Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The current sections of Riverbed Corp's balance sheets at December 31, 2021 and 2022, are presented here. Riverbed Corp's net income for 2022 was $355,600.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The current sections of Riverbed Corp's balance sheets at December 31, 2021 and 2022, are presented here. Riverbed Corp's net income for 2022 was $355,600. Depreciation expense was $58,800, 2022 2021 Current assets Cash $86,800 $ 124,600 119,000 96,600 109.200 86,800 23,800 26,600 $338,800 $334,600 Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities $ 22,400 $8,400 123.200 $131,600 100,800 $123,200 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the Indirect method. (Show amounts that decrease cash flow with either a - sign es. -15,000 or in parenthesis eg. (15,000)) Deco Partial Statement of Cash Flows For the Year Ended December 31, 2022 V Cash Flows from Operating Activities Net Incche 355600 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense $ 58800 Increase in Accounts Receivable (22400) Increase in Inventory (22400 Increase in Accounts Payable Decrease in Prepaid Expenses

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

Excise Tax Ozone Depleting Chemicals IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304114279, 978-1304114273

More Books

Students also viewed these Accounting questions