Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lala land Company has the following financial Information: Time left o: Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 134,500 Accounts recelvable 33,200

image text in transcribed
Lala land Company has the following financial Information: Time left o: Balance Sheets Dec. 31, 2020 Dec. 31, 2021 Cash 152,400 134,500 Accounts recelvable 33,200 35.000 200,600 175,500 Inventory Prepaid Expenses 22,000 20,000 Long term Investments 300.000 420,000 250,000 205,000 98,600 105.000 Plant, Property and Equipment (net) Accounts payable Short term notes payable Taxes payable 62,000 40.000 35,600 13,500 Long term liabilities 134,000 140.000 Stockholders' Equity 628.000 691,500 Income statement Sales revenue $ 570.000 300,000 $ 270,000 13.000 Cost of goods sold Gross profit Depreciation Expense other operating costs Loss on sale of plant assets Net Income for the year 166.500 2.000 $ 88,500 Required: Calculate the cash flow from operating activities for the year ended December 31, 2021. using the Indirect method. (Note: write your answer as a number only, with No dollar signs or commas)

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

The Audit Process Principles Practice And Cases

Authors: Stuart Manson, Iain Gray, Iain G. Sheffield, I.H. Gray, I. Etal Gray

2nd Edition

1861520107, 9781861520104

More Books

Students also viewed these Accounting questions

Question

Identify the elements that make up the employee reward package.

Answered: 1 week ago

Question

Understand the purpose, value and drawbacks of the interview.

Answered: 1 week ago