The net income reported on the income statement for the current year was $250,000 . Depreciation recorded onfixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of currentasset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $ 50,000 $ 60,000 Accounts receivable 112,000 108,000
Inventories 105,000 93,000 Prepaid expenses 4,500 6,500 Accounts payable (merchandise creditors) 75,000 89,000 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by theindirect method?
a. $271,000
b. $279,000
c. $327,000
d. $256,000
a
You might also like to view...
The level of resources each activity will need to be completed in the given amount of time has been estimated; therefore, there are no resource constraints.
Answer the following statement true (T) or false (F)
The stage of the money laundering process that includes making wire transfers between various accounts or changing the money's currency is called the:
a. integration stage. b. placement stage. c. layering stage. d. insertion stage.
________ is a dispute resolution process whereby parties submit their disagreements to a private individual decision maker they have agreed on or to a panel of decision makers whose selection has been provided for in the contract the parties signed
A) Prosecution B) Mediation C) Litigation D) Arbitration
(Future tense) New employees ____ diversity training on June 1
A) complete B) completed C) will complete