Scranton, Inc. reports net income of $260,000 for the year ended December 31. It also reports $100,700 depreciation expense and a $6,500 gain on the sale of equipment. Its comparative balance sheet reveals a $41,500 decrease in accounts receivable, a $18,750 increase in accounts payable, and a $14,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.

$399,950

Explanation:

The computation of cash provided (used) in operating activities using the indirect method is shown below:-

Cash flow from operating activities

Net income reported           $260,000

Add:  depreciation expenses  $100,700

Less: gain on sale of equipment -$6,500

Add: decrease in accounts receivables $41,500

Add:  increase in accounts payable $18,750

Less: decrease in wages payable -$14,500

Cash flow from operating activities $399,950

We simply added the cash inflows and deduct the cash outflows to reach out the operating activities

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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