Question
The records of Paramount Color Engraving reveal the following: Net Income: $40,000 Sales Rev.: 47,000 Loss on sales of land: 5,000 Acquisition of land: 39,000
The records of Paramount Color Engraving reveal the following:
Net Income: $40,000
Sales Rev.: 47,000
Loss on sales of land: 5,000
Acquisition of land: 39,000
Depreciation Expense: $11,000
Decrease in current liabilites: 24,000
Increase in current assets other than case: 15,000
Compute cash flows from operating activities by the indirect method for the year ended December 31, 2016.
| Cash flows from operating activities | Amount | Amount |
|---|---|---|
| Net Income |
| |
| Adjustments to reconcile net income to net cash provided | ||
| (used) Operating Activities | ||
| Depreciation Expense |
| |
| Loss on sale of land | ||
| Increase in current assets other than cash |
| |
| Decrease in current liabilities |
|
|
| Net cash provided by (used by) operating activities |
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
