The current sections of Putzier Inc.\'s balance sheets at December 31, 2011 and

Question

The current sections of Putzier Inc.'s balance sheets at December 31, 2011 and 2012, are presented here. Putzier's net income for 2012 was $153,000. Depreciations expense was $27,000. 2012 2011 Current assets Cash $105,000 $99,000 Accounts receivable $ 80,000 $89,000 Inventory $168,000 $172,000 Prepaid expenses $ 27,000 $22,000 Total current assets $380,000 $382,000 Current Liabilities Accrued expenses payable $15,000 $5,000 Accounts payable $85,000 $92,000 Total current liabilities $100,000 $97,000 **Prepare the net cash provided be operating activities section of the company's statement of cash flows for the year ended December 31,2012, using the indirect method.

Explanation / Answer

Net Income $152,790 Plus: Depreciation 24,430 Increase in Accrued Expense 9,730 Decrease in Inventory 13,460 Less: Increase in Accounts Receivable (20,950) Increase in Prepaid Expense (4,700) Decrease in Accounts Payable (7,040) Net Cash Provided (Used) by Operating Activities $167,720 Good Luck and Have a Nice Day!

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.