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(Solution Download) On December 31, 2014, The Bates Company's revenues total $430,000 and expenses total $320,000...


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

On December 31, 2014, The Bates Company's revenues total

 

$430,000 and expenses total $320,000 before consideration of the

 

following:

 

The income tax

 

rate is 35% of income before income taxes.

What is Bates'

 

net income after consideration of the above information?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$80,600.
$124,000.
$76,700.

 

$110,000.

 

GJ Company, a manufacturer, has provided the following

 

information pertaining to its recent year of operation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A????1 Net income,

 

$400,000

A????1 Accounts

 

payable decreased $32,000

A????1 Prepaid assets

 

increased $21,000

A????1 Depreciation

 

expense was $43,000

A????1 Accounts

 

receivable decreased $31,000

A????1 Loss on sale

 

of a depreciable asset was $21,000

A????1 Wages payable

 

increased $29,000

A????1 Unearned

 

revenue decreased $21,000

A????1 Patent

 

amortization expense was $15,000

 

  

 

 

 

 

 

 

 

Using the

 

indirect method, how much was GJ's net cash provided by operating

 

activities?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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