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 cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization ...” 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
Weaver Chocolate Co. expects to earn $3.50 per share during the current year, its expected dividend payout ratio is 65%, its expected constant dividend growth rate is 6.0%, and its common stock currently sells for $32.50 per share.
Answers (1)
In the country of Doran, all businesses are owned by the state. The government plans production, fixes commodity prices, and also directs investments to ensure they benefit the nation as a whole and not only a few individuals.
Answers (1)
On April 3, a customer returned $ 900 of merchandise that had been purchased with cash to Cooke Supplies. Cooke 's cost of the goods returned was $ 200.
Answers (1)
Inventory turnover ratio shows how many times a firm turns over its inventory in an accounting period. Faster turnovers are generally viewed as negative because it indicates instability in the firm's inventory level. A) TrueB) False
Answers (1)
Perine, Inc., has balance sheet equity of $6.8 million. At the same time, the income statement shows net income of $815,000. The company paid dividends of $285,000 and has 245,000 shares of stock outstanding.
Answers (1)
New Questions in Business
For segmentation strategy to be successful, the customers in the segment must react similarly and positively to firm's offering, corresponding to which of the following criteria for evaluating segment attractiveness?
Answers (1)
Joe and Joanne own JoJo's Jet-Fast Oil-Change and Auto Service. When budgeting for next year's benefit expenses, Joe and Joanne estimate that their unemployment and workers' compensation costs will increase because of a high number of claims during
Answers (1)
A national health care plan would also control the wildly escalating cost of prescription drugs. This would particularly benefit the elderly who mostly live on fixed income.
Answers (1)
What happens when you do not make a decision?
Answers (1)
Ginny is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs.
Answers (2)