Question
The following information was provided by Pauls Guitar Shop Net Income $12,950 Depreciation Expense $2000 Increase Accounts receivable $300 Increase Inventory $3,800 Increase Prepaid expenses
The following information was provided by Pauls Guitar Shop
Net Income $12,950
Depreciation Expense $2000
Increase Accounts receivable $300
Increase Inventory $3,800
Increase Prepaid expenses $1,000
Decrease Accounts payable $9,000
Increase Accrued expenses and unearned revenues $1,450
Purchase of property and equipment $101,000
Using the indirect method, calculate the net cash provided by operating activities
Pauls Guitar Shop Statement of Cash Flows For year ended December 31, 2019 | ||
Cash flows from operating activities | $ | $ |
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Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash |
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Depreciation expense |
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Changes in current assets and liabilities |
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Net Cash provided by operating activities |
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