In order to determine net cash provided by operating activities, a
company must convert net income from an accrual basis to a cash
basis under
Question 12
The information to prepare the statement of cash flows comes from all
of the following sources except
Question 13
Peninsula Company reported net income of $260,000 for the year.
During the year, accounts receivable increased by $21,000, accounts
payable decreased by $9,000 and depreciation expense of $45,000 was
recorded. Net cash provided by operating activities for the year is
Question 14
In calculating cash flows from operating activities using the indirect
method, a loss on the sale of equipment will appear as a(n)
Question 15
The net income reported on the income statement for the current year
was $440,000. Depreciation was $62,000. Accounts receivable and
inventories decreased by $20,000 and $32,000, respectively. Prepaid
expenses and accounts payable increased, respectively, by $2,000 and
$16,000. How much cash was provided by operating activities?
Question 16
The statement of cash flows will not provide insight into
Question 17
Laser Performance Inc. has the following information available
(amount in thousands).
Net Income
$30,000
Average Total Liabilities
80,000
Average Current Liabilities
36,000
Cash Provided by Operations
48,000