Question
The net income for Bonita Co. for 2022 was $279,900. For 2022, depreciation on plant assets was $68,500, and the company incurred a loss on
The net income for Bonita Co. for 2022 was $279,900. For 2022, depreciation on plant assets was $68,500, and the company incurred a loss on disposal of plant assets of $26,700. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the companys accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Bonita Co. Statement of Cash Flows-Indirect Method For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022 | ||
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Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | ||
Net IncomeLoss on Disposal of Plant AssetsDepreciation ExpenseDecrease in Accounts ReceivableGain on Disposal of Plant Assets | $
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Adjustments to reconcile net income to | ||
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | ||
Depreciation ExpenseDecrease in Accounts ReceivableNet IncomeGain on Disposal of Plant AssetsLoss on Disposal of Plant Assets | $
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Depreciation ExpenseNet IncomeLoss on Disposal of Plant AssetsDecrease in Accounts ReceivableGain on Disposal of Plant Assets |
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Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash | $
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