Reporting Net Cash Flow From Operating Activities The Following information is a

Question

Reporting Net Cash Flow From Operating Activities

The Following information is available for Bernard Corporation for 2013:

Net Income                                             $185,200

Decrease In Accounts Receivable           8,300

Increase in Inventory                               19,900

Decrease in Prepaid Rent                       4,410

Increase in Salaries Payable                  7,100

Decrease in Income Taxes Payable     $3,870

Increase in Notes Payable (due 2017)   50,000

Depreciation Expense                           52,700

Loss on Disposal of Equipment              6,450

Compute the net cash flows from operating activities using the indirect method:

Explanation / Answer

Statement of Cash Flow Particulars Amount Total Amount Income             185,200.00 Loss on Disposal of Equipment                  6,450.00 Depreciation                52,700.00 Decrease in AR                  8,300.00 Increase in inventory             (19,900.00) Decrease in prepaid rent                  4,410.00 Decrease in income tax payable                (3,870.00) Increase in Salaries Payable                  7,100.00 Cash flow from operating activities           240,390.00

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