Exam 15: Statement of Cash Flows

Accounts receivable arising from sales to customers amounted to $62,000 and $40,000 at the beginning and end of the year,respectively.Income reported on the income statement for the year was $215,000.Exclusive of the effect of other adjustments,the cash inflows from operating activities to be reported on the statement of cash flows are:

Dance Unlimited Company reported net income of $80,000 for the year.During the year,accounts receivable decreased by $3,000,accounts payable increased by $4,500 and depreciation expense of $9,000 was recorded and there was a gain on the sale of long-term investments of $2,000.Using the indirect method,net cash flows from operating activities for the year are:

The following information is available for Snider Company: Required: Based on the preceding information,compute the net cash provided by operating activities.

In calculating cash flows from operating activities using the indirect method,a loss on the sale of equipment will appear as a(n)

Last year Lawson Company reported sales of $150,000 on its income statement.During the year,accounts receivable decreased by $15,000 and accounts payable decreased by $35,000.The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows.The sales revenue adjusted to a cash basis would be

Land costing $78,000 was sold for $93,000 cash.The gain on the sale was reported on the income statement as other income.On the statement of cash flows,what amount should be reported as an investing activity from the sale of land?