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Waterway Photography reported net income of $174,600 for 2017. Included in the income statement were depreciation expense of
Waterway Photography Statement of Cash Flows Adjustments to reconcile net income to Click if you would like to Show Work for
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Ans. Waterway Photography
Statement of Cash Flows
For the Year ended December 2017
Particulars Amount Amount
Cash flow from operating activities:
Net income $174,600
Adjustments to reconcile Net income to Net cash
provided by (used for) Operating Activities:
Add: Depreciation expenses $11,000
Add: Patent amortization expense $6,984
Less: Gain on disposal of plant assets -$6,286
Add: Decrease in accounts receivable $10,476
Add: Increase in accounts payable $5,587 $27,761
Net cash Provided by Operating Activities $202,361
*Explanations:
*Non cash & Non operating expenses are added to Net income.
*Non cash & Non operating income are deducted from Net income.
*Decrease in current liabilities and Increase in current assets other than cash are added to Net Income.
*Increase in current liabilities and Decrease in current assets other than cash are added to Net Income.
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