USiromel, Financial Accounting, Betole I Sstem AnoencementsBriel Exercise 12-4Your answer is partially correct. Try again.Matervay Industries reported net income of $2 million in 2017. Depreciation for the year was $144,000, accounts receivable decreased $343,400, and accounts payable decreased s304.200.Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis aWaterway IndustriesStatement of Cash Flows-Indirect Approach(*5,000))For the Year Ended December 31, 2017Cash Floves from Operating ActivitiesNet Income2000000Adjustments to reconcile net income toNet Cash Provided by Operating Activities vDecrease in Account Payable343400Increase in Account Payable304200Depreciation Expense144000791600et Cash Provided by Operating Activities V791600Click if you would like to Show Work for this question:Open Show Work Kinenel, Finarscial Accoumting, SeHelp 1 Systeem AnnoncemewtsBrief Exercise 12-4Your answer is partially correct. Try again.iustries reported net income of $2 million in 2017. Depreciation for the year was $144,000, accOunts receivable decreased $343,400, and accounts payalle decreaed tonComoute net ccash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a-sign e.g.-15,0D0 or in pareittesn fsdWaterway IndustriesStatement of Cash Flows-Indirect ApproadchFor the Year Ended December 31, 2017Cash Flows from Operating ActivitiesNet Income2000000Adjustments to reconcile net income toNet Cash Provided by Operating Activities VDecrease in Account Payable343400Increase in Account Payable304200Depreciation Expense144000791600Net Cash Provided by Operating Activities Y791600Click if you would like to Show Work for this question: Open Show Work

Watervay Industries reported net income of $2 milion in 2017. Depreciation for the year was $144,000, accounts receivable decreased $343,400, and accounts payable decreased $30 Cmoute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a- sign e.g. -15,000 or in parenthets g(I5 Waterway Industries Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2017 Cash Floves from Operating Activities Net Income 2000000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities V Decrease in Account Payable 343400 Increase in Acount Payable 304200 Depreciation Expense 144000 791600 tCash Provoded Operabing Activities V 791600

Watervay Industries reported net income of $2 milion in 2017. Depreciation for the year was $144,000, accounts receivable decreased $343,400, and accounts payable decreased $30 Cmoute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a- sign e.g. -15,000 or in parenthets g(I5 Waterway Industries Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2017 Cash Floves from Operating Activities Net Income 2000000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities V Decrease in Account Payable 343400 Increase in Acount Payable 304200 Depreciation Expense 144000 791600 tCash Provoded Operabing Activities V 791600

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 56PSA: Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial...

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Preparing a Statement of Cash Flows Monon Cable Television Company reported the following financial statements for 20l9: Required: 1. Prepare a statement of cash flows using the indirect method to compute net cash flow from operating activities. 2. CONCEPTUAL CONNECTION Explain what has been responsible for the decrease in cash.
my w E12-7 Preparlng and Evaluating a Slimple Statement of Cash Flows (Indirect Method) [LO 12-1, LO 12-2, LO 12-5] Suppose the income statement for Goggle Company reports $131 of net income, after deducting depreciation of $26. The company bought equipment costing $105 and obtained a long-term bank loan for $106. The company's comparative balance sheet, at December 31, is presented here. Requlred: 1. Calculate the change in each balance sheet account and indicate whether each account relates to operating, investing, and. financing activities (+ for increase and - for decrease). 2. Prepare a statement of cash flows using the indirect method. 6. Are the cash flows typical of a start-up, healthy, or troubled company? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 6 Prepare a statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) GOGGLE COMPANY Statement of Cash Flows For the…
MC Qu. 12-85 Harlow Industries reported net income of... Harlow Industries reported net Income of $29,500 for the current year. During the year, Inventory decreased by $8,800, Accounts Payable decreased by $8,900, Depreclation Expense was $11,800, and Accounts Recelvable Increased by $8,30o. If the Indirect method is used, what is the net cash provided by operating activitles? Multiple Choice $12,300 $67,300 $32,900 $50.700
Kennedy, Inc., reported the following data: $134,297 Net income Depreciation expense 14,195 Loss on disposal of equipment (10,514) Gain on sale of building 20,604 Increase in accounts receivable 7,029 (860') Prepare the operating activities section of the statement of cash flows using the indirect method. Use the minus sign to indicate cash outflows, a Decrease in accounts payable decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flows Cash flows from (used for) operating activities: Adjustments to reconcile net income to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Previous earch 3:28 PM 53°F Sunny (p岁 12/14/2021 a. prt sc delete pause shift home
Staley Inc. reported the following data: Net income $338,400 Depreciation expense 66,700 Loss on disposal of equipment 31,900 Increase in accounts receivable 25,200 Increase in accounts payable 10,100 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. what is the answer to this?
S Niel, Financial Accounting, Se Hele 1 Beteen An ts Brief Exercise 12-6 Your answer is partially correct. Try again. alie balance sheets for Sheridan Company show these changes in noncash current asset accounts: accounts receivable decreased $75,100, prepaid expenses increased $28,300, and imverdories inca de t cash provided by operating activities using the indirect method, assuming that net income is $169,100. (Show amounts that decrease cash flow with either a-sign eg 15,000 or in n f Sheridan Company Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income 169100 Adjustments to reconcile net income to Net Decrease in Cash Decrease in Accounts Receivable V 75100 Increase in Prepaid Expenses 28300 ncrease in Inventories 41400 24300 et Cash used by Financing Activities 144800 Click if you would like to Show Work for this question: Qpen Show Work
Demers Inc. reported the following data: Net income $409,500 Depreciation expense 46,460 Gain on disposal of equipment 37,860 Decrease in accounts receivable 25,340 Decrease in accounts payable 5,930 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.
Problem 11-8A (Algo) Prepare an income statement using operating cash flow information-indirect and direct methods (LO11-3, 11-7) Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s). Cash Flows from Operating Activities (Indirect method) Net income Adjustments to reconcile net income to net cash flows from operating activities: Depreciation expense Increase in accounts receivable Decrease in inventory Increase in prepaid rent Decrease in accounts payable Decrease in income tax payable Net cash flows from operating activities Cash Flows from Operating Activities (Direct method) Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities REVERSE LOGIC Income Statement For the Year Ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense…
The first repsonse I received was incomplete, can you please recalcualte? Blossom Company reported net income of $1.75 million in 2022. Depreciation for the year was $280,000, accounts receivable decreased $612,500, and accounts payable decreased $490,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
What should be the impact(add or subtract) on statement of cash flow. Increase in Cash 40,308 -cash was 378,511 beg and 418,819 endg Decrease in Account receivable 15,351 Increase in Inventories. 15,117 Increase in prepayments. 16,776 Increase in PP&E. 1,134,644 - no sale of PPE during the year Increase in accumulated depreciation-no sale of PPE during the year Increase in Other Non-operating Assets. 8711 Decrease in account payable 660 Increase in other current liabilities. 114,596 Increase in long term debt 244,285 Increase in other -operating liabilities 140,026 Increase in common stock 96,991 Increase in retained earnings 340,879 Net Income was $474,378
Yeoman Inc. reported thne following data: Net income $307,200 Depreciation expense 65,100 Loss on disposal of equipment 33,400 Increase in accounts receivable 15,000 Increase in accounts payable 10,700 Prepare the Cash Flows from (used for) Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Yeoman Inc. Statement of Cash Flows (partial) Cash flows from (used for) operating activities: Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation expense Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable v Increase in accounts payable Net cash flows from operating activities Check My Work Previous
EB8. LO 16.3 Use the following information from Kentucky Company's financial statements to determine operating net cash flows (indirect method). $176,000 18,750 15,000 12,000 5,500 Net income Depreciation expense Gain on sale of plant assets Increase in accounts receivable Decrease in accounts payable