GW Photography reported net income of $100,000 for 2012. Included in the income statement were depreciation expense
Question:
GW Photography reported net income of $100,000 for 2012. Included in the income statement were depreciation expense of $6,300, patent amortization expense of $4,000, and a gain on sale of equipment of $3,600. GW??s comparative balance sheets show the following balances.
Calculate net cash provided by operating activities for GW Photography.
Transcribed Image Text:
12/31/12 12/31/11 Accounts receivable Accounts payable $21,000 9,200 $27,000 6,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Cash flows from operating activities Net income 100000 Adjustments to rec...View the full answer
Answered By
Sidharth Jain
My name is Sidharth. I completed engineering from National Institute of Technology Durgapur which is one of the top college in India. I am currently working as an Maths Faculty in one of the biggest IITJEE institute in India. Due to my passion in teaching and Maths, I came to this field. I've been teaching for almost 3 years.
Apart from it I also worked as an Expert Answerer on Chegg.com. I have many clients from USA to whom I teach online and help them in their assignments. I worked on many online classes on mymathlab and webassign. I guarantee for grade 'A'.
4.90+
3+ Reviews
10+ Question Solved
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The computation of cash provided by operating activities requires analysis of the noncash current asset and current liability accounts. Determine the missing amounts for each of the following...
-
Following are the line items included in the 2009 statement of cash ows prepared by The Nine Muses, Inc. (amounts are in thousands): Proceeds from sale of long-term...
-
In 2008, Chevron reported net income of $23.9 billion, $5.4 billion of which was income recognized on investments in affiliate companies accounted for under the equity method. In that same year,...
-
Although illegal, overloading is common in the trucking industry. A state highway planning agency (Minnesota Department of Transportation) monitored the movements of overweight trucks on an...
-
The jet engine shown scoops in air at A at a rate of 200 lb/s and discharges it at B with a velocity of 2000 ft/s relative to the airplane. Determine the magnitude and line of action of the...
-
At the end of 2020, Tetris Inc. reported total assets of $236,000 and capital stock of $39,000. It also reported retained earnings at $56,000. What would the total liabilities be as of December 31,...
-
State the null and alternative hypotheses \(\left(\mathrm{H}_{0} ight.\) and \(\left.\mathrm{H}_{1} ight)\) for each of the following research questions: a. Are the average starting salaries for...
-
Bruno Industries expects credit sales for January, February, and March to be $200,000, $260,000, and $310,000, respectively. It is expected that 70% of the sales will be collected in the month of...
-
[111] The inverse of the matrix A = 6 7 8 8 using 6 7-8 adjoint method is :
-
Suppose General Motors (GM) stock sells for 25 dollars a share today. The stock will pay a dividend of 2 dollars at the end of the year. The annual risk free rate is 4 percent. (a) What is the...
-
Kirby Corporation had the following transactions. 1. Issued $160,000 of bonds payable. 2. Paid utilities expense. 3. Issued 500 shares of preferred stock for $45,000. 4. Sold land and a building for...
-
Barnish Corporation issued the following statement of cash flows for 2012. (a) Compute free cash flow for Barnish Corporation. (b) Explain why free cash flow often provides better information than...
-
Explain, using several different accounting topics, in what ways domestic German accounting rules are more conservative than IFRS.
-
What capital components are typically included when estimating a firms CCC?
-
Should large businesses estimate divisional costs of capital? Explain your answer.
-
What is the primary difference between the CCC for invest or owned and not-for-profit firms?
-
Some people are about to form a company, as a vehicle through which to run a new business. What factors should they bear in mind when deciding between forming a private limited company or a public...
-
Compare the main features of a preference share with those of: (a) an ordinary share; and (b) loan notes.
-
Suppose that in September 2016 a company takes a long position in a contract on May 2017 crude oil futures. It closes out its position in March 2017. The futures price (per barrel) is $58.30 when it...
-
It is possible to investigate the thermo chemical properties of hydrocarbons with molecular modeling methods. (a) Use electronic structure software to predict cHo values for the alkanes methane...
-
How would you describe the shape of the water and ozone molecules? Follow the convention! Ignore the lone pairs on each central atom. Cover them up and use a word or phrase that best describes the...
-
Gary Theater is in the Hoosier Mall. A cashier's booth is located near the entrance to the theater. Two cashiers are employed. One works from 1:00 to 5:00 P.M., the other from 5:00 to 9:00 P.M. Each...
-
Gary Theater is in the Hoosier Mall. A cashier's booth is located near the entrance to the theater. Two cashiers are employed. One works from 1:00 to 5:00 P.M., the other from 5:00 to 9:00 P.M. Each...
-
Blue Bayou Middle School wants to raise money for a new sound system for its auditorium. The primary fund-raising event is a dance at which the famous disc jockey Kray Zee will play classic and...
-
A farmer wonders if his crops grow better in sun or in shade. He measures the amount of fruit gathered from a sample of 50 trees growing in full sun and from a sample of 50 trees growing in mostly...
-
Consider the diagram. Determine the length of AC to the nearest cm. Determine the length of DC to the nearest cm. 28 38 A 224 cm 789 B
-
Use this picture to answer the following questions. 10 18 16. 3 AB=10 AC=16 AD=22 AE=15 BC-17 BD=18 15 BE=25 CD=26 CE=8 DE=11 Find the Nearest Neighbor Circuit for each vertex. Also give the weight...
Study smarter with the SolutionInn App