Edit View 4 100 Tue Acct 1090 V0850 2018WI A Kyle Maisano 1

Edit View 4:) 100% Tue Acct 1090 V0850 2018WI (A) Kyle Maisano 1 1/W Homework: Week #1 Chapter #1 Score: 0 of 1 pt 2of5(1 complete) HW Score: 209 E16-19 (similar to) Question The records of Rainbow Color Engraving reveal the following: Net income Sales revenue Loss on sale of land Acquisition of land s 36,000 Depreciation expense 12,000 22,000 9,000 50,000 Deorease in current labilities ,000 Increase in current assets other than cash 40,000 cash flows from operating activites by the indirect method for year ended December 31, 2016, (Use parentheses or a minus sign for numbers to b subtracted and to show net cash used for operating activises. If a box is not used in the table, lo ve the bo. empty, do ne seed a labo areer a zero) Rainbew Color Engraving Statement of Cash Flows (Partial Year Ended December 31, 2016 Cash Flows from Operating Activities: Net Income Adjustments to Reconcle Net Income to Net Cash Provided by (Used for) Operating Activides: Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear Al Check Answer

Solution

Rainbow Color Engraving Statement of Cash Flows (Partial) For the Year ended Dec 31, 2016 Cash Flow from opearating activities: Net Income (Loss)              36,000 Add/(Less) non cash effects on operating activities Depreciation expense                  12,000 Loss on sales of Land                    4,000 Increase in Current Assets other than Cash                  (9,000) Decrease in Current Liabilities               (22,000)           (15,000) Net Cash provided by operating activities              21,000