gimmernSessionLocator-assignment-take&tinprogress-false; eBook Show Me How Cash

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gimmernSessionLocator-assignment-take&tinprogress-false; eBook Show Me How Cash flows from operating activities-indirect method Calculator Print Item Amount Descriptions Statement of Cash Flows-Operating Activities Instructions The net income reported on the income statement for the current year was $334,100. Depreciation recorded on equipment and a building amounted to $101,710 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable End of Year $90,280 111,780 223,470 12,870 96,330 15,720 Beginning of Year $96,010 118,690 206,830 14,850 103,900 13,840 Check My work 2 more Check My Work uses remaning Check My Work

Explanation / Answer

Statement of cash flow (partial) cash flows from operating activities Net income for the year 334,100 adjustments to reconcile net income to net cash flow from operating activitie depreciation expense 101,710 change in current operating assets and liabilities: decrease in account receivable 6,910 increase in inventories -16640 decrease in prepaid expense 1980 decrease in accounts payable -7570 increase in salaries payable 1880 88,270 Cash flows from operating activities 422,370 b) No,net cash flow from operating activities will be same

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