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Author Question: Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in ... (Read 15 times)

olsonmanny@gmail.com

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on: Feb 5, 2023

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
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by olsonmanny@gmail.com on Feb 5, 2023

hiyayyay

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Reply #1 on: Feb 5, 2023
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.
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olsonmanny@gmail.com

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Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

epscape

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Reply 3 on: Yesterday
:D TYSM

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