The comparative balance sheets for Oriole Company show these changes in noncash current asset accounts: accounts...
The comparative balance sheets for Oriole Company show these changes in noncash current asset accounts: accounts receivable decreased $87,000, prepaid expenses increased $35,000, and inventories increased $47,000. Compute net cash provided by operating activities using the indirect method, assuming that net income is $193,000.
Homework Answers
Solution
Net cash provided by operating activities= $198,000
Working
| Cash flows from operating activities: | ||
| Net income | $ 1,93,000.00 | |
| Adjustments to reconcile net income to net cash flow from operating activities: | ||
| Decrease in accounts receivables | $ 87,000.00 | |
| Increase in Inventory | $ (47,000.00) | |
| Increase in prepaid expense | $ (35,000.00) | |
| $ 5,000.00 | ||
| Net cash flow from operating activities | $ 1,98,000.00 |
I have assumed there is no Depreciation or other adjustments. If there are please let me know by a comment.
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receivable
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55,800
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