Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Sun Company provided the following data for the preparation of the statement of cash flows for the current year:  Increase in accounts receivable 300,000 Decrease in income tax payable 170,000 Depreciation 1,000,000 Net income250,000 Gain on sale of equipment __440,000 I oss on sale of building 210,000  16 - 25

Sun Company provided the following data for the preparation of the statement of cash flows for the current year:  Increase in accounts receivable 300,000 Decrease in income tax payable 170,000 Depreciation 1,000,000 Net income250,000 Gain on sale of equipment __440,000 I oss on sale of building 210,000  16 - 25

Finance

Sun Company provided the following data for the preparation of the statement of cash flows for the current year: 
Increase in accounts receivable 300,000 Decrease in income tax payable 170,000 Depreciation 1,000,000 Net income250,000 Gain on sale of equipment __440,000 I oss on sale of building 210,000 
16 - 25. Using the indirect method, what amount should be reported as net cash provided by operating activities? 
 

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE

Answer Preview

Calculation of Net Cash provided by Operating Activities:  
   
Particulars Amount
Net Income 250,000
Adjustments to reconcile Net Income:  
Depreciation 1,000,000
Gain on sale of equipment -440,000
Loss on sale of building 210,000
Changes in working capital:  
Increase in accounts receivable -300,000
Decrease in income tax payable -170,000
Net Cash provided by Operating Activities 550,000