Question
The net income for Swifty Co. for 2022 was $320,400. For 2022, depreciation on plant assets was $71,800, and the company incurred a loss on
The net income for Swifty Co. for 2022 was $320,400. For 2022, depreciation on plant assets was $71,800, and the company incurred a loss on disposal of plant assets of $14,400. 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).)
Swifty Co. Statement of Cash Flows-Indirect Method choose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022 | ||
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select an opening section name 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 | ||
select an item Depreciation ExpenseNet IncomeLoss on Disposal of Plant AssetsDecrease in Accounts ReceivableGain on Disposal of Plant Assets | $enter a dollar amount | |
Adjustments to reconcile net income to | ||
select a subsection name 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 | ||
select an item Loss on Disposal of Plant AssetsGain on Disposal of Plant AssetsDecrease in Accounts ReceivableNet IncomeDepreciation Expense | $enter a dollar amount | |
select an item Gain on Disposal of Plant AssetsDepreciation ExpenseDecrease in Accounts ReceivableLoss on Disposal of Plant AssetsNet Income | enter a dollar amount | |
enter a subtotal of the adjustments | ||
select a closing section name 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 | $enter a total amount for the section |
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