Question

The net income reported on the income statement for the current year was $250,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:  What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

Accepted Answer

A)   $271,000
B)   $279,000
C)   $327,000
D)   $256,000E) A) and D)
F) B) and C)

Exam 13: Statement of Cash Flows

Correct Answer
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Exam 13: Statement of Cash Flows

Correct AnswerverifiedShow Answer

Correct Answer
verified