Northeast Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the
amount of cash flows from operating activities using the Indirect method:
Net income
Gain on the sale of equipment
Proceeds from the sale of equipment
Depreciation expense-equipment
Payment of bonds at maturity
Purchase of land
Issuance of common stock
Increase in merchandise inventory
Decrease in accounts receivable
Increase in accounts payable
Payment of cash dividends
$182,000
12,300
92,300
50,000
100,000
200,000
300,000
35,400
28,800
23,700
32,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Northeast Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, ...” 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
For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $3,250,000.
Answers (1)
Which activity is not allowed in a 3 compartment sink
Answers (2)
Wallace, who is single, had the following items for the current year: • Salary of $90,000. • Gain of $30,000 on the sale of § 1244 stock acquired two years earlier. • Loss of $75,000 on the sale of § 1244 stock acquired three years earlier.
Answers (1)
What do fear-based marketing messages and advertisements focus on? A. Negative changes in the market that have reduced demand for the product B. Threats to the company's business C.
Answers (1)
When a company does not have any convertible securities or options or warrants outstanding, the company has: A. to report both basic and diluted EPS. B. to report only diluted earnings per share. C. a simple capital structure. D.
Answers (1)
New Questions in Business
How is solving the problem of organizing protistan diversity a model for understanding the process of science?
Answers (1)
Shelly is looking at the life insurance policies listed in the table below. Which insurance company provides the most coverage per dollar of premium?
Answers (1)
For a manufacturing firm, cost of goods available for sale is computed by adding the beginning finished goods inventory to
Answers (1)
Judy is a cash basis attorney. This year, she performed services in connection with the formation of a corporation and received stock with a value of $4,000 for her services. By the end of the year, the value of the stock had decreased to $2,000.
Answers (1)
Compute the average days in inventory ratio using the following information: Net sales is $200,000 for the year, cost of goods sold are $80,000, last year's total assets were $900,000, and this year's total assets are $1,100,000.
Answers (1)