Genius Inc

question 62

Essay

Genius Inc. uses the indirect method to prepare its statement of cash flows. Using the worksheet shown below, enter the adjustments needed to record Net Income for the year ended December 31, 2014 of $49,000. Panel B-Statement of Cash Flows:
Cash Flows From Operating Activities:
Net Income
Adjustments to Reconcile Net Income to Net
Cash Provided by Operating Activities:
Depreciation Expense-Plant Assets
Gain on Disposal of Plant Assets
Increase/Decrease in Accounts Receivable
Increase/Decrease in Inventory
Increase/Decrease in Accounts Payable
Increase/Decrease in Accrued Liabilities
Net Cash Provided by Operating Activities
Cash Flows from Investing Activities:
Cash Payment for Acquisition of Plant Assets
Cash Receipt From Disposal of Plant Assets
Net Cash Used for Investing Activities
Cash Flows from Financing Activities:
Cash Receipt From Issuance of Notes Payable
Cash Payment of Notes Payable
Cash Receipt from Issuance of Common Stock
Cash Payment for Purchase of Treasury Stock
Cash Payment of Dividends
Net Cash Provided by Financing Activities
Net Increase (Decrease)in Cash
Total

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Definitions:

Interest Group

An interest group is an organization or association that advocates for specific policies or causes, aiming to influence public policy and decision-making processes in its favor.

Political Activity

The activities that relate to influencing the actions and policies of a government or getting and keeping power within a government.

Effective Leadership

The ability of a leader to guide, inspire, and motivate a group or organization towards achieving its goals.

1946 Legislation

Refers to laws and acts passed in the year 1946, which may include significant reforms or changes in policy specific to that period.