{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-14T00:06:27-04:00", "answer_date": "2024-09-14 00:06:27", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10721168", "url": "\/study-help\/questions\/cash-flows-from-operating-activitiesindirect-method-the-net-income-reported-10721168", "question_creation_date_js": "2024-09-14T00:06:27-04:00", "question_creation_date": "Sep 14, 2024 12:06 AM", "meta_title": "[Solved] Cash Flows from Operating ActivitiesIndir | SolutionInn", "meta_description": "Answer of - Cash Flows from Operating ActivitiesIndirect Method The net income reported on the income statement for the current ye | SolutionInn", "meta_keywords": "cash,flows,operating,activitiesindirect,method,net,income,reported,statement,current,year,$146,200", "question_title_h1": "Cash Flows from Operating ActivitiesIndirect Method The net income reported on the income statement for the current year was $146,200. Depreciation recorded on store equipment", "question_title": "Cash Flows from Operating ActivitiesIndirect Method The net income reported on the", "question_title_for_js_snippet": "Cash Flows from Operating ActivitiesIndirect Method The net income reported on the income statement for the current year was $146,200 Depreciation recorded on store equipment for the year amounted to $24,100 Balances of the current asset and current liability accounts at the beginning and end of the year are as follows End of Year Beginning of Year Cash $57,900 $53,270 Accounts receivable (net) 41,510 39,370 Inventories 56,680 59,930 Prepaid expenses 6,370 5,060 Accounts payable (merchandise creditors) 54,250 50,390 Wages payable 29,640 32,920 a Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments Statement of Cash Flows (partial) Cash flows from operating activities $fill in the blank dbba5efff021f9c 2 Adjustments to reconcile net income to net cash flow from operating activities fill in the blank dbba5efff021f9c 4 Changes in current operating assets and liabilities fill in the blank dbba5efff021f9c 6 fill in the blank dbba5efff021f9c 8 fill in the blank dbba5efff021f9c 10 fill in the blank dbba5efff021f9c 12 fill in the blank dbba5efff021f9c 14 Net cash flow from operating activities $fill in the blank dbba5efff021f9c 15", "question_description": "

Cash Flows from Operating ActivitiesIndirect Method<\/p>

The net income reported on the income statement for the current year was $146,200. Depreciation recorded on store equipment for the year amounted to $24,100. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:<\/p>
<\/td> End of Year<\/strong><\/td> Beginning of Year<\/strong><\/td> <\/tr>
Cash<\/td> $57,900<\/td> <\/td> $53,270<\/td> <\/td> <\/tr>
Accounts receivable (net)<\/td> 41,510<\/td> <\/td> 39,370<\/td> <\/td> <\/tr>
Inventories<\/td> 56,680<\/td> <\/td> 59,930<\/td> <\/td> <\/tr>
Prepaid expenses<\/td> 6,370<\/td> <\/td> 5,060<\/td> <\/td> <\/tr>
Accounts payable (merchandise creditors)<\/td> 54,250<\/td> <\/td> 50,390<\/td> <\/td> <\/tr>
Wages payable<\/td> 29,640<\/td> <\/td> 32,920<\/td> <\/td> <\/tr> <\/tbody> <\/table>

a. <\/strong>Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.<\/p>
<\/td> <\/tr>
<\/td> <\/tr>
Statement of Cash Flows (partial)<\/strong><\/td> <\/tr>
Cash flows from operating activities:<\/td> <\/td> <\/td> <\/tr>
<\/td> $fill in the blank dbba5efff021f9c_2<\/td> <\/td> <\/tr>
Adjustments to reconcile net income to net cash flow from operating activities:<\/td> <\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_4<\/td> <\/td> <\/tr>
Changes in current operating assets and liabilities:<\/td> <\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_6<\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_8<\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_10<\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_12<\/td> <\/td> <\/tr>
<\/td> fill in the blank dbba5efff021f9c_14<\/td> <\/td> <\/tr>
Net cash flow from operating activities<\/td> <\/td> $fill in the blank dbba5efff021f9c_15<\/td> <\/tr> <\/tbody> <\/table>", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-14 00:06:27", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/business-statistics-communicating-\/13-which-of-the-following-are-the-assumptions-underlying-the-2009376", "description": "13. Which of the following are the assumptions underlying the use of parametric tests? (a) The data should be normally distributed (b) The samples being tested should have approximately equal...", "stars": 0 }, { "url": "\/1-with-respect-to-the-natural-resources-needed-to-make", "description": "1. With respect to the natural resources needed to make wickable shirts, is Patna or Lucknow the preferred location? Why? 2. With respect to transportation considerations, is Patna or Lucknow the...", "stars": 3 }, { "url": "\/study-help\/questions\/cash-flows-from-operating-activitiesindirect-method-the-net-income-reported-10721168", "description": "Cash Flows from Operating ActivitiesIndirect Method The net income reported on the income statement for the current year was $146,200. Depreciation recorded on store equipment for the year amounted...", "stars": 3 }, { "url": "\/study-help\/questions\/req-2-use-aw-analysis-to-find-the-best-alternative-1915499", "description": "Req #2: Use Aw analysis to find the best alternative for your company starting one of the following projects. Your company MARR is 9.1 %. Draw the cashflow diagram. Projects data First cost, $...", "stars": 3 }, { "url": "\/study-help\/management-accounting\/messers-uptodate-ltd-has-instructed-you-to-prepare-a-cash-1320663", "description": "Messers Up-to-date Ltd. has instructed you to prepare a cash budget for October to December from the following particulars: (i) Cash and bank balance as on October 1, 20,000. (ii) Actual and budgeted...", "stars": 3 }, { "url": "\/study-help\/operations-and-supply-chain-management-the-core\/a-care-warehouse-in-tegucigalpa-honduras-holds-a-variety-of-1397887", "description": "A CARE warehouse in Tegucigalpa, Honduras holds a variety of humanitarian inventory items such as tents, blankets, kitchen utensils, canned food, pallets of water bottles, and medical kits. Over...", "stars": 3 }, { "url": "\/study-help\/particle-physics\/repeat-problem-92-for-a-diverging-mirror-comment-on-any-1374625", "description": "Repeat Problem 92 for a diverging mirror. Comment on any similarities or differences with the two types of mirrors. Data from Problem 92 A converging mirror has a focal length of \\(300...", "stars": 3 }, { "url": "\/study-help\/particle-physics\/a-compound-microscope-consists-of-two-converging-lenses-the-objective-1374581", "description": "A compound microscope consists of two converging lenses, the objective lens and the eyepiece lens, positioned on a common optical axis (Figure 33.47). The objective lens is positioned to form a real,...", "stars": 3 }, { "url": "\/study-help\/particle-physics\/an-object-that-has-a-small-aperture-is-placed-between-1374588", "description": "An object that has a small aperture is placed between a light source and a screen, as shown in Figure 33.4. Which parts of the screen are in the shadow? Data from Figure 33.4 object screen (edge on)...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/placid-lake-corporation-acquired-90-percent-of-the-outstanding-voting-10721167", "next": "\/study-help\/questions\/please-answer-all-the-following-parts-thanks-smartsets-manufactures-headphone-10721169" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Cash Flows from Operating ActivitiesIndirect Method The net income reported on the", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/cash-flows-from-operating-activitiesindirect-method-the-net-income-reported-10721168" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } }