Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

20 (5 points) Ocean Pines Company had net income $500,000. They also had depreciation expense of $125,000, an increase or (decrease) in accounts receivable of

image text in transcribedimage text in transcribed 20 (5 points) Ocean Pines Company had net income $500,000. They also had depreciation expense of $125,000, an increase or (decrease) in accounts receivable of $60,000, and an increase or (decrease) in inventory of $-25,000. Ocean Pines prepares their Statement of Cash Flows using the indirect method. Use this information to determine the dollar value of cash provided or (used) by operating activities. A negative number for accounts receivable or inventory indicates that the balance decreased. Enter as a whole number (no cents). Your Answer: Answer Question 12 (5 points) Annapolis Company purchased a $2,000, 5%, 5-year bond at 105 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment? (all money received minus all money paid, round to nearest whole dollar) Your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting an introduction to concepts, methods and uses

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

13th Edition

978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003

More Books

Students also viewed these Accounting questions

Question

Charlie Driver was pleased with the results of 3C Company

Answered: 1 week ago