Question
A corporation is preparing a statement of cash flow. Complete the following part of it in the spaces provided (be sure to indicate + or
A corporation is preparing a statement of cash flow. Complete the following part of it in the spaces provided (be sure to indicate + or -):
Operating Activities: Amount
Net income (accrual), $45,000 $__________
Adjustments to convert net income to cash from
Operating activities:
Depreciation expense, $6,000 $__________
Decrease in accounts receivable balance, $2,000 $__________
Decrease in accrued wages payable, $1,000 $__________
Amortization of patent, $500 $__________
Increase in inventory balance, $4,000 $__________
Decrease in accounts payable balance, $1,500 $__________
Net cash inflow (outflow) from operations $__________
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started