Using the data in the tables below, compute Net Cash Flow from Operating Activities for...

50.1K

Verified Solution

Question

Accounting

Using the data in the tables below, compute Net Cash Flow from Operating Activities for Eureka Ruby, Inc. for Year 2:

image

Additional Data from Company Income Statement(s):

  • Sales in Year 2 = 3,737,000
  • Net income in Year 2 = 77,190
  • Depreciation expense in Year 1 = 253,000
  • Depreciation expense in Year 2 = 299,000

Record your answer as a dollar amount with no decimal places, but do not record a dollar sign or any commas. For example, record $10,280.38 as 10280. If your answer is a negative amount, put a hyphen before the number with no space between the number and the hyphen. For example, record negative 38 as -38.

Eureka Ruby, Incorporated Balance Sheets for the Years Ending December 31, (All amounts are in dollars) Year 1 14,860 267,480 118,880 401,220 965,900 118,880 1,486,000 74,300 178,320 44,580 193,180 490,380 460,660 44,580 178,320 312,060 1,486,000 Cash Accounts receivable Inventory Total current assets Net fixed assets* Land Total assets Notes payable Accounts payable Accruals Current portion of LT Debt Total current liabilities Long-term debt Common stock Capital surplus Retained earnings Total liabilities and equity Year 2 15,050 240,800 150,500 406,350 978,250 120,400 1,505,000 60,200 150,500 60,200 210,700 481,600 466,550 60,200 195,650 301,000 1,505,000

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