Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

9) pls help asap! thanks Current Attempt in Progress The income statement of Concord Company is presented here. Additional information: 1. Accounts receivable decreased $370,500

9) pls help asap! thanks image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Current Attempt in Progress The income statement of Concord Company is presented here. Additional information: 1. Accounts receivable decreased $370,500 during the year, and inventory decreased $384,900, 2. Prepaid expenses increased $165,200 during the year: 3. Accounts payable to suppliers of inventory decreased $337,700 during the year. 4. Accrued expenses payable decreased $105,400 during the year. 5. Administrative expenses include depreciation expense of $92,900. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2022, for Concord Company. using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000). CONCORD COMPANY Statement of Cash Flows (Partial) - Indirect Method For the Year Ended November 30,2022 ; Conh Flows from Operating Activities Net incorve $ Adjustments to reconcile net income to Net Cosh Provided by Operating Activities : Depreciation Expense $ Decrease in Accounts Receivable Increase in Prepaid Expenses Decrese in Accounts Receivabie Decrease in inventory Net CashProvacd W Operating Actwies: Deprecistion Expene $ Decrease in Accounts Recelvable Increase in Prepsid Expenses Decrease in Accounts Receivable Decrease in irventory Net Cash Provided by Operating Activities : $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Risk Management In Organisations An Integrated Case Study Approach

Authors: Margaret Woods

2nd Edition

1138632333, 9781138632332

More Books

Students also viewed these Accounting questions

Question

What is the role of automation in J-I-T?

Answered: 1 week ago