MOSS COMPANY Selected Balance Sheet Information December 31, 2019 and 2018 2019 2018 Current assets Cash $ 84,650 $ 26,800 Accounts receivable 25,000 32,000 Inventory 60,000 54,100 Current liabilities Accounts payable 30,400 25,700 Income taxes payable 2,050 2,200 MOSS COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 515,000 Cost of goods sold 331,600 Gross profit 183,400 Operating expenses Depreciation expense $ 36,000 Other expenses 121,500 157,500 Income before taxes 25,900 Income taxes expense 7,700 Net income $ 18,200 Use the information above to calculate cash flows from operating activities using the indirect method.
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Ответ:
The correct answer is $59,850.
Explanation:
According to the scenario, the computation of the given data are as follows:
Net income = $18,200
Depreciation expense = $36,000
Account receivable decrease = Account receivable in 2018 - Account receivable in 2019
= $32,000 - $25,000 = $7,000
Inventory increase = inventory in 2019 - inventory in 2018
= $60,000 - $54,100 = $5,900
Accounts payable increase = Accounts payable in 2019 - accounts payable in 2018
= $30,400 - $25,700 = $4,700
Income tax payable = Income tax in 2018 - income tax in 2019
= $2,200 - $2,050 = $150
So, Cash flow can be calculated as follows:
Cash flow = Net income + Depreciation expense + Account receivable decrease - Inventory increase + Accounts payable increase - Income tax payable
= $18,200 + $36,000 + $7,000 - $5,900 + $4,700 - $150
= $59,850
Ответ:
The first bike: $ 80
The fourth bike: $ 20
The sixth bike: $ 50
The seventh bike: $ 60
Explanation: