Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. portions of the financial statements for horizon t

Portions of the financial statements for Horizon Telecom are provided below. Prepare the operating...

50.1K

Verified Solution

Question

Accounting

Portions of the financial statements for Horizon Telecom are provided below. image

Prepare the operating activities section of the statement of cash flows for Horizon Telecom using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.) image

And please explain how did you find the numbers too.

HORIZON TELECOM Income Statement For the Year Ended December 31, 2018 $616,000 Revenues Expenses: ost of goods sold Operating expenses Depreclation expense ncome tax expense $367,000 111,000 29,000 54,500 lotal expenses 561,500 Net Income $ 54,500 HORIZON TELECOM Selected Balance Sheet Data December 31, 2018 Increase in accounts receivable Increase in inventory Decrease in prepaid rent Increase in operating expenses payable Decrease in accounts payable Increase in income tax payable $ 5,200 11,100 10,900 6,100 7,000 21,900

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

Psychology
1.2K views

What are two broad areas of research that lead us to believe that some behavioral/personality characteristics...

Economics
1.2K views

What are the 4 types of goods? For each one, say whether they are excludable and...

Electrical Engineering
1.2K views

Explain sampling theorem and DTFT? provide an example.

Basic Math
1.2K views

For the given reports, are the given values of the correlation coefficient reasonable? 1. A) A correlation...

Biology
1.2K views

saved document to reflect the new changes O Cut

Physics
1.2K views

A cart of mass M traveling to the right on a frictionless track with a...

Basic Math
1.2K views

A hiker leaves the trailhead at 7 30am and heads due north at a rate...

Accounting
1.2K views

McClintock Manufacturing Inc. has the following information available for the month of July

Accounting
1.2K views

1.The category of "Other Receivables" does not include a.officers and employees receivable. b.interest receivable. c.taxes...

Accounting
1.2K views

The Baldwin Company currently has the following balances on their balance sheet: Total Liabilities $75,423...

Accounting
1.2K views

For its top managers, Global Travel formats its income statement as follows: (Click the...

Finance
1.2K views

Determine the semi-annual interest payment for the following three bonds: 5.5 percent coupon corporate bond,...