Question
+The net income reported on the income statement for the current year was $825,000. Depreciation recorded on fixed assets and amortization of patents for the
+The net income reported on the income statement for the current year was $825,000. Depreciation recorded on fixed assets and amortization of patents for the year were $50,000 and $4,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
End | Beginning | |
Accounts receivable | 136,000 | 132,000 |
Inventories | 109,000 | 97,000 |
Prepaid expenses | 6,500 | 4,500 |
Accounts payable (merchandise creditors) | 96,000 | 82,000 |
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Question 11 options:
|
$911,000
|
|
$903,000
|
|
$875,000
|
|
$847,000
|
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