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 55 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
Great answer, keep it coming :)

aruss1303

  • Member
  • Posts: 314
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

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
Sociologists use income, education, and occupational prestige to measure social class. For most ... Sociologists use income, education, and occupational prestige to measure social class. For most ...
Income of Adult Children Compared With That of Their Parents Income of Adult Children Compared With That of Their Parents
Relationship between Income and Happiness in the United States Relationship between Income and Happiness in the United States
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library