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Presentation/PPT
27/08/2022
During 20B, Bogus Corporation reported net income of $10,000. During the year, depreciation expense was $5,000, accounts payable increased $2,000 and accounts receivable increased $4,000. Therefore, based upon this information, the “cash inflow from operating activities” wasA) $21,000. B) $20,000. C) $16,000. D) $13,000. E) None of the above is correct. Travis Company reported net income for 20B of $20,000, depreciation expense of $6,000, and amortization expense (patent) of $5,000. Also, accounts payable increased by $7,000 and inventory decreased by $2,000. The amount of “cash flows from operating activities” for 20B wasA) $34,000. B) $35,000. C) $36,000. D) $40,000. E) None of the above is correct. Allen Company reported total sales revenue of $150,000 and total expenses of $152,000 (i.e., a net loss of $2,000) for the year ended December 31, 20D. During 20D, accounts receivable decreased by $1,000, trade payables increased by $5,000, wages payable increased by $3,000, and $18,000 in depreciation expense was recorded. Assuming no other adjustments are needed, the “net cash flow from operating activities for 20D was (parentheses indicate net cash outflow)A) $29,000B) $25,000C) $23,000D) ($1,000)E) None of the above is correct.Jackson Company gathered the following data to prepare its 20B statement of cash flows:Net Income$40,000Depreciation expense$5,000Accounts recievable decrease$3,000Wages payable increase$4,000Amortization of patent$1,000Income tax payable decrease$2,000Based only on the above data, the net cash inflow from operating activities during 20B wasA) $43,000. B) $51,000. C) $53,000. D) $45,000. E) None of the above is correct. BC Company reported total sales revenue of $80,000 and total expenses of $72,000 (i.e., net income $8,000) for the year ended December 31, 20X. During 20X, accounts receivable increased by $3,000, merchandise inventory decreased by $2,000, accounts payable increased by $1,000, and $5,000 in depreciation expense was recorded. Assuming no other adjustments to net income are needed, the net cash inflow from operating activities wasA) $10,000. B) $11,000. C) $13,000. D) $19,000. E) None of the above is correct.
During 20B, Bogus Corporation reported net income of $10,000. During the year, depreciation expense was $5,000, accounts payable increased $2,000 and accounts receivable increased $4,000….
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