Question: Q2. The Meta company uses indirect method for preparing its statement of cash flows. It reported a net income of Rs. 100,000 for the year

Q2. The Meta company uses indirect method for preparing its statement

Q2. The Meta company uses indirect method for preparing its statement of cash flows. It reported a net income of Rs. 100,000 for the year 2016. During the year 2016, the working capital accounts were changed as follows: - Increase in accounts receivable: Rs. 22,000 - Increase in accounts payable: Rs.18,600 - Increase in inventory: Rs.14,800 - Decrease in non-trade notes payable: Rs. 30,000 - Increase in available for sale securities: Rs. 32,000 - The depreciation expense was Rs.34,000 for the year 2016. You are Required to Compute net cash provided (used) by operating activities using indirect method. [10 Marks]

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

RegdNo. 323103129 Assignment No. 1 Course Code: EACC506 Registration Number: Instructions: a. Attempt all questions given below in your own handwriting. Assignment in typed format will not be...

Exercise 4 The Big and Fast company provides the following information about its activities in the year Treasury stock purchased: $25,000 Inventory purchased $220,000 Land sold: $70,000 Machinery...

Exercise 4: The following activities were performed by L&M corporation during the year 2018. Treasury stock purchased: $44,000 Accounts payable pald: $526,000 Note receivable collected: $35,000...

Accounts payable paid: $526,000 Note receivable collected: $35,000 Dividends paid: $186,000 Bonds payable issued: $356,000 Common stock issued: $125,000 Compute net cash provided/used by financing...

1 The Meta company uses indirect method for preparing its statement of cash flows. It reported a net income of $100,000 for the year 2016. During the year 2016, the working capital accounts were...

The Meta company uses indirect method for preparing its statement of cash flows. It reported a profit of $250,000 for the year 2018. During the year 2016, the working capital accounts were changed as...

please provide a full page .. So i can see . Thank you Exercise 2: The Meta company uses indirect method for preparing its statement of cash flows. It reported a profit of $250,000 for the year 2018...

6 16 78.8% Machinery purchased: $143,000 Common stock issued: $126,000 Compute net cash provided/used by investing activities Exercise 4: The following activities were performed by L&M corporation...

Question 1 (5 marks): Cash flow statement Continental LLC, UAE uses indirect method for preparing its statement of cash flows. It reported a net income of AED 200,000 for the year 2021. Cash at the...

Bill Davis is 58 years old and unmarried. Bill provides 100% of the support for his father, who is 88 years old and is also blind. His father lives in his own apartment in a retirement center. Bill...

"At the McGraw-Hill Companies, word came down from the chief executive officer: It was time to supplement the open-door policy with a formal, in-house alternative dispute resolution (ADR) program. He...

Use Pablo's credit card statement showed these transactions during March: \ table [ [ March 1 , Previous Balance,$ 1 2 8 2 . 3 0

Michael Porter's approach to industry analysis uses how many factors to determine the general competitiveness?

Which of the potential advantages and disadvantages of group problem solving and decision-making do you think arise most frequently?

Are creativity and innovation really that important to all types of businesses?

What is the difference between a rule and a norm? Do norms help or hurt groups? Is it ethical to make group members comply with group norms? Can groups stop having norms?