*Exercise 12-3 Your answer is partially correct. Try again Bonita Industries rep

Question

*Exercise 12-3 Your answer is partially correct. Try again Bonita Industries reported net income of $185,710 for 2017. Bonita Industries also reported depreciation expense of $33,740 and a loss of $5,230 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $16,450 for the year, a $17,810 increase in accounts payable, and a $3,980 increase in prepaid expenses Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Bonita Industries Partial Statement of Cash Flows or the Year Ended December 31, 2017 et Income 185,710 Adjustments to reconcile net income to et Cash Provided by Operating Activities Depreciation Expense 165078 ncrease in Accounts Receivable 4789 ecrease in Accounts Pay

Explanation / Answer

Cash flows from operating activities Net income 185710 Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense 33740 Loss on disposal of plant assets 5230 Increase in accounts receivable -16450 Increase in prepaid expenses -3980 Increase in accounts payable 17810 36350 Net cash provided by operating activities 222060

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.