can someone please help me with this questions Martine Transportation (MT)...

60.1K

Verified Solution

Question

Accounting

can someone please help me with this questions
image
Martine Transportation (MT) Degen 2020 with accounts receivable, inventory, and proped expenses totaling 582,000. At the end of the year, MT had a total of 71.000 for these curent assets. At the beginning of 2020, MT owed current abilities of $48,000, and at year-end, current liabilities totailed $40.000 Net income for the year was 542.000 Included in net income were a $3,000 gan on the sale of land and depreciation expense of $10,000 Show how it should report cash fows from operating activities for 2020, MT uses the direct method (Use parentheses or a minus sign for numbers to be subtracted or a net decrease in cash) Cash flows from operating activities: Net income Adjustments to reconcile net income to not cash provided by operating activities Depreciation Ganonse of land Increase in accounts rovati, inventory and prepad expenses Degree in current Mobilios Nint cash provided by operating activities

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