Question

The following information is available for Jack's jewelery and gift store: Net income: $5,000 Depreciation expense:...

The following information is available for Jack's jewelery and gift store:

Net income: $5,000

Depreciation expense: $2,500

increase in deferred tax liabilities: 500

decrease in accounts receivables: 2,000

increase in inventories: 9,000

decrease in accounts payable: 5,000

increase in accrued liabilities: 1,000

Increase in property/equipment: 14,000

increase in short-term notes payable: 19,000

decrease in long-term bonds payable: 3,000

stock repurchase: 1000

-

What is the net cash flow from operating activities?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The answer has been presenetd in the supporting sheet. For detailed answer refer to the supporting sheet.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
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.
Calculate cash flow from operating activities using the following information. Net income                           &nbs
Calculate cash flow from operating activities using the following information. Net income                                   60,000           Purchase of new machine          35,000 Depreciation expense                  10,000            Increase in Accts. Receivable     15,000 Loss on sale of machine                  9,000    Decrease in Prepaid Expenses    7,000 Increase in Accts. Payable         14,000 Decrease in Accrued Liabilities 4,000
The net income for the current year was $30,000. The following items occurred throughout the year....
The net income for the current year was $30,000. The following items occurred throughout the year. Using the indirect method, determine the net cash provided/(used) by operating activities. Decrease in Cash of 3,500 Increase in short-term investments of $4,500 Decrease in inventory of $6,000 Decrease in prepaid expenses of $1,000 Increase in accounts receivable of $5,500 Loss on disposal of plant asset $3,000 Increase in salary payable of $2,000 Decrease in accounts payable of $7,000 Increase in dividends payable of...
MERNA Company reported net income of $30,000; depreciation expenses of $19,000; an increase in Accounts Payable...
MERNA Company reported net income of $30,000; depreciation expenses of $19,000; an increase in Accounts Payable of $2,000; and an increase in current notes receivable of $3,000. Net Cash Flows from operating activities under the indirect method is: Select one: a. $49,000. b. $50,000. c. $44,000. d. $48,000. Please Solve As soon as Solve quickly I get you two UPVOTE directly Thank's Abdul-Rahim Taysir
    income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000...
    income statement Sales 205,000 cost of goods sold -97,000 salaries expense -24,000 depreciation expense -16,000 interest expense -2,400 loss on equipment disposal -2,500 net income 63,100 Statement of Retained Earnings Beginning Balance - Retained Earnings                   6,000 Plus - Net Income                 63,100 Less - Dividends (41,500) Ending Balance - Retained Earnings 27,600 Balance sheets 2018 2019 change Assets: Cash 13,000 64,600 51,600 Accounts Receivable 25,000 19,000 (6,000) Inventory 19,000 13,000 (6,000) prepaid expenses 0 0 0 Equipment 60,000 41,000 (19,000)...
The following information were extracted from its financial statements of Avatar Corporation: Net Loss ($15,800) Depreciation...
The following information were extracted from its financial statements of Avatar Corporation: Net Loss ($15,800) Depreciation $25,300 Issuance of bonds payable $31,400 Payment of dividend $5,300 Purchase of equipment $1,200,000 Sale of equipment $320,000 Increase in inventory $12,000 Issuance of common stock $28,000 Loss on sale of equipment $42,000 Purchase of treasury stock $38,000 Increase in accounts payable $14,000 Increase in accounts receivable $9,000 Decrease in accrued liability $1,000 Required: Prepare a statement showing the computation of the company’s net...
Statement of Cash Flows Year ended: 2019 Operating activities Net Income $312 Adjustments      Depreciation expense 125...
Statement of Cash Flows Year ended: 2019 Operating activities Net Income $312 Adjustments      Depreciation expense 125 Changes in working capital      Accounts receivable (60)      Inventories (100)      Accounts payable 43      Accrued taxes and expenses 25      Cash provided by operating activities $345 Investing activities Purchases of fixed assets (250)      Cash provided by investing activities ($250) Financing activities Notes payable 25 Long-term financing issuances 125 Common stock dividends (140)      Cash provided by financing activities $10 Cash and equivalents increase (decrease) 105 Cash and equivalents...
The income statement disclosed the following items for the year: Depreciation expense $ 65,000 Gain on...
The income statement disclosed the following items for the year: Depreciation expense $ 65,000 Gain on disposal of equipment 27,500 Net income 620,000 The changes in the current assets and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $11,200 Inventory (6,350) Prepaid insurance (1,200) Accounts payable (4,200) Income taxes payable 1,650 Dividends payable 2,500 Required: A. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to...
Indicate whether each of the following items would result in net cash flow from operating activities...
Indicate whether each of the following items would result in net cash flow from operating activities being higher (H) or lower (L) than net income. a. Increase in accounts payable b. Amortization expense c. Decrease in accrued liabilities d. Loss on sale of assets e. Decrease in accounts receivable f. Decrease in deferred tax assets g. Increase in deferred revenue h. Decrease in income taxes payable i. Decrease in prepaid expenses
The accounting records of EZ Company provided the data below. Net income $ 55,700 Depreciation expense...
The accounting records of EZ Company provided the data below. Net income $ 55,700 Depreciation expense 9,700 Increase in inventory 2,850 Decrease in salaries payable 1,910 Decrease in accounts receivable 3,800 Amortization of patent 710 Amortization of premium on bonds 3,370 Increase in accounts payable 6,700 Cash dividends 15,000 Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities: Adjustments for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT