Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $73,000 $76,650 Accounts receivable (net) 92,560 94,590 Inventories 182,500 162,960 Prepaid expenses 10,150 10,810 Accounts payable (merchandise creditors) 81,540 85,540 Salaries payable 11,750 10,650 Question Content Area a. Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankblankStatement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities: - Select - Changes in current operating assets and liabilities: - Select - - Select - - Select - - Select - - Select - Net cash flow from operating activities $fill in the blank 0b4225fa6006ff6_15 Feedback Area
Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $73,000 $76,650 Accounts receivable (net) 92,560 94,590 Inventories 182,500 162,960 Prepaid expenses 10,150 10,810 Accounts payable (merchandise creditors) 81,540 85,540 Salaries payable 11,750 10,650 Question Content Area a. Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. blankblankStatement of Cash Flows (partial) Cash flows from operating activities: $- Select - Adjustments to reconcile net income to net cash flow from operating activities: - Select - Changes in current operating assets and liabilities: - Select - - Select - - Select - - Select - - Select - Net cash flow from operating activities $fill in the blank 0b4225fa6006ff6_15 Feedback Area
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Cash Flows from Operating Activities—Indirect Method
The net income reported on the income statement for the current year was $264,500. Depreciation recorded on equipment and a building amounted to $79,100 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:
| End of Year | Beginning of Year | |||
| Cash | $73,000 | $76,650 | ||
| Accounts receivable (net) | 92,560 | 94,590 | ||
| Inventories | 182,500 | 162,960 | ||
| Prepaid expenses | 10,150 | 10,810 | ||
| Accounts payable (merchandise creditors) | 81,540 | 85,540 | ||
| Salaries payable | 11,750 | 10,650 |
Question Content Area
a. Prepare the "Cash Flows from Operating Activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
| Cash flows from operating activities: | ||
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$- Select - | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
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- Select - | |
| Changes in current operating assets and liabilities: | ||
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- Select - | |
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- Select - | |
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- Select - | |
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- Select - | |
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- Select - | |
| Net cash flow from operating activities | $fill in the blank 0b4225fa6006ff6_15 |
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