Ash Company reported cost of goods sold of $875,000 for the year. Ash has also provided...
Ash Company reported cost of goods sold of $875,000 for the year. Ash has also provided the following information: Ash prepares its statement of cash flows using the indirect method
| Inventory | Accounts Payable | |
| Balance - beginning of year | 69,000 | 107,000 |
| balance - end of year | 83,000 | 92,000 |
What amount of cost of goods sold should Ash report as a supplement disclosure of cash flow information
- A.
14,000
- B.
15,000
- C.
889,000
- D.
904,000
-
Martin Co. had net income of $110,000 during the year. Amortization expense was $15,000. The following information is available
Accounts receivable decrease 22,000 Stock sale loss 12,000 Nontrade notes payable decrease 32,000 Prepaid insurance increase 9,000 Accounts payable decrease 17,000 What amount should Martin report as net cash provided by operating activities in its statement of cash flows for the year?
- A.
167,000
- B.
101,000
- C.
118,000
- D.
133,000
Homework Answers
1. Your required answer is option D i.e. $904,000
Explanation:
2. Your required answer is option B i.e. $101,000
Explanation:
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