Klutz Dance Studio had net income of $207,000 for the year just ended. Klutz col
ID: 2501132 • Letter: K
Question
Klutz Dance Studio had net income of $207,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:
Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided (used) by operating activities?
$125,000
$159,000
$259,000
$269,000
Klutz Dance Studio had net income of $207,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:
Explanation / Answer
Statement of cash flows of Klutz using Indirect method
Net cash provided (used) by operating activities: Amount
Net income for the year just ended $207,000
Add: Decrease in accounts receivable 34,000
Increase in accounts payable 21,000
Depreciation expense 7,000
Net cash from operating activities = $269,000
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.