Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Aug 2017 My Price 9.00

Ya Wen Corporation

Adjustments to net income—indirect   method

Ya Wen Corporation’s accumulated depreciation—equipment account increased by $8,750, while $3,250 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $18,750 from the sale of investments. Reconcile a net income of $175,000 to net cash flow from operating activities.

                              Dec. 31, 2016                    Dec. 31, 2015

 

 

Accounts receivable

$18,000

$14,400

Inventory

34,800

29,700

Accounts payable

27,600

20,700

Dividends payable

8,400

10,800

Adjust net income of $160,000 for changes in operating assets and liabilities to arrive at net cash flow from operating   activities.

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Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 08:08 PM My Price 9.00

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