Question

Pharoah Company reported net income of $182,050. It reported depreciation expense of $16,690 and accumulated depreciation...

Pharoah Company reported net income of $182,050. It reported depreciation expense of $16,690 and accumulated depreciation of $47,580. Amortization expense was $8,810. Pharoah Company purchased new equipment during the year for $52,800.

Determine net cash provided by operating activities under the indirect method.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Ans is $207,550

Working:-

Hi mate,
I would be grateful to you if you can provide a thumbs up and write one beautiful comment. It will improve my rating and let me continue my journey here.
In case of doubt, please comment. I will consider myself fortunate if I can help you.
All the best for your bright future.
Be safe from the corona. Wear a mask before going out and wash hands frequently especially before touching the face
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
Cullumber Company reported net income of $162,030. It reported depreciation expense of $12,520 and accumulated depreciation...
Cullumber Company reported net income of $162,030. It reported depreciation expense of $12,520 and accumulated depreciation of $48,710. Amortization expense was $6,640. Cullumber Company purchased new equipment during the year for $50,660. Determine net cash provided by operating activities under the direct method.
Please answer These questions 18) Blue Sky Company reported net income of $520,000 for the year...
Please answer These questions 18) Blue Sky Company reported net income of $520,000 for the year ended 12/31/21. Included in the computation of net income were: amortization of a patent, $40,000; income from an investment in common stock of Grape Inc., accounted for under the equity method, $62,000; and amortization of a bond discount, $17,000. Blue Sky also paid a $50,000 dividend during the year. The net cash provided (used) by operating activities would be reported at ______ 19) XYZ,...
Yellow Company reported net income of $520,000 for the year ended 12/31/21. Included in the computation...
Yellow Company reported net income of $520,000 for the year ended 12/31/21. Included in the computation of net income were: depreciation expense, $85,000; amortization of a patent, $40,000; income from an investment in common stock of XYZ Inc., accounted for under the equity method, $62,000; and amortization of a bond discount, $17,000. Yellow also paid an $60,000 dividend during the year. The net cash provided (used) by operating activities would be reported at ______
A) Net income is $50,000. During the year, the company had $20,000 depreciation expense and a...
A) Net income is $50,000. During the year, the company had $20,000 depreciation expense and a gain on sale of assets of $15,027. In addition, accounts receivable increased $7000, supplies decreased $9000 and accounts payable increased $5,000. What is the net cash provided by operations under the indirect method? B) Net income is $50,000. During the year, accounts payable increased $7,000, inventory decreased $5000, and accounts receivable increased $27,000. What is the net cash provided by operations under the indirect...
Adjustments to Net Income—Indirect Method Congress Corporation's accumulated depreciation—equipment account increased by $7,300, while $4,800 of...
Adjustments to Net Income—Indirect Method Congress Corporation's accumulated depreciation—equipment account increased by $7,300, while $4,800 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $5,600 from the sale of land. Reconcile a net income of $83,500 to net cash flow from operating activities.
Staley Inc. reported the following data: Net income $488,200 Depreciation expense 54,800 Loss on disposal of...
Staley Inc. reported the following data: Net income $488,200 Depreciation expense 54,800 Loss on disposal of equipment 30,900 Increase in accounts receivable 10,800 Increase in accounts payable 11,900 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 out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc. Statement of Cash Flows (partial) Cash flows from operating activities: $ Adjustments to reconcile...
Adjustments to Net Income—Indirect Method Omni Corporation's accumulated depreciation—equipment account increased by $10,000, while $6,500 of...
Adjustments to Net Income—Indirect Method Omni Corporation's accumulated depreciation—equipment account increased by $10,000, while $6,500 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $7,600 from the sale of investments. Reconcile a net income of $114,000 to net cash flow from operating activities. Changes in Current Operating Assets and Liabilities—Indirect Method Victor Corporation's comparative balance sheet for...
S Company reported net income for 2018 in the amount of $470,000. The company's financial statements...
S Company reported net income for 2018 in the amount of $470,000. The company's financial statements also included the following: Increase in accounts receivable $ 77,000 Decrease in inventory 64,000 Increase in accounts payable 230,000 Depreciation expense 104,000 Gain on sale of land 149,000    What is net cash provided by operating activities under the indirect method?
Kennedy, Inc. reported the following data: Net income $133,858 Depreciation expense 12,905 Loss on disposal of...
Kennedy, Inc. reported the following data: Net income $133,858 Depreciation expense 12,905 Loss on disposal of equipment 11,445 Gain on sale of building 20,704 Increase in accounts receivable 7,893 Decrease in accounts payable 2,850 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, a decrease in cash, cash payments, or any negative adjustments. Kennedy, Inc. Statement of Cash Flow Cash flows from operating...
The net income reported on the income statement for the current year was $73,600. Depreciation recorded...
The net income reported on the income statement for the current year was $73,600. Depreciation recorded on store equipment for the year amounted to $27,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $23,500 $18,700 Accounts receivable (net) 56,000 48,000 Merchandise inventory 35,500 40,000 Prepaid expenses 4,750 7,000 Accounts payable (merchandise creditors) 21,800 16,800 Wages payable 4,900 5,800 Required: A. Prepare...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT