Which of the following would be added to net income using the indirect method quizlet
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Century 21 Accounting: General Journal11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman 1,009 solutions Net income is $132,000, accounts payable increased $10,000 during the year, inventory decreased $6,000 during the year, and accounts receivable increased $12,000 during the year. Under the indirect method, how much is net cash provided by operations? Entry field with correct answer The following data are available for Allen Clapp Corporation: Net
income $200,000 How much is cash provided by operating activities using the indirect method? Entry field with correct answer LKN Company reported net income of $80,000 for the year. During the year, accounts receivable increased by $6,000, accounts payable decreased by $4,000 and depreciation expense of $10,000 was recorded. Net cash provided by operating activities for the year is Entry field with correct answer $80,000. $90,000. $70,000. $72,000. A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2,000 and $14,000, respectively. There was also a loss on the sale of equipment of $17,000. How much cash was provided by operating activities? Entry field with correct answer $278,000. $299,000. $218,000. $201,000. Which of the following will be added to net income using indirect method?4. Under the indirect method of determining the net cash provided by operating activities on the statement of cash flows, depreciation is added to the net income for the period.
Which of the following would not be added to net income using the indirect method?The correct answer is option a. An increase in Land. Always remember that under the indirect method the net income is considered under operating...
Which of the following is added to net income as an adjustment under the indirect method of preparing?Under the indirect method, an increase in accounts payable is added to net income to arrive at net cash flows from operating activities.
Which of the following would be subtracted from net income when using the indirect method to derived net cash flows from operating activities?Answer and Explanation: The decrease in payables is subtracted because it means that there are more payments to creditors than purchases on account made during the period. This is not a cash expense. Hence, it should be added back to the net income to offset its effect.
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