The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were$34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:CashAccounts receivableInventoriesEnda. $370,545b. $208,919c. $347,601Od. $278,217$47,146124,126102,6014,50645,924Beginning$57,260104,23693,9327,91466,937Prepaid expensesAccounts payable (merchandise creditors)What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Increase in Accounts receivable = 124,126 - 104,236 = 19,890 Increase in Inventories = 102,601 -…

The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were $34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Beginning $57,260 Accounts receivable 104,236 Inventories 93,932 Prepaid expenses 7,914 Accounts payable (merchandise creditors) 66,937 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Cash Oa. $370,545 Ob. $208,919 OC. $347,601 Od. $278,217 End $47,146 124,126 102,601 4,506 45,924

The net income reported on the income statement for the current year was $278,260. Depreciation recorded on fixed assets and amortization of patents for the year were $34,649, and $11,472, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Beginning $57,260 Accounts receivable 104,236 Inventories 93,932 Prepaid expenses 7,914 Accounts payable (merchandise creditors) 66,937 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Cash Oa. $370,545 Ob. $208,919 OC. $347,601 Od. $278,217 End $47,146 124,126 102,601 4,506 45,924

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 25E

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Oz Corporation has the following assets at year-end: Patents (net), 26,000; Land, 50,000; Buildings, 175,000; Accumulated Depreciation: Buildings, 57,500; Investment in Held-to-Maturity Bonds, 12,000; Equipment, 95,000; and Accumulated Depreciation: Equipment, 25,000. Prepare the property, plant, and equipment section of Ozs year-end balance sheet.
Statement of Cash Flows A list of Fischer Companys cash flow activities is presented here: a. Patent amortization expense, 3,500 b. Machinery was purchased for 39,500 c. At year-end, bonds payable with a face value of 20,000 were issued for 17,000 d. Net income, 47,200 k. Inventories increased by 15,400 e. Dividends paid, 16,000 f. Depreciation expense, 12,900 g. Preferred stock was issued for 13,600 h. Investments were acquired for 21,000 i. Accounts receivable increased by 4,300 j. Land was sold at cost, 11,000 k. Inventories increased by 15,400 l. Accounts payable increased by 2,700 m. Beginning cash balance, 19,400 Required: Prepare Fischers statement of cash flows.
The net income reported on the income statement for the current year was $262,454. Depreciation recorded on fixed assets and amortization of patents for the year were $44,908 and $11,220, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $40,154 $64,701 Accounts Receivable 125,905 107,000 Inventories 105,092 93,416 Prepaid Expenses 3,045 7,177 Accounts Payable (merchandise creditors) 53,067 66,334 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
The net income reported on the income statement for the current year was $295,300. Depreciation recorded on fixed assets and amortization of patents for the year were $40,200 and $5,300, respectively. Balances of current asset and current liability accounts at the end and beginning of the year are as follows: End Beginning Cash $50,300 $60,300 Accounts receivable 112,100 108,100 Inventories 105,300 93,300 Prepaid expenses 4,600 6,800 Accounts payable (merchandise creditors) 75,100 89,300 What amount of cash flows from (used for) operating activities is reported on the statement of cash flows prepared by the indirect method? a.$302,800 b.$207,400 c.$312,800 d.$369,000
The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000, and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $ 50,000 $ 60,000 Accounts Receivable 112,000 108,000 Inventories 105,000 93,000 Prepaid Expenses 4,500 6,500 Accounts Payable (merchandise creditors) 75,000 89,000 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a.$279,000 b.$327,000 c.$271,000 d.$256,000
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The income statement disclosed the following items for the year: Depreciation expense $57,400 Gain on disposal of equipment 33,510 Net income 494,300 The changes in the current asset and liability accounts for the year are as follows: Increase(Decrease) Accounts receivable $8,950 Inventory (5,090) Prepaid insurance (1,910) Accounts payable (6,070) Income taxes payable 1,910 Dividends payable 1,340 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.
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The net income reported on the income statement for the current year was $262,100. Depreciation recorded on equipment and a building amounted to $78,400 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 $71,030 $75,290 Accounts receivable (net) 90,070 92,910 Inventories 177,580 160,070 Prepaid expenses 9,870 10,620 Accounts payable (merchandise creditors) 79,340 84,020 Salaries payable 11,440 10,470 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.