Weygandt, inancial Accounting. 100 PRINCIPLES OF ACCOINTING (ACCT 210) ianment 2

Question

Weygandt, inancial Accounting. 100 PRINCIPLES OF ACCOINTING (ACCT 210) ianment 2Sheffieid Corp, reported net income of $193,300 for 2019.Sheeld orted depreciation expence of 945,100 and a los of $6,300 on the dipnal of glast aets. The blance dwe show'?decrease in accorto receivable ? S19,600 t-the year, a$21.100 increase in acounts parali, and a1.400 derrane in prepaid eeeos Prepare the operating activities section of the statoment of cash iows for 209 Un the ndrect methed. (Show amounts thet dlecrmase cash flew with althor as OA

Explanation / Answer

Statement of Cash Flows

For the Year Ended December 31, 2019

Cash Flows from Operating Activities:

Net income 193100

Adjustments to reconcile net income to

Net cash provided by operating activities

Depreciation expense 45100

Loss in disposal of plant assets 6300

Decrease in Accounts receivable 19600

Decrease in prepaid expenses 3400

Increase in accounts payable 21600

96000

Net cash provided by operating activities 289100

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