Operating activities under indirect method

Assignment Help Accounting Basics

Reference no: EM13129844

Metro, Inc. reported net income of $150,000 for the current year. Changes occurred in several balance sheet accounts during the current year as follows:

Investment in Videogold, Inc. stock, carried on the equity basis $5,500 increase

Accumulated depreciation, caused by major repair to projection equipment 2,100 decrease

Premium on bonds payable 1,400 decrease

Deferred income tax liability (long-term) 1,800 increase

In Metro's current year cash flow statement, the reported net cash provided by operating activities under the indirect method should be:

a) $147,000

b) $153,800

c) $144,900

d) $142,800

Reference no: EM13129844

Questions Cloud

Change on a deferred tax liability : When a change in the tax law or rates occurs, the effect of the change on a deferred tax liability or asset must be recognized as an adjustment as of the:

Formulas for volumes of cone and sphere : Please explain how to solve the following: Use the disk method to verify that the volume of a right circular cone is 1/3pir^2h.

Identify the inductive fallacy-stimulus money : Identify the inductive fallacy in the following example: Some say that the stimulus money paid to banks just went straight into the pockets of the bankers.

What are rhonda penalties for failure to file and to pay : Rhonda, a calendar year taxpayer, filed her 2010 return on November 4, 2012. She did not obtain an extension for filing her return, and the return reflects additional income tax due of $25,000.

Operating activities under indirect method : In Metro's current year cash flow statement, the reported net cash provided by operating activities under the indirect method should be:

Integration-anti-derivative : Please show how to solve each of the following problems. Find the antiderivative (integral)

Which substance is the limiting reactants : Consider the following combustion reaction: 2C4H10 + 13O2 -> 8O2 + 10H20. 125 g of C4H2O react with 415g O2.

Which project meets elysian standards : Elysian Fields Inc uses a maximum payback period of 6 years and currently must choose between two mutually exclusive projects. Project Hydrogen requires an initial outlay of $25,000; project Helium requires an initial outlay of $35,000.

Discuss the inherent audit risk : Discuss the inherent audit risk with the use of account receivable confirmation letters and how this risk can be minimized by the auditing firm.

User Account

All Pages