Zinc Company's net income last year was $60,000, and cash dividends declared and paid to the stockholders were $20,000. Changes in selected balance sheet accounts for the year appear below:
Increases
(Decreases)
Debit balances:
Accounts receivable $ (5,000)
Inventory (4,000)
Prepaid expenses 8,000
Credit balances:
Accumulated depreciation 15,000
Accounts payable (6,000)
Accrued liabilities 14,000
Taxes payable 8,000
Bonds payable 50,000
Based solely on this information, net cash flow from operating activities under the indirect method on the statement of cash flows would be:
a. $54,000.
b. $21,000.
c. $92,000.
d. $87,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Zinc Company's net income last year was $60,000, and cash dividends declared and paid to the stockholders were $20,000. Changes in selected ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Crane Company purchased $1080000 of 8%, 5-year bonds from Swifty, Inc. on January 1, 2021, with interest payable on July 1 and January 1. The bonds sold for $1129896 at an effective interest rate of 7%.
Answers (1)
Teena, Isaiahand Bart form a general partnership to sell automobiles Teenawho is responsible for ordering inventory large sport utility vehicles (SUV) great quantities of gasoline.
Answers (1)
According to a 2000 public opinion poll, 69 percent of americans who responded were most proud of the nation's
Answers (1)
Suppose that a dealership added domestically-produced cars to its inventory in June 2014 because it expected an increase in demand for them.
Answers (2)
Lindsay is training two new sales representatives, Lance and Ayden, to use the revised client-tracking database, which has been updated and improved. Lindsay is sharing her desktop to walk them through the steps of inputting new client information.
Answers (1)
New Questions in Business
How does the government of a republic typically shape its economy? A. The government allows citizens to own private businesses. B. The government blocks the ownership of personal property. C. The government owns all homes and other forms of housing.
Answers (1)
For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies: Only cover the first $50.
Answers (1)
In the resource-based view of the firm, examples of tangible resources include: Select one: a. outstanding customer service, innovativeness of products, and reputation b.
Answers (1)
Off-Line Co. has 9,000 units in beginning finished goods. The sales budget shows expected sales to be 36,000 units. If the production budget shows that 42,000 units are required for production, what was the desired ending finished goods?
Answers (1)
g resh bought 1,000 shares of Ibis Corporation stock for $5,600 on January 15, 2017. On December 31, 2019, she sold all 1,000 shares of her Ibis stock for $4,800.
Answers (1)