Lense Laboratories' net income was $330,000. Given the account information below, what is the net cash...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Lense Laboratories' net income was $330,000. Given the account information below, what is the net cash flows from operating activities for Lense Laboratories? Increase in Accounts Receivable Increase in Salaries Payable Decrease in Inventory Depreciation Expense Increase in Prepaid Insurance Multiple Choice $335,300 $420,700 $540,300 $403,700 $65,000 $56,500 $37,500 $48,000 $ 3,300 Lense Laboratories' net income was $330,000. Given the account information below, what is the net cash flows from operating activities for Lense Laboratories? Increase in Accounts Receivable Increase in Salaries Payable Decrease in Inventory Depreciation Expense Increase in Prepaid Insurance Multiple Choice $335,300 $420,700 $540,300 $403,700 $65,000 $56,500 $37,500 $48,000 $ 3,300
Expert Answer:
Answer rating: 100% (QA)
Net income 330000 Add Non cash items Depreciation 48000 Addless Wor... View the full answer
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date:
Students also viewed these accounting questions
-
Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations. Cash Flows from Operating Activities (Indirect method) Net income...
-
Cash flows from operating activities for both the indirect and direct methods are presented for Reverse Logic. All amounts are in thousands (000s). Required: Complete the following income statement...
-
Cash flows from operating activities for both the indirect and direct methods are presented for Audio Systems. Required: Complete the following income statement for Audio Systems. Assume all accounts...
-
Which of the following statements about close buyer-seller relationships in business markets is FALSE? Long-term commitments on larger order quantities often cause the supplier to raise its selling...
-
The Morgan Corporation has two different bonds currently outstanding. Bond M has a face value of $30,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $800...
-
1. A new car loses about ________ percent of its value in the first week because recent buyers are more likely to want to sell a ________ (lemon/plum). 2. Arrows up or down: Government regulations...
-
1. Read the text materials on feedforward, concurrent, and feedback control. 2. Read the Control Problem Situation and be prepared to resolve those control problems in a group setting. 3. Your...
-
Presented below are two independent situations. Situation A: Chenowith Co. reports revenues of $200,000 and operating expenses of $110,000 in its first year of operations, 2012. Accounts receivable...
-
Your client, Gabe, needs to calculate the business part of his real estate taxes. How can Gabe calculate the business part of his real estate taxes? Unset starred question Add the real estate taxes...
-
1. XYZ Ltd. ("XYZ") yesterday issued a $1,000 par value 5 year bond ("the Bond"), In evaluating any capital budgeting proposal, XYZ has, historically, utilized a Required Rate of Return of 25%. As a...
-
More Complex Financial Statements Ragequit PC Repair specializes in computer equipment repair following incidents of "gamer rage". After losing online games some gamers enter a fit of irrational...
-
Ratio Analysis 1. What are 2 of the liquidity ratios? When do you use them?
-
Vaughan owns and operates a daycare. In 2023, he purchased and placed the following new assets into service for his business: February 4, a $1,250 karaoke system. June 16, a $600 table. August 2, a...
-
What is the role of the board of directors in corporate governance? Explain your answer in detail. b ) Discuss in detail some of the concerns regarding how effectively the board of directors is...
-
Price -------------------------------- $4 --------------$5 ----------------- $6 ------------------ $7 ---------------- $8 ------------------ $9 Quantity Demanded ------------135 -------------104...
-
what are the test procedures used to evaluate fire hazards of roof coverings? Explain
-
Dorothy Dunning , Chief Production Manager , was on top of the world just two years ago . In her nontraditional job , she was cited to be the real backbone of the company , and her performance was in...
-
Linda Lopez opened a beauty studio, Lindas Salon, on January 2, 2011. The salon also sells beauty supplies. In January 2012, Lopez realized she had never filed any tax reports for her business and...
-
What entry is made for indirect materials issued from the storeroom?
-
Information about Vinzant Companys inventory of one item follows. Compute the cost of the ending inventory under (1) The average cost method (round unit cost to the nearest cent), (2) The FIFO...
-
Ford Motor Company (www.fordmotorcompany.com) and General Motors (www.gm.com) have two departments: Automobile Sales and Financing. Go to each companys financial statements on its website (investors,...
-
Refer to the information in problem 35. Determine Marlees income tax liability for 2017.
-
John has taxable income of $30,000. William has taxable income of $60,000. Determine their 2017 income taxes if they are both single individuals and claim the standard deduction. Compare their...
-
Lilikoi Corporation began business in 2015. Lilikoi earned taxable income of $40,000 in 2015 and $120,000 in 2016. For 2017, Lilikoi Corporation has a net operating loss of $50,000 and decides to...
Study smarter with the SolutionInn App