairment loss of the camera at the end of 2020, taking into account that the recoverable...
-
discuss the role of continuous feedback and coaching in performance management, emphasizing the importance of ongoing dialogue, skill development, and performance improvement planning in driving...
-
Discuss how the five forces model can be used to analyze the pharmaceutical industry and determine the best strategies for success.
-
What developmental test would you conduct to see how an item would perform under tropical conditions of heat and moisture?
-
The following information is available for Revelle Company. Sales price per unit is \($80.\) November and December, sales were budgeted at 3,100 and 3,550 units, respectively. Variable costs are...
-
It is possible to investigate the thermo chemical properties of hydrocarbons with molecular modeling methods. (a) Use electronic structure software to predict cHo values for the alkanes methane...
-
How would you describe the shape of the water and ozone molecules? Follow the convention! Ignore the lone pairs on each central atom. Cover them up and use a word or phrase that best describes the...
-
Gary Theater is in the Hoosier Mall. A cashier's booth is located near the entrance to the theater. Two cashiers are employed. One works from 1:00 to 5:00 P.M., the other from 5:00 to 9:00 P.M. Each...
-
Gary Theater is in the Hoosier Mall. A cashier's booth is located near the entrance to the theater. Two cashiers are employed. One works from 1:00 to 5:00 P.M., the other from 5:00 to 9:00 P.M. Each...
-
Blue Bayou Middle School wants to raise money for a new sound system for its auditorium. The primary fund-raising event is a dance at which the famous disc jockey Kray Zee will play classic and...
-
Exercise 1 5 - 5 ( Algo ) Sales - type lease; lessor; balance sheet and income statement effects [ LO 1 5 - 3 ] On June 3 0 , 2 0 2 4 , Georgia - Atlantic, Incorporated leased warehouse equipment...
-
McCullough Hospital uses a job - order costing system to assign costs to its patients. Its direct materials include a variety of items such as pharmaceutical drugs, heart valves, artificial hips, and...
-
The following budgeted information is provided: \ table [ [ Month , 1 , 2 , 3 ] , [ Sales in units, 2 4 , 0 0 0 , 2 9 , 0 0 0 , 2 7 , 0 0 0 ] , [ Production in units, 2 5 , 0 0 0 , 3 1 , 0 0 0 , 2 4...
Study smarter with the SolutionInn App