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What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a $233,000 b.S289.000 e 387,000 d $331,000

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a $233,000 b.S289.000 e 387,000 d $331,000

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 13.2BE: Adjustments to net incomeindirect method Ripley Corporations accumulated depreciationequipment...
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Unit 2 1 The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were assets duce sassets incre S40,000 and S9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning $50,000 $60,000 112,000 108,000 105,000 93,000. 6,500+ 89,000- Cash Accounts recervable Inventories Prepaid expenses Accounts payable (merchandise creditors) 4,500 75,000 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a $233,000 b. $289.000 e S387,000 d. $331,000 2 Accounts receivable arising from trade transactions amounted to $62,000 and $78.000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $125,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method are: a S109,000 b S141,000 c. S125,000 d. S140,000 3 From the following data for David ProElecticals, calculate the quick ratio. Cash Accounts receivable Inventories Prepaid expenses Total current assets Less current liabilities 275.000 Working capital $ 68,500 130,000 213,000 25.000 $436,500 S161,500 a16 b07 c.03 d. 15
Transcribed Image Text:Unit 2 1 The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were assets duce sassets incre S40,000 and S9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning $50,000 $60,000 112,000 108,000 105,000 93,000. 6,500+ 89,000- Cash Accounts recervable Inventories Prepaid expenses Accounts payable (merchandise creditors) 4,500 75,000 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? a $233,000 b. $289.000 e S387,000 d. $331,000 2 Accounts receivable arising from trade transactions amounted to $62,000 and $78.000 at the beginning and end of the year, respectively. Net income reported on the income statement for the year was $125,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method are: a S109,000 b S141,000 c. S125,000 d. S140,000 3 From the following data for David ProElecticals, calculate the quick ratio. Cash Accounts receivable Inventories Prepaid expenses Total current assets Less current liabilities 275.000 Working capital $ 68,500 130,000 213,000 25.000 $436,500 S161,500 a16 b07 c.03 d. 15
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