Question: In 2012 Jewels Company had net income of 350 000 The
In 2012, Jewels Company had net income of $350,000. The depreciation on plant assets during 2012 was $73,000, and the company incurred a loss on the sale of plant assets of $20,000. All other transactions were cash. Compute net cash provided by operating activities under the indirect method.
Answer to relevant QuestionsSupply, Inc., had $125,000 of retained earnings at the beginning of the year and a balance of $150,000 at the end of the year. Net income for the year was $80,000. What caused the change in the retained earnings balance? ...The income statement for Sharp, Inc., for the month of May showed insurance expense of $250. The beginning and ending balance sheets for the month showed an increase of $50 in prepaid insurance. There were no payables ...Use the income statement for Hargrove Dynamics, Inc., for the past year ended December 31, 2011, and the information from the comparative balance sheets shown for the beginning and the end of the year to prepare the cash ...The following information was taken from Artist, Inc.’s balance sheets at December 31, 2009 and 2010:Net income for 2010 was $21,000. Depreciation expense was $11,000.Prepare the cash provided by operating activities ...Given the following information, calculate the change in cash for the year:Cash received from sale of company equipment.....$ 20,000Cash paid for salaries ................ 8,500Cash paid for other operating expenses ...
Post your question