Question

In: Accounting

A company's income statement showed the following: net income, $127,000 and depreciation expense, $30,900. An examination...

A company's income statement showed the following: net income, $127,000 and depreciation expense, $30,900. An examination of the company's current assets and current liabilities showed the following changes: accounts receivable decreased $9700; merchandise inventory increased $18,600; and accounts payable increased $3700. Calculate the net cash provided or used by operating activities.

Solutions

Expert Solution

for formulas and calculations, refer to the image below -

In case you have any query, kindly ask in comments.


Related Solutions

A company's income statement showed the following: net income, $127,000; depreciation expense, $36,500; and gain on...
A company's income statement showed the following: net income, $127,000; depreciation expense, $36,500; and gain on sale of plant assets, $10,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,700; merchandise inventory increased $24,500; prepaid expenses increased $7,500; accounts payable increased $4,700. Calculate the net cash provided or used by operating activities. Multiple Choice $177,400. $156,200. $149,400. $151,400.
A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on...
A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities. Select one: a. $155,000. b. $145,800. c. $141,000. d. $139,000. Please Solve As...
A company's income statement showed the following: net income, $135,400; depreciation expense, $32,700, and gain on...
A company's income statement showed the following: net income, $135,400; depreciation expense, $32,700, and gain on sale of plant assets, $15,350. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,300; merchandise inventory increased $19,800; prepaid expenses decreased $7,100; accounts payable increased $4,000. Calculate the net cash provided or used by operating activities.
A company's income statement showed the following: net income, $126,000; depreciation expense, $36,000; and gain on...
A company's income statement showed the following: net income, $126,000; depreciation expense, $36,000; and gain on sale of plant assets, $10,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $10,600; merchandise inventory increased $24,000; prepaid expenses increased $7,400; accounts payable increased $4,600. Calculate the net cash provided or used by operating activities. Multiple Choice $176,600. $155,400. $148,600. $150,600. $135,800. In preparing a company's statement of cash flows using the indirect method,...
A company's income statement showed the following: net income, $134,000; depreciation expense, $40,000; and gain on...
A company's income statement showed the following: net income, $134,000; depreciation expense, $40,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,400; merchandise inventory increased $28,000; prepaid expenses increased $8,200; accounts payable increased $5,400. Calculate the net cash provided or used by operating activities. Multiple Choice $140,600. $183,000. $157,000. $155,000. $161,800.
INCOME STATEMENT NET INCOME $       7,945 DEPRECIATION EXPENSE $       2,325 LOSS ON SALE OF PLANT ASSETS...
INCOME STATEMENT NET INCOME $       7,945 DEPRECIATION EXPENSE $       2,325 LOSS ON SALE OF PLANT ASSETS $         375 ADDITIONAL INFO NEW PLANT ASSETS PURCHASED $       4,250 OLD PLANT ASSETS SOLD FOR CASH $           75 ORIGINAL COST $       2,875 BONDS MATURED AND PAID OFF IN CASH CASH DIVIDEND PAID $2,018 INSTRUCTIONS PREPARE THE WORKSHEET FOR THE STATEMENT OF CASH FLOW. PREPARE THE ACTUAL STATEMENT OF CASH FLOWS. NOTE: If it is easier for you to just do the actual statement of...
Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for...
Becker Inc. reported net income of $560,000 on its income statement for 2020. Depreciation expense for the year was $63,000. Over the course of the year, Becker also experienced the following changes in account balances: Accounts payable:  $12,000 increase Inventory:  $18,000 increase Accounts receivable:  $9,000 decrease Accrued liabilities:  $19,000 decrease Prepaid insurance:  $7,000 decrease Determine net cash provided by operating activities for 2020.
1. An inexperienced accountant for Martinez Corp. showed the following in the income statement: net income...
1. An inexperienced accountant for Martinez Corp. showed the following in the income statement: net income $215,970 and unrealized gain on available-for-sale securities (before taxes) $93,000. The unrealized gain on available-for-sale securities subject to a 31% tax rate. Prepare a correct statement of comprehensive income. MARTINEZ CORP. Partial Statement of Comprehensive Income select a comprehensive income item                                                          DividendsExpensesNet Income / (Loss)Retained EarningsRevenueTotal...
Question: Based on the following transactions, complete this income statement: Sales: Operating Expense: Depreciation Expense: EBIT:...
Question: Based on the following transactions, complete this income statement: Sales: Operating Expense: Depreciation Expense: EBIT: Intresrest Expense: Pre-tax Income: Taxes: Net Income: Dividened: Paid to Retained Earning: 1. Earn $85,000 in sales revenue: $40,000 into Accounts Receivable and $45,000 in cash. 2. The sales require $50,000 worth of existing inventory. $20,000 of additional inventory is purchased on credit and applied to the Accounts Payable. 3. $30,000 is collected from Accounts Recievable. 4. $35,000 of the Accounts Payable is due...
johnson's nursery has net income of 42,500, depreciation expense of 2500, interest expense of 1000 ,...
johnson's nursery has net income of 42,500, depreciation expense of 2500, interest expense of 1000 , taxes of 1600, additions to net working capital of 2600, cash dividends of 4200 and capital Expedientes 11,400 what is the amount of free cash flow?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT