Question
Thank you. 1/ Ludwig Company's prepaid rent was $7,500 at December 31, 2020, and $14,500 at December 31, 2021. Ludwig reported rent expense of $19,000
Thank you.
1/ Ludwig Company's prepaid rent was $7,500 at December 31, 2020, and $14,500 at December 31, 2021. Ludwig reported rent expense of $19,000 on the 2021 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method? $19,000, $12,000, $26,000, None of these answer choices are correct.
2/ S Company reported net income for 2021 in the amount of $410,000. The company's financial statements also included the following:
Increase in accounts receivable | $ | 85,000 | |
Decrease in inventory | 61,000 | ||
Increase in accounts payable | 290,000 | ||
Depreciation expense | 100,000 | ||
Gain on sale of land | 145,000 | ||
What is net cash provided by operating activities under the indirect method?
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$1,091,000.
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$801,000.
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$631,000.
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$601,000.
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