Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Additional information: PPE purchases during 205 were $735,000 Issuance of mortgage payable during 205$226,000 The company follows ASPE. All prepaid expenses at the beginning of

image text in transcribed
image text in transcribed
image text in transcribed
Additional information: PPE purchases during 205 were $735,000 Issuance of mortgage payable during 205$226,000 The company follows ASPE. All prepaid expenses at the beginning of the year expired during 205. $5,000 was accrued for operating expenses at year end. Bernie's Ltd. Balance sheet Assets Cash Accounts receivable Inventory Interest receivable Prepaids Long term receivable from Dennis's Ltd. Property, Plant and Equipment (PPE), net Total \begin{tabular}{rr} 57,000 & 101,000 \\ 224,000 & 192,000 \\ 323,000 & 330,000 \\ 8,000 & 3,000 \\ 18,000 & 17,000 \\ 26,000 & - \\ 1,087,000 & 525,000 \\ \hline 1,743,000 & 1,168,000 \end{tabular} Liabilities AccountspayableAccruedliabilitiesWagespayableMortgagepayable220,0005,0006,000384,000137,0007,00012,000185,000 Shareholder's Equity Common shares Retained earnings Total \begin{tabular}{rr} 861,000 & 619,000 \\ 267,000 & 208,000 \\ \hline 1,743,000 & 1,168,000 \end{tabular} What is the total net cash inflow or outflow from operating activities as it appears on the cash flow statement when using the indirect method? Multiple Choice $187.000 $168,000 None of the other aternatives are correct $206,000 ($168,000)

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

Managerial Accounting For Clarion University Of Pennsylvania

Authors: Ray H. Garrison

14th Edition

0077577515, 978-0077577513

More Books

Students also viewed these Accounting questions

Question

Define Administration and Management

Answered: 1 week ago

Question

Define organisational structure

Answered: 1 week ago

Question

Define line and staff authority

Answered: 1 week ago