The income statement disclosed the following items for the year: The changes in the current asset and

Question:

The income statement disclosed the following items for the year:

The changes in the current asset and liability accounts for the year are as follows:

a. Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method.

b. Briefly explain why net cash flows from operating activities is different from net income.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

See More Books

Question Posted: Apr 14, 2021 06:12 AM

See More Questions

The income statement disclosed the following items for 2010: Depreciation expense $ 36,000 Gain on disposal of equipment 21,000 Net income 317,500 Balances of the current assets and current liability...
The income statement disclosed the following items for 2013: Depreciation expense .........$ 21,600 Gain on disposal of equipment ......12,600 Net income ..............190,500 Balances of the current...
The income statement disclosed the following items for 2014: Depreciation expense .......... $ 72,000 Gain on disposal of equipment....... 42,000 Net income ............... 635,000 Balances of the...
Determine the products of inertia of the uniform slender rod of mass m about the coordinate axes shown. h b
Draw indifference curves to represent the following types of consumer preferences. a) I like both peanut butter and jelly, and always get the same additional satisfaction from an ounce of peanut...
Current Attempt in Progress During 2021, Crane Company had the following activities related to its financial operations: Carrying value of convertible preferred stock in Crane, converted into common...
The Carrefour Group reports the following description of its trading securities (titled financial assets reported at fair value in the income statement). Note 10 to Carrefours 2010 financial...
Golden Corporation has $20,000,000 of 7 percent, 20-year bonds dated June 1, 2010, with interest payment dates of May 31 and November 30. After 10 years, the bonds are callable at 104, and each...
Ethan and Mary Varela are married. Ethan is employed as an engineer for a large multi-national company, and Mary operates a small, unincorporated business selling dental supplies and providing...
Palmer, a U.S. company, acquired 90% of Scalas voting stock for $32,600 in cash on January 1, 2019, when Scalas book value was $5,000. The fair value of the noncontrolling interest at the date of...
Featherstone Inc. reported the following data: Net income ................................... $296,000 Depreciation expense ................... 113,100 Gain on disposal of equipment ...... 58,500...
Yeoman Inc. reported the following data: Net income .......................................... $170,000 Depreciation expense ............................ 29,000 Loss on disposal of equipment...
Three major segments of the transportation industry are motor carriers, such as YRC Worldwide; railroads, such as Union Pacific; and transportation arrangement services, such as C.H. Robinson...
Analysis of workforce data, performance, and engagement. Datasets: Employees Table Column Name Data Type Description employee_id Integer Unique identifier for each employee department_id Integer...
Discuss your observations of the Data Wrangling process. Does this exercise highlight why data wrangling and preparation can take up 60-70% of the total data analysis process? it does. How do i say...
Examine potential implications od regulations, legislation and standards upon decision making in a hospitality organisation, providing specific examples
54. .. A baton twirler in a marching band complains that her baton is defective (Figure 9-48). The manufacturer specifies that the baton should have an overall length of L = 60.0cm and a total mass...
New United Motor Manufacturing, Inc. was an American automobile manufacturing company in Fremont, California , jointly owned by General Motors and Toyota that opened in 1 9 8 4 and closed in 2 0 1 0...
The report TV Drama/Comedy Viewers and Health Information (cdc.gov/healthcommunication/pdf /healthstyles_2005.pdf, retrieved April 25, 2017) describes the results of a large survey that was conducted...
6 (a) Briefly develop a mathematical model of the behaviour of a copper-twisted pair cable (b) Derive the magnetic energy from: w given that: K + w, where the - - k symbols have their usual meaning...
The outstanding capital stock of Pennington Corporation consists of 2,000 shares of $100 par value, 6% preferred, and 5,000 shares of $50 par value common. Assuming that the company has retained...
The outstanding capital stock of Pennington Corporation consists of 2,000 shares of $100 par value, 6% preferred, and 5,000 shares of $50 par value common. Assuming that the company has retained...
The outstanding capital stock of Pennington Corporation consists of 2,000 shares of $100 par value, 6% preferred, and 5,000 shares of $50 par value common. Assuming that the company has retained...
Please help me answer all these question one by one. THE COMPANY IS GOING TO BE WALMART (PLEASE DO NOT USE AND PREVIOUS STUDENT ANSWERS) Remember, one-page memo first. search the web for these...
keAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Print Item Using the data below for the Ace Guitar Company: 6 A Region Sales B Region $500,000 Cost of goods sold $900,000...
please answer both parts Winston Company estimates that total factory overhead for the following year will be $979,200. The company has decided that the basis for applying factory overhead should be...

The income statement disclosed the following items for the year: The changes in the current asset and

Question:

Depreciation expense Gain on disposal of equipment $ 57,000 24,000 Net income 542,000

Step by Step Answer:

Cash flow from operating activities indirect method a Particulars Net Profit Add Non operating add n...View the full answer

Accounting

Students also viewed these Business questions