Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can someone please help me with this questions Martine Transportation (MT) Degen 2020 with accounts receivable, inventory, and proped expenses totaling 582,000. At the end
can someone please help me with this questions
Martine Transportation (MT) Degen 2020 with accounts receivable, inventory, and proped expenses totaling 582,000. At the end of the year, MT had a total of 71.000 for these curent assets. At the beginning of 2020, MT owed current abilities of $48,000, and at year-end, current liabilities totailed $40.000 Net income for the year was 542.000 Included in net income were a $3,000 gan on the sale of land and depreciation expense of $10,000 Show how it should report cash fows from operating activities for 2020, MT uses the direct method (Use parentheses or a minus sign for numbers to be subtracted or a net decrease in cash) Cash flows from operating activities: Net income Adjustments to reconcile net income to not cash provided by operating activities Depreciation Ganonse of land Increase in accounts rovati, inventory and prepad expenses Degree in current Mobilios Nint cash provided by operating activities Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started