Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could someone elabrorate on how to find those numbers? Thanks Requirement 1. Compute cash flows from operating activities using the indirect method. (Use parentheses or

could someone elabrorate on how to find those numbers? Thanks image text in transcribed
image text in transcribed
Requirement 1. Compute cash flows from operating activities using the indirect method. (Use parentheses or a minus sign for numbers to be subtracted.) Cash flows from operating activities: Net income $ 35,000 Adjustments to reconcile net income to net cash provided by (used for) operating activities: Depreciation expense 7,000 Loss on sale of land 6,000 Decrease in current liabilities (21,000) Increase in current assets other than cash (21,000) (29,000) Net cash provided by (used for) operating activities 6,000 Requirement 2. Evaluate the operating cash flow of Star, Inc. Give the reason(s) for your evaluation $ Operating cash flow is as shown by the operating activities. Data Table Net income. $ 35,000 Depreciation expense. 7,000 Sales revenue..... 8,000 Decrease in current liabilities. 21,000 6,000 Loss on sale of land... Increase in current assets other than Cash ... 21,000 Acquisition of land. 38,000

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_2

Step: 3

blur-text-image_3

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

Advanced Operations Management

Authors: David Loader

2nd Edition

0470026545, 978-0470026540

Students also viewed these Accounting questions

Question

Give the framework of MRP II and explain it. AppendixLO1

Answered: 1 week ago