Question
Cash Flows from (Used for) Operating Activities The income statement disclosed the following items for the year: Depreciation expense $41,100 Gain on disposal of equipment
Cash Flows from (Used for) Operating Activities
The income statement disclosed the following items for the year:
| Depreciation expense | $41,100 |
| Gain on disposal of equipment | 23,960 |
| Net income | 344,300 |
The changes in the current asset and liability accounts for the year are as follows:
| Increase (Decrease) | ||
| Accounts receivable | $6,400 | |
| Inventory | (3,640) | |
| Prepaid insurance | (1,370) | |
| Accounts payable | (4,340) | |
| Income taxes payable | 1,370 | |
| Dividends payable | 960 | |
a. Prepare the Cash Flows from (used for) 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 (used for) operating activities: | ||
| $fill in the blank b065dbf6d02cf81_2 | ||
| Adjustments to reconcile net income to net cash flows from (used for) operating activities: | ||
| fill in the blank b065dbf6d02cf81_4 | ||
| fill in the blank b065dbf6d02cf81_6 | ||
| Changes in current operating assets and liabilities: | ||
| fill in the blank b065dbf6d02cf81_8 | ||
| fill in the blank b065dbf6d02cf81_10 | ||
| fill in the blank b065dbf6d02cf81_12 | ||
| fill in the blank b065dbf6d02cf81_14 | ||
| fill in the blank b065dbf6d02cf81_16 | ||
| Net cash flows from operating activities | $fill in the blank b065dbf6d02cf81_17 | |
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Critical Marketing Audit The Case Of Apple Inc.
Authors: Joseph Katie
1st Edition
365637712X, 978-3656377122
