Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i cant figure out the rest in red ? The current sections of Kingbird, Incalance sheets at December 31, 2019 and 2020, arep ted here.
i cant figure out the rest in red ? The current sections of Kingbird, Incalance sheets at December 31, 2019 and 2020, arep ted here. Kingbird's net income for 2020 was $153,600. Depreciation expense was $23,500. 2019 2018 Current assets Cash $98,100 Accounts receivable $104,600 108,900 158,600 26,400 Inventory 80,100 171,400 25,100 Prepaid expenses Total current assets $398,500 $374,700 Current liabilities Accrued expenses payable Accounts payable $14,600 $9,600 85,200 95,500 $99,800 $105,100 Total current liabilities Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, 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).) Kingbird, Inc. Partial Statement of Cash F For the Year Ended December 31, 20 Cash Flows from Operating Activities Kingbird, Inc. Partial Statement of Cas For the Year Ended December 31, 2019 Cash Flows from Operating Activities Net Income 153,600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities y .[ Depreciation Expense Increase in Accounts Receivable Decrease in Inventory Increase in Prepaid Expenses 1300 Increase in Accrued Expenses Payable 5.000 Decrease in Accounts Payable 10,300 58500 Net Cash Used by Operating Activities 212100 10:38 PM A 4 40 5 /10/2020
i cant figure out the rest in red ?
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