8-9. On December 31, 2018, Pinto Products, Inc. will record $250,000 in depreciation expense for the...
8-9. On December 31, 2018, Pinto Products, Inc. will record $250,000 in depreciation expense for the calendar year 2018.
8. The MOST LIKELY effect on Pinto’s
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Auditor’s Report
9. Will be a (an)
- Increase in Assets
- Decrease in Expenses
- Increase in Equity
- Decrease in Liabilities
Homework Answers
Correct answer for 8 is (c) and 9 is (b)
Recording depreciation expense will decrease the expenses in the cash flow statement.
When we prepare the cash flow statement from indirect method, then we add back the non cash item of depreciation expense in the net income.
Add Answer to:
8-9. On December 31, 2018, Pinto Products, Inc. will record
$250,000 in depreciation expense for the...
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Statement of Cash Flows
For the Year Ended December 31, 20Y8
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Net income
$186,540
Adjustments to reconcile net income to net cash
flow from operating activities:
Depreciation
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Changes in current operating assets and liabilities:
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Increase in inventories
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Decrease in accrued expenses payable
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Net cash flow from
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