Homework Answers
Answer:-
The Operating Activities section of statement of cash flows are as follows :-
| Statement of Cash Flows ( partial ) | |
|---|---|
| Cash flows from Operating Activities | |
| Net income | $626,184 |
| Adjustments to reconcile net income to net cash provided by operating activities | |
| Income statement items not affecting cash | |
| Add :- Depreciation Expense | $48,168 |
| Add :- Amortization Expense - Patent | $6,021 |
| Less :- Gain on sales of Equipment | ($8,028) |
| Change in current operating assets and liabilities | |
|
Less :- |
|
| Increase in Account Receivable | ($40,650) |
| Increase in Inventory | ($39,925) |
| Decrease in Account Payable | ($10,900) |
| Decrease in Salaries Payable | ($2,600) |
| Net Cash flow from Operating activities | $578,270 |
To find out Operating Activities we will add or deduct operating assets and liabilities Activities from Net income .
Explanation:-
Here we have less the Gain on sales of Investment but if there is loss on sales of investment is given then we should add it to net income.
If there , Increase in asset - it would less
Decrease in assets - it would be added
Increase in liabilities - it would be added
Decrease in liabilities - it would be less from net income.
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