Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ohio, inc. uses the indirect method to prepare the

Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to...

50.1K

Verified Solution

Question

Accounting

image
image
image
Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Ohio, Inc. Income Statement Year Ended December 31, 2024 Revenues and Gains: Sales Revenue $157,000 Interest Revenue 6,400 Total Revenues and Gains $163,400 Expenses and Losses: Cost of Goods Sold $140,000 Salary Expense 23,000 Depreciation Expense 7,000 Other Operating Expenses 13,400 Interest Expense 16,400 Loss on Sale of Plant Assets 5,400 Income Tax Expense 5,500 Total Expenses and Losses $10,700 Net Income (Loss) $(47,300) Additional information provided by the company includes the following: Current assets, other than cash, decreased by $5,200. Total Expenses and Losses 210,700 Net Income (Loss) $(47.300) Additional information provided by the company includes the following: Current assets, other than cash, decreased by $5,200. Current liabilities increased by $2,400. Compute the net cash provided by (used for) operating activities. O A. $10,600 OB. $(27,300) OC. $(54,900) OD. $32,700

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