Concept explainers
Statement of
• LO4–8
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2018 fiscal year was $624,000. Depreciation and amortization expense of $87,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
Decrease in |
$22,000 |
Increase in inventories | 9,200 |
Increase prepaid expenses | 8,500 |
Increase in salaries payable | 10,000 |
Decrease in income taxes payable | 14,000 |
Required:
Prepare the operating activities section of the 2018 statement of cash flows.
Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,250,000. Depreciation expense of $140,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
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Intermediate Accounting
- 11 Compute Cash Flow from Operating Activities from the following details: Particulars Trade Receivables: Debtors CA Bills Receivable CA Trade Payables: Creditors CL Bills Payable CL L Expenses Outstanding Accrued Income CAT Depreciation on Fixed Assets No + Surplus, i.e., Balance in Statement of Profit & Loss 31st March, 2023 (R) 50,000 23,000 28,000 22,000 4,500 9,000 5,000 90,000 31st March 2022 ) 60,000 25,000 32,000 35,000 3,500 8,000 4,000 80,000arrow_forwardCalculator The following information is available from the current period financial statements: $103,184 Net income Depreciation expense 29,117 Increase in accounts receivable 16,270 Decrease in accounts payable 15,506 Determine the net cash flow from operating activities using the indirect method. Select the correct answer. $100,525 $164,077 $42,291 $103,184 4:10 PMarrow_forwardRefer to page 580, Exercise 11-10, Prepare the statement of cash flow using the indirect method. Edit View Insert Format Tools Table 12pt v Paragraph v BIU A 画 O words MacBook Pro Q Search or enter website name #3 $ & 3 4 7 8. E R Y U F G H J K < (Oarrow_forward
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