00 T-Mobile 7:55 PM 42%. mathxl.com Horngren S Financial Manag My Courses- alamo
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00 T-Mobile 7:55 PM 42%. mathxl.com Horngren S Financial Manag My Courses- alamo.edu MyLab and Mastering Course Home Review Test- Kendra Logan Kendra Logan 5/1/16 7:55 PM Review Quiz: Chapter 14 Quiz Close Score: 0 of 1 pt 80f 10 Test Score: 60%, 6 of 10 pts 14.2-45 Rodriguez Tint Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Rodriguez Inc. Income Statement Year Ended December 31, 2015 $155,000 6,000 (5.000) Sales Revenue Interest Revenue Loss on Sale of Plant Assets Total revenues and gains Cost of Goods Sold Salary Expense Depreciation Expense $156,000 110,000 19,000 7,000 A. $10,000 B. $(300) C. $4,700 XD. $7,300 Move your pointer over or tap on the red indicators to see incorrect answers.Explanation / Answer
Calculation of Net Cash Provided by Operating Activities:
(Using Indirect Method of Cash Flow Statement)
Net Income (loss )
$ (14,300)
Add: Loss on Sale of Plant Assets
$ 5,000
Add: Depreciation Expense
$ 7,000
Add: Decrease in Current assets other than cash
$ 5,000
Add: Increase in current Liabilities
$ 2,000
Net Cash Provided by Operating Activities
$ 4,700
Calculation of Net Cash Provided by Operating Activities:
(Using Indirect Method of Cash Flow Statement)
Net Income (loss )
$ (14,300)
Add: Loss on Sale of Plant Assets
$ 5,000
Add: Depreciation Expense
$ 7,000
Add: Decrease in Current assets other than cash
$ 5,000
Add: Increase in current Liabilities
$ 2,000
Net Cash Provided by Operating Activities
$ 4,700
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