Compute the net cash provided or used by operating activitie

Assignment Help Financial Accounting

Reference no: EM13126967

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.

Reference no: EM13126967

Questions Cloud

Statement regarding coso framework : Which of the following statements about internal control is incorrect, based on the COSO framework?

List price and discount : A car dealer, at a year-end clearance sale, reduces the list price of last year's models by 15%. If a certain model has a discounted price of $8000, what was the list price? How much can be saved by purchasing last year's model?

Create an analysis that shows whether or not : Per unit selling price for Product B is $75 and for Product C is $50. Create an analysis that shows whether or not the 20,000 units of Product A should be processed further.

Compute the amount of unrealized intra-entity inventory : How well reported net income of $100,000 in 2010 and $120,000 in 2011 while paying $40,000 in dividends each year. Compute the amount of unrealized intra-entity inventory profit to be deferred on December 31, 2010 and 2011?

Compute the net cash provided or used by operating activitie : merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Compute the net cash provided or used by operating activities.

Determine the standard cost variances : For the last 1,000 bag batch determine the standard cost variances for the direct materials, direct labor, and variable overhead.

Illustrate what is the character of any gain or income : How much gain or income will Bob recognize on his contribution of the land to the partnership? Illustrate what is the character of any gain or income recognized?

How many iodide ions does it contain : An ionic compound forms when aluminum (Z = 13) reacts with iodine (Z = 53). If a sample of the compound contains 1.23 x 1019 aluminum ions.

Demonstrate the impact of ikeas entry : IKEA is a Swedish home furnishings retailer. An official Indian agency supports IKEA opening 25 stores in India. Demonstrate the impact of IKEA's entry into the Indian home furnishings market.

User Account

All Pages