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i am needing help on this Accounting problem. Cash Flows from Operating Activities ---Indirect Method Cash The net income reported on the income statement for
i am needing help on this Accounting problem. Cash Flows from Operating Activities ---Indirect Method Cash The net income reported on the income statement for the current year was $154,700. Depreciation recorded on store equipment for the year amounted to $25,500 Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year $63,270 $57,580 Accounts receivable (net) 45,360 42,550 Inventories 61,940 64,780 Prepaid expenses 6,960 5,470 Accounts payable (merchandise creditors) 59,280 54,470 Wages payable 32,390 35,580 a. Prepare the "Cash flows from operating activities" section of the statement of cash flows, using the Indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments a. Prepare the "Cash flows from operating activities' section of the statement of cash flows, using the Indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities of accounting. For example revenues are recorded on b. Cash flows from operating activities differs from net income because it does not use the the income statement when
i am needing help on this Accounting problem.
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