Answered step by step
Verified Expert Solution
Question
1 Approved Answer
the answers in red are wrong, what do i replace them with? Wildhorse Co. reported net income of $190,100 for 2022. Wildhorse also reported depreciation
the answers in red are wrong, what do i replace them with?
Wildhorse Co. reported net income of $190,100 for 2022. Wildhorse also reported depreciation expense of $49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Statement of Cash Flows (Partial) Indirect Method For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income 190,100 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense $ 49,900 Loss on Disposal of Plant Assets 6,300 Decrease in Accounts Receivable 14,600 Decrease in Prepaid Expenses 4,800 Increase in Accounts Payable 16,600 92,200 Net Cash Provided by Operating Activities $ 282,300Step 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