Exercise 13-5 Your answer is partially correct. Try again The current sections o

Question

Exercise 13-5 Your answer is partially correct. Try again The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017, are presented here Scoggin's net income for 2017 was $154,700. Depreciation expense was $23,300 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $102,700 109,400 158,200 $97,700 80,000 173,000 26,90025,900 $376,600 Total current assets $397,200 Current liabilities Accrued expenses payable Accounts payable $15,000 84,000 $99,000 $9,300 95,600 $104,900 Total current liabilities

Explanation / Answer

Calculate net cash flow from operating activities :

Cash flow from operating activities Net income 22400 Adjustment to reconcile net income to Cash flow from operating activities Depreciation expense 4800 Loss on sale of land 1100 Decrease account receivable 1900 Decrease account payable -15500 -7700 Net cash flow from operating activities 14700 Cash flow from investing activities Sale of land 4500 Net cash flow from investing activities 4500 Cash flow from financing activities Issue common Stock 700 Dividend paid -15000 Net cash flow from financing activities -14300 Net cash flow 4900 Beginning cash 10200 Ending cash 15100

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