This topic contains a solution. Click here to go to the answer

Author Question: Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in ... (Read 25 times)

olsonmanny@gmail.com

  • Full Member
  • ***
  • Posts: 141

Question 1

Which of the following items is not included in the calculation of cash flows provided by operating activities using the indirect method?
◦ Gain on the sale of equipment
◦ Depreciation expense
◦ Net income
◦ Repayment of long-term debt

Question 2

Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in balance sheet accounts for the year were as follows:


Increase (Decrease)
Accounts receivable($5,000)
Inventory3,000  
Property, plant and equipment15,000  
Accumulated depreciation3,000  
Depreciation expense1,000  
Accounts payable6,000  
Accrued liabilities(2,000)

What is the amount of net cash provided by operations?
◦ $17,000
◦ $14,000
◦ $30,000
◦ $1,000


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by olsonmanny@gmail.com on Feb 5, 2023

hiyayyay

  • Full Member
  • ***
  • Posts: 204
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 64% of students answer this correctly




olsonmanny@gmail.com

  • Member
  • Posts: 141
Reply 2 on: Feb 5, 2023
Gracias!


bblaney

  • Member
  • Posts: 323
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

For a complete list of videos, visit our video library