MESSAGE HY INSTRUCTOR FULL OREEN: P OURCES work 7-1 Exercise 17-5 The current se

Question

MESSAGE HY INSTRUCTOR FULL OREEN: P OURCES work 7-1 Exercise 17-5 The current sections of Scoggin Inc.'s balance sheets at December 31, 2016 and 2017, are presented here Scogain's net income for 2017 was $1s0,900. Depreciation expense was $23,200. T . 2017 2016 Current assets Cash Accounts receivable Inventory Prepaid expenses $107,500$98,200 80,700 172,400 25,200 $376,500 y Study 108,600 158:300 26,700 401.100s Total current assets Current liabilities Accrued expenses payable Accounts payable $16,000 64,300 $8,100 95,600 Total current liabilities $100,300 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31/ 2017 using amounts that decrease cash flow with either a sign e.g. -15,000 or in parenthesis e.g. (15,000).) SCOGGIN INC Partial Statement of Cash Flows

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Answer:-

Scoggin Inc's Statement of Cash Flow (Using Indirect Method) Particulars Amount $ Net Income 150900 Adjustments to reconcile net income to net cash provided by opreating activities Adjustment for non cash effects Depreciation 23200 Change in opreating assets & liabilities Increase in Accounts Receiviable -27900 Decrease in Inventory 14100 Increase in Prepaid expenses -1500 Increase in Accrued expenses payable 7900 Decrease in Accounts payable -11300 Net cash flow from opreating activities 155400

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