Answer:
$608,000
Explanation:
For the indirect method, the below steps are applicable.
Net income $600,000 + Add non cash expense (depreciation) $45,000
= $645,000
We will need to account for changes in assets; which is add sources of cash and subtract use of cash. Therefore, net cash flow from operating activities is ;
= $645,000 + (-$25,000) + (-$12,000)
= $645,000 - $25,000 - $12,000
= $608,000
Note: The above negative signs indicates cash usage which reduces accounts payable and increases accounts receivable.
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Answer:
The remaining useful life of the asset is = 10 - 3 = 7 years
Explanation:
The straight line method of depreciation charges a constant depreciation expense through out the useful life of the asset. The formula for depreciation expense under this method is,
Depreciation expense = (Cost - Salvage value) / Estimated useful life of the asset
Plugging in the values for depreciation expense per year, cost and salvage value, we can calculate the total expected life of the asset.
5000 = (53000 - 3000) / estimated useful life of the asset
estimated useful life of the asset = 50000 / 5000
estimated useful life of the asset = 10 years
As the accumulated depreciation balance is of 15000, the depreciation for 15000/5000 = 3years has been charged.
The remaining useful life of the asset is = 10 - 3 = 7 years
A source document
This document, when coupled with a bill of lading and/or packing list, can be used to invoice a customer, which in turn generates a sale transaction. Supplier invoice. This is a source document that supports the issuance of a cash, check, or electronic payment to a supplier.
