The following information was extracted from the books of ASB Company Limited for the period ending...
The following information was extracted from the books of ASB Company Limited for the period ending December 31st, 2015.
|
Net Income |
1,500,000 |
|
Sales revenue |
500,000 |
|
Loss on sale of land |
120,000 |
|
Acquisition of land |
1,050,000 |
|
Depreciation |
215,000 |
|
Decrease in current liabilities |
455,000 |
|
Increase in current assets and other than cash |
316,000 |
Which of the following is the correct cash flow from operating activities using the indirect method based on the info presented?
Select one:
a. $1,064,000
b. $1,936,000
c. $1,026,000
d. $1,000,000
Homework Answers
| Option A | |||
| Net income | $1,500,000 | ||
| Add: Loss on sale of land | $120,000 | ||
| Add: Depreciation | $215,000 | ||
| Less: Decrease in current liabilites | $455,000 | ||
| Less: increase in current assets | $316,000 | ||
| Net cashinflow from operating activities | $1,064,000 | ||
| Acquisition of land is a part of investing activity hance not considered in the computation | |||
| Also Revenue is not considered because we have taken indirect approach | |||
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SAT 1.2
SAT 1.3
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SAT 1.1
SAT 1.2
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