Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. 2. exercise...

1. 2. Exercise...

70.2K

Verified Solution

Question

Accounting

1.

image

2.

image

Exercise 11-6 (Algo) Calculate operating activities-indirect method (LO11-3) Bead World reports net income of $146,000. Included in net income is a gain on the sale of land of $10,500. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $16,000, an increase in inventory of $10,500, and a decrease in accounts payable of $36,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Exercise 11-7 (Algo) Calculate operating activities-indirect method (LO11-3) Technology Distributors reports net income of $61,000. Included in that number is depreciation expense of $13,000 and a loss on the sale of land of $5,600. A comparison of this year's and last year's balance sheets reveals a decrease in accounts receivable of $31,000, a decrease in inventory of $18,000, and an increase in accounts payable of $51,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

The anticodon sequence of the tRNA carrying lysine into the ribosome is 3’-UUC-5’. Write down the...

Operations Management
1.2K views

Please submit as a single Excel file. To receive credit, appropriate detail needs to be provided....

Biology
1.2K views

In C3 photosynthesis, the first step of the Calvin cycle occurs when CO? combines with...

Biology
1.2K views

Which of the following statements best explain the way in which enzymes make chemical reactions...

Biology
1.2K views

Teachers Industrial engineers Agricultural scientists Based on this list and your own knowledge this list...

Biology
1.2K views

access to higher education changes in the curriculum the recruitment of more professors of color...

Physics
1.2K views

Figures below show regular hexagons with charges at the vertices In which of the following...

Calculus
1.2K views

Find each x value at which f is discontinuous and for each x value determine...

Accounting
1.2K views

Sage Corporation was formed 5 years ago through a public subscription of common stock, Daniel...

Accounting
1.2K views

The RVRCOB Holdings is a conglomerate that operates in multiple industries. Each firm it owns...

Accounting
1.2K views

11) The two main ways to track physical units of inventory within the accounting syste...

Accounting
1.2K views

CHAPTER 19 (5.) Allied Paper Products, Inc., offers a restricted stock award plan to its...