Upgrade to maco Enjoy the Acct 1090 V0850 2018WI A Homework

Upgrade to maco Enjoy the Acct 1090 V0850 2018WI (A) Homework: Week #1 Chapter #1 Score: 0 of 1 pt E16-19 (similar to) The records of Rainbow Color Engraving reveal the following Hw Score: 20%. 20, 5 (1 complete) Question H. Ass D Net income Take Sales revenue 36,000 Deprediation expense 50,000 Decrease in ourrent labilities 12,000 22,000 4,000 Increase in current assets other than cash 0,000 Loss on sale of land Aoquisition of land Compute cash fows from operating activites by t the indirect method for year ended December 31, 2016. (Use parentheses or a minus sign for numbers to be subtracted and to show not cash used for operating activities. I\' a box is not used in the table, leave the box empty. do not select a label or enter a zero) Rainbow Color Engraving Statement of Cash Flows (Partial) Year Ended December 31, 2016 Cash Flows from Operating Activities: 36,000 Net Income Adjustments to Recondile Net Income to Net Cash Provided by (Used for) Operating Activites: Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All

Solution

Rainbow Color Engraving Statement of Cash Flows (Partial) Year Ended December 31, 2016 Cash Fows from Operating Activities: Net Income $36,000 Adjustments to Reconcile Net Income to Net cash Provided by (Used for) Operating Activities: Depreciation expense           12,000 Loss on sale of land              4,000 Increase in current assets other than cash           (9,000) Decresae in current liabilities         (22,000) $       (15,000) Net cash Provided by (used for) Operating activities $         21,000 Note: Increase in current assets and decrease in current liabilities is use of cash.