The Cash Flow from Operating Activities on Moore’s statement of cash flows for 2018 was $8,000,000. For 2018, depreciation on fixed assets was $3,800,000, amortization of intangibles was $100,000 and gains on the sale of fixed assets were $22,000. Based on the preceding information, Moore’s net income for 2018 was:

The Cash Flow from Operating Activities on Moore’s statement of cash flows for 2018 was $8,000,000. For 2018, depreciation on fixed assets was $3,800,000, amortization of intangibles was $100,000 and gains on the sale of fixed assets were $22,000. Based on the preceding information, Moore’s net income for 2018 was:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 6EA: Use the following information from Birch Companys balance sheets to determine net cash flows from...

See similar textbooks

Similar questions

Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020 by using indirect method.
In its 2017 annual report, Allen Company reports the following (in thousands): 2017 2016 Total revenue $102,500 $99,400 Property, plant, equipment, gross 41,300 38,700 Property, plant, equipment, net 16,540 14,905 Depreciation expense 1,935 1,655 If revenue growth is projected to be 5%, the 2018 forecasted depreciation expense to be added back on the statement of cash flows is: A. $1,935 thousand B. $2,147 thousand C. $1,766 thousand D. $2,065 thousand E. None of the above disregard
Determine the amount of net cash flow for o'hare for 2017 if the sales revenue was 82,300, the depreciation expense was 14,300, and the net income was 68,000
Broussard Company reported net income of $3.5 millionin 2017. Depreciation for the year was $520,000, accountsreceivable increased $500,000, and accounts payableincreased $300,000. Compute net cash flow from operatingactivities using the indirect method.
Use the information provided below to prepare the Cash Flow Statement of Alto Limited for the year ended 31 December 2022. INFORMATION The following amounts were obtained from the Statement of Comprehensive Income for the year ended 31 December 2022 and Statement of Financial Position of Alto Limited as at 31 December 2022 and 31 December 2021: Sales Cost of sales Depreciation Operating profit Interest expense Company tax for the year Property, plant and equipment (carrying value) Long-term investments Inventories Accounts receivable Prepaid expenses Cash and cash equivalents Ordinary share capital (All shares issued at R10 each) Retained earnings Non-current liabilities Accounts payable Accrued expenses Dividends payable Company tax payable 31 Dec 2022 R 11 000 000 6 500 000 750 000 1 650 000 450 000 400 000 6 250 000 350 000 2 150 000 1 700 000 200 000 500 000 3 100 000 3 000 000 3 600 000 1 100 000 100 000 200 000 50 000 31 Dec 2021 R Note: ■ Dividends paid and recommended during…
Use the following information from Dubuque Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets Sales Cost of Goods Sold Operating Expenses, other than depreciation expense Depreciation Expense Gain on Sale of Plant Assets $ 299,000 (135,000) (27,000) (17,000) 16,500 136,500 Net Income Dec. 31, 2018 $45,300 1,600 22,500 900 Accounts Receivable Inventory Accounts Payable Accrued Liabilities Accounts Receivable Inventory Accounts Payable Accrued Liabilities Dec. 31, 2017 $43,400 1,800 21,250 1,150 PLEASE NOTE: Use the account and term names exactly, as shown above and the accounts will be listed in the same order as shown in the textbook examples. All dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345) and decreases will be shown with parentheses - $(12,345).
For 2019, Nirvana Industries disclosed cash revenue of $12.0 million and cash expenses of $6.0 million, depreciation on plant and equipment of $2.0million and an effective tax rate of 21%. For 2019, Nirvana Industries had capital expenditures of $1.0 million to purchase manufacturing equipment and invested $850,000 in net working capital. What were the net (total) cash flows for Nirvana Industries in 2019? Round your answer to the nearest hundredth of million $
Broussard Company reported net income of $3.5 million in 2020. Depreciation for the year was $520,000, accounts receivable increased $500,000, and accounts payable increased $300,000. Compute net cash flow from operating activities using the indirect method.
Blossom Company reported net income of $173,510 for 2022. Blossom Company also reported depreciation expense of $36,350 and a loss of $5,320 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,990 for the year, a $17,520 increase in accounts payable, and a $3,960 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blossom CompanyPartial Statement of Cash FlowsChoose the accounting periodSelect an opening section nameSelect an item$Enter a dollar amountAdjustments to reconcile net income toSelect an opening name for subsectionSelect an item$Enter a dollar amountSelect an itemEnter a dollar amountSelect an itemEnter a dollar amountSelect an itemEnter a dollar amountSelect an itemEnter a dollar amountEnter a total amount for this…
The following data were taken from the Statement of Cash Flows of Department JKL for the year ended December 31, 2020: Excess of income over expenses 600,000, Depreciation-Machinery P6,000, Increase in accounts payable P40,000, Increase in Due to BIR P6,000, Increase in Due from NGA P55,000, Increase in Office Supplies inventory 25,000. What is the Net Cash Provided by Operating Activities on December 31, 2020?
The financial statements showed the following: Operating income $2,750,000, Depreciation $1,350,000, Expenditures on fixed assets and net operating working capital $860,000. Tax rate is 35%. Compute for the free cash flow.
The following information is available for Bernard Corporation for 2019: Net income $185,200 Decrease in accounts receivable 8,300 Increase in inventory 19,900 Decrease in prepaid rent 4,410 Increase in salaries payable 7,100 Decrease in income taxes payable 3,870 Increase in notes payable (due 2023) 50,000 Depreciation expense 52,700 Loss on disposal of equipment 6,450 Required: Compute the net cash flows from operating activities using the indirect method.