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Author Question: Which item is a noncash item that would be added to net income to convert it to cash flow from ... (Read 94 times)

MirandaLo

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  • Posts: 538
on: Jul 6, 2018
Which item is a noncash item that would be added to net income to convert it to cash flow from operating activities?
 
  a. Accounts receivable.
  b. Depreciation.
  c. Accounts payable.
  d. Inventory.
 
  Use the indirect method to answer questions 7-10 . The following information is available for Armstrong Company:
 
   Net income 450 Increase in plant and equip. 170
   Depreciation expense 80 Payment of dividends 10
  Decrease in accts. receiv. 20 Increase in long-term debt 100
   Increase in inventories 15 Decrease in accounts payable 30

Question 2

Payroll Tax Expense includes all of the following EXCEPT:
 a. FICA Taxes Payable
  b. SUTA
  c. FUTA
  d. Federal Income Tax Withheld


makaylafy

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  • Posts: 347
Reply #1 on: Jul 6, 2018
Answer to Question 1

a

Answer to Question 2

D


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