This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in ... (Read 64 times)

olsonmanny@gmail.com

  • Full Member
  • ***
  • Posts: 141
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
Buy Test-Bank


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
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.
Answer Preview
Only 64% of students answer this correctly


olsonmanny@gmail.com

  • Member
  • Posts: 141
Reply 2 on: Feb 5, 2023
Thanks for the timely response, appreciate it

pratush dev

  • Member
  • Posts: 321
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Worldwide Variations in Population and Income Levels Worldwide Variations in Population and Income Levels
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Ten Leading Causes of Death in Low-Income Countries, 2008 Ten Leading Causes of Death in Low-Income Countries, 2008
Regional Variation in Income and Access to the Sea Regional Variation in Income and Access to the Sea
Productivity in Selected Industries in the Early 1990s Productivity in Selected Industries in the Early 1990s
Video: ACTH/Cortisol (glycogenolysis, protein catabolism, lipolysis and gluconeogenesis)

For a complete list of videos, visit our video library