Swifty Corporation reported net income of $203000 for the year. During the year, accounts receivable increased...

Swifty Corporation reported net income of $203000 for the year. During the year, accounts receivable increased by $15000, accounts payable decreased by $6000 and depreciation expense of $32000 was recorded. Net cash provided by operating activities for the year is

$214000.

$192000.

$179000.

$203000.

Expert Solution

$214000 is correct answer.

Cash Flow Statement
Cash flow from Operating Activities:
Net Income	203000
Adjustements to Net Income:
Depreciation	32000
Changes in current operating assets and liabilities:
Increase in Account Receivable	-15000
Decrease in Accounts payables	-6000
Net Cash Flow from Operating Activities	214000

ekkarill92 answered 2 years ago

Flounder Company reported 2017 net income of $156,700. During 2017, accounts receivable increased by $13,900 and...

Flounder Company reported 2017 net income of $156,700. During 2017, accounts receivable increased by $13,900 and accounts payable increased by $9,673. Depreciation expense was $39,900. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Pronghorn Company reported 2020 net income of $152,900. During 2020, accounts receivable increased by $13,760 and...

Pronghorn Company reported 2020 net income of $152,900. During 2020, accounts receivable increased by $13,760 and accounts payable increased by $9,604. Depreciation expense was $44,000. Prepare the cash flows from operating activities section of the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) PRONGHORN COMPANY Cash Flow Statement choose the accounting period ...

On this year's income statement Norton Company reported net income of $10,000. During the year, accounts...

On this year's income statement Norton Company reported net income of $10,000. During the year, accounts receivable changed by $404, inventory changed by $2,989, accounts payable changed by $-1,422, and depreciation of $16,888 was recorded. Using only this information, what was the amount of net cash flow from operating activities reported using the indirect method?

Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, 2014. During the year,...

Pierce Corporation reported a $3,600 balance in accounts receivable on January 1, 2014. During the year, $24,800 of sales on account were made. During the year, Price wrote off accounts receivable of $1,700 as uncollectible. If the ending balance of accounts receivable is $2,000, what is the amount of cash received from customers?

A company had net income of $210000. Depreciation expense is $27000. During the year, Accounts Receivable...

A company had net income of $210000. Depreciation expense is $27000. During the year, Accounts Receivable and Inventory increased $17000 and $42000, respectively. Prepaid Expenses and Accounts Payable decreased $5000 and $6000, respectively. There was also a loss on the sale of equipment of $2000. How much cash was provided by operating activities? $179000 $241000 $271000 $175000

A company had net income of $226,932. Depreciation expense was $25,699. During the year, accounts receivable...

A company had net income of $226,932. Depreciation expense was $25,699. During the year, accounts receivable and inventory increased by $15,649 and $27,550, respectively. Prepaid expenses and accounts payable decreased by $3,313 and $6,060, respectively. There was also a loss on the sale of equipment of $6,825. How much was the net cash flow from operating activities on the statement of cash flows using the indirect method?

QUESTION 1. A company's accounts receivable increased during the year by $6 million. What is the...

QUESTION 1. A company's accounts receivable increased during the year by $6 million. What is the amount of cash the company received from customers during the reporting period if its sales were $50 million? QUESTION 2. A company's inventory increased during the year by $7 million. Its accounts payable increased by 9 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold was $35...

Question 1 If accounts receivable increased from $12,000 to $15,000 during the year and if sales...

Question 1 If accounts receivable increased from $12,000 to $15,000 during the year and if sales amounted to $100,000 for the year, cash receipts from customers amounted to $103,000. A. True B. False Question 2 When net income is used as a starting point in measuring cash flows from operating activities, there is no need to add depreciation expense to net income. A. True B. False Question 3 What is the acid-test ratio for the following data? Cash - $34,000;...

At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $195,100...

At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $195,100 and in Allowance for Doubtful Accounts of $9,350 (credit). During the period, it had net credit sales of $745,500 and collections of $835,120. It wrote off as uncollectible accounts receivable of $7,831. However, a $3,184 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,100 at the end of the period. (Omit...

During the year, The Train Stop decreased its accounts receivable by $60, increased its inventory by...

During the year, The Train Stop decreased its accounts receivable by $60, increased its inventory by $130, and decreased its accounts payable by $20. Q1: What is the net result of Train Stop’s cash balance from these transactions? Explain by showing the method Q2: What is the effect of the changes affect Train’s Stop’s liquidity? Explain

Question