## Question

###### Below is an income statement and balance sheet with selected accounts. I need help creating the operating...

Below is an income statement and balance sheet with selected accounts. I need help creating the **operating section** of the statement of cash flows (using the indirect method). Thank you.

Income Statement | Selected Balance Sheet Accounts | |||||||

2018 | 2018 | 2017 | ||||||

Sales revenue | 75,500 | Accounts receivable | 879 | 650 | ||||

Cost of sales | 30,809 | Inventory | 89,600 | 83,750 | ||||

Gross profit | 44,691 | Accounts payable | 4,120 | 5,230 | ||||

Depreciation expense | 7,008 | Salaries payable | 250 | 775 | ||||

Rent expense | 15,230 | Rent payable | 2,100 | 1,100 | ||||

Salaries expense | 18,000 | Interest payable | 500 | 575 | ||||

Interest expense | 219 | Long-term debt | 300 | 330 | ||||

Net Income | 4,234 | Common stock equity | 3,265 | 220 |

## Answers

Solution

Statement of Cash Flows (Partial) Cash flows from operating activities: Net income $ 4,234 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation expense $ 7,008 Increase in accounts receivable $ (229) Increase in inventory $ (5,850) Decrease in salaries payable $ (525) Increase in rent payable $ 1,000 Decrease in interest payable $ (75) Decrease in accounts payable $ (1,110) $ 219 Net cash flow from operating activities $ 4,453

#### Similar Solved Questions

1 answers

##### Question 4 An oxygen O2 molecule is adsorbed onto a small patch of the surface of...

Question 4 An oxygen O2 molecule is adsorbed onto a small patch of the surface of a catalyst. It's known that the molecule is adsor 110 adsorption sites are available. Calculate the change in entropy (J/K) that occurs as a result of the modification. (Please enter your answer is scientific notat...

1 answers

##### 8 pts Question 11 Consider the following two mutually exclusive alternatives: $ 20,000 Uniform amul benefit...

8 pts Question 11 Consider the following two mutually exclusive alternatives: $ 20,000 Uniform amul benefit Useful life in years Alternative B may be replaced with an identical item every 20 years at the same $28,000 cost and will have the same $2.750 uniform annual benefit. Ata 7% interest rate, us...

1 answers

##### Name Risk and return Assignment A. Calculate the rate of return for each investment for the...

Name Risk and return Assignment A. Calculate the rate of return for each investment for the specified period of time: Note: You can use my template below or do your own calculation Total Return % Return Cash flow during period Beg Value Ending Vall Inc/Dec $ (800) $ 1,100 $ 100 $ 15,000 $ 120,000 $ ...

1 answers

##### 1. EMTALA requires hospitals participating in Medicare to provide screening examinations to persons who seek treatment...

1. EMTALA requires hospitals participating in Medicare to provide screening examinations to persons who seek treatment at the emergency department. If an emergency condition exists, the hospital must: a. provide palliative care when needed. b. treat and stabilize the patient unless the patient is tr...

1 answers

##### Discrete math do all please 2. Six people attend the theater together and sit in a...

discrete math do all please 2. Six people attend the theater together and sit in a row with exactly six seats. (a) In how many ways can they be seated together in the row? (b) Suppose one of the six is a doctor who must sit in a specific aisle seat in case she is paged. How many ways can the peop...

1 answers

##### Propose reagents for conversions 6) Proponha reagentes para as conversões: -COOH —СН,он онн –CH=CH- -CN С=N...

Propose reagents for conversions 6) Proponha reagentes para as conversões: -COOH —СН,он онн –CH=CH- -CN С=N —» Soon -c-c— нон | е) —Ю, — — ОН —
...

1 answers

##### 10. Find the expected value of a random variable having the following probability distribution: x-3-1 |01|5

10. Find the expected value of a random variable having the following probability distribution: x-3-1 |01|5...

1 answers

##### (-/3 Points] DETAILS BBUNDERSTAT11 5.R.009. According to Harper's Index, 55% of all federal inmates are serving...

(-/3 Points] DETAILS BBUNDERSTAT11 5.R.009. According to Harper's Index, 55% of all federal inmates are serving time for drug dealing. A random sample of 16 federal inmates is selected (a) What is the probability that 11 or more are serving time for drug dealing? (Round your answer to three deci...

1 answers

##### Evaluate in matlab please Part d Faculty of Engineering Question 1 Consider the integral 8 1-0.055x4...

Evaluate in matlab please Part d Faculty of Engineering Question 1 Consider the integral 8 1-0.055x4 0.86x3 - 4.2x2 + 6.3x + 2)d:x 0 Evaluate the integral analytically to four decimal places. Use Romberg integration to evaluate the integral to an accuracy of to three decimal places. Evaluate the giv...

1 answers

##### Question 8 Which of the following items should be included in gross income? 1) Life insurance...

Question 8 Which of the following items should be included in gross income? 1) Life insurance proceeds 2) Child support payments 3) Accident and health insurance proceeds 4) Cash rebate from a dealer on a car purchase 5) Moving expense reimbursements received from an employer Question 9 Ms. Green is...

1 answers

##### QUESTION 5 (15 points) a. You have a power supply which is a full-wave rectifier with a capacitor filter. It operates f...

QUESTION 5 (15 points) a. You have a power supply which is a full-wave rectifier with a capacitor filter. It operates from the mains and provides an output of Voc-20 V with 20% ripple, when the load current is 2 A Calculate the maximum and minimum values of the output waveform of this power supply. ...

1 answers

##### Active transport requires and in order to function correctly. • A. nucleic acids, membrane proteins e...

Active transport requires and in order to function correctly. • A. nucleic acids, membrane proteins e B. energy, peripheral proteins C. energy, membrane pxoteins D. energy, nucleic acids Which of the following is not a Eukaryote? A. Oak tree B. Bacteria C. Human D. Mushroom A neuron has many sh...

1 answers

##### Find the slope of the curve y= - 2x2 at (1, - 2). The slope of...

Find the slope of the curve y= - 2x2 at (1, - 2). The slope of the curve y = – 2x2 at (1, - 2) is I. (Simplify your answer.) Find the slope of the following curve at x = 7. 1 y=x-5 Thn alana Find equations of all lines having slope - 1 that are tangent to the curve y = 4 X-9 Choose the equatio...

1 answers

##### I need assistance with this question. 1. Jordan wants to retire in 15 years when he...

I need assistance with this question. 1. Jordan wants to retire in 15 years when he turns 65. Jordan wants to have enough money to replace 75% of his current pre-tax (before income tax and FICA) income in annual installments at the beginning of each year less what he expects to receive from Social S...

1 answers

##### You face three mutually exclusive options for next summer: Option A: Work 40 hours a week...

You face three mutually exclusive options for next summer: Option A: Work 40 hours a week at the local WalMart and earn $3,500 dollars. Option B: Work only 30 hours a week at a local restaurant and earn $2,500 dollars. The ten hours per week of additional leisure (compared to a 40-hour work week) ar...