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. | ||||
Waterway Photography reported net income of $174,600 for 2017. Included in the income statement were depreciation...
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13,732, and a galn on disposal of plant assets of $ 12.359 Buffalo in the income statement were depreclation expense of $ 21,628 patent Photography's comparative balance sheets show the following balances 12/31/17 12/31/16 ble $72,093 $92,691 31,584 20,598 Accounts payable the se Calculate net cash provided used by operating activities for Buffalo Photography (15,000)) Showa unts that decrease cash flow with either-拗4 15,000 or in par t of Cash Net Increase in Cash to 0 of