{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-07T20:18:12-04:00", "answer_date": "2024-06-07 20:18:12", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2438209", "url": "\/study-help\/questions\/the-net-income-reported-on-the-income-statement-for-the-2438209", "question_creation_date_js": "2024-06-07T20:18:12-04:00", "question_creation_date": "Jun 07, 2024 08:18 PM", "meta_title": "[Solved] The net income reported on the income sta | SolutionInn", "meta_description": "Answer of - The net income reported on the income statement for the current year was $ 2 5 0 , 0 0 0 . Depreciation recorded on fi | SolutionInn", "meta_keywords": "net,income,reported,statement,current,year,$,2,5,depreciation,recorded,fixed", "question_title_h1": "The net income reported on the income statement for the current year was $ 2 5 0 , 0 0 0 . Depreciation recorded on", "question_title": "The net income reported on the income statement for the current year", "question_title_for_js_snippet": "The net income reported on the income statement for the current year was $ 2 5 0 , 0 0 0 Depreciation recorded on fixed assets and amortization of patents for the year were $ 4 0 , 0 0 0 and $ 9 , 0 0 0 , respectively Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows EndBeginningCash$ 5 0 , 0 0 0 $ 6 0 , 0 0 0 Accounts receivable 1 1 2 , 0 0 0 1 0 8 , 0 0 0 Inventories 1 0 5 , 0 0 0 9 3 , 0 0 0 Prepaid expenses 4 , 5 0 0 6 , 5 0 0 Accounts payable ( merchandise creditors ) 7 5 , 0 0 0 8 9 , 0 0 0 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method $ 2 7 1 , 0 0 0 $ 2 7 9 , 0 0 0 $ 3 2 7 , 0 0 0 $ 2 5 6 , 0 0 0", "question_description": "
The net income reported on the income statement for the current year was $<\/span>2<\/mn>5<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>.<\/mo><\/mrow><\/math>Depreciation recorded on fixed assets and amortization of patents for the year were $<\/span>4<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> and $<\/span>9<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>,<\/mo><\/mrow><\/math> respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:EndBeginningCash$ <\/span>5<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>$ <\/span>6<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>Accounts receivable<\/span>1<\/mn>1<\/mn>2<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>1<\/mn>0<\/mn>8<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>Inventories<\/span>1<\/mn>0<\/mn>5<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>9<\/mn>3<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>Prepaid expenses<\/span>4<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn>6<\/mn>,<\/mo>5<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>Accounts payable <\/span>(<\/mi><\/mrow><\/math>merchandise creditors<\/span>)<\/mi>7<\/mn>5<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn>8<\/mn>9<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? $<\/span>2<\/mn>7<\/mn>1<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> $<\/span>2<\/mn>7<\/mn>9<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> $<\/span>3<\/mn>2<\/mn>7<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math>$<\/span>2<\/mn>5<\/mn>6<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> <\/div><\/span> <\/div><\/div>", "transcribed_text": "", "related_book": { "title": "Accounting Information System", "isbn": "978-1439078570, 1439078572", "edition": "7th Edition", "authors": "James A. Hall", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/210.jpg", "uri": "\/textbooks\/accounting-information-system-7th-edition-9781439078570", "see_more_uri": "" }, "free_related_book": { "isbn": "0323852092", "uri": "\/textbooks\/machine-learning-for-biometrics-concepts-algorithms-and-applications-1st-edition-9780323852098", "name": "Machine Learning For Biometrics Concepts Algorithms And Applications", "edition": "1st Edition" }, "question_posted": "2024-06-07 20:18:12", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/goal-sports-ltd-is-authorized-to-issue-3000000-of-10", "description": "Goal Sports Ltd. is authorized to issue $3,000,000 of 10%, 10-year bonds payable. 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