Gutierrez Company reported net income of $193,300 for 2017. Gutierrez also repor

Question

Gutierrez Company reported net income of $193,300 for 2017. Gutierrez also reported depreciation expense of $47,400 and a loss of $6,300 on disposal of the equipment. The comparative balance sheet shows a decrease in accounts receivable of $16,600 for the year, a $18,600 increase in accounts payable, and a $3,800 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) GUTIERREZ COMPANY Partial Statement of Cash Flows Adjustments to reconcile net income to

Explanation / Answer

Partial Statement of cash flow for the year 2017 Cash flow from operating activities net income for the year 193,300 Adjustments to reconcile net income to Cash flow from operating activities Depreciation expense 47,400 loss on disposal of Equipment 6,300 Decrease in accounts receivable 16,600 increase in accounts payable 18,600 decrease in prepaid expense -3,800 85,100 Net cash provided by operating activities 278,400

Related Questions

Navigate

• Browse (All)
• Browse G
• Subjects

---

---

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