edugen.wileyplus.com WleyPLUS WileyPLUS: MywilleyPLus 1 Help 1 Contac FINANCIAL

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edugen.wileyplus.com WleyPLUS WileyPLUS: MywilleyPLus 1 Help 1 Contac FINANCIAL ACCOUNTING (A Kimmel, Accounting, 6e Gradebook ORION Dewnloadable eTextbook CALCULATOR ,ULL SCREEN PR?NTER VERSION ·BA Exercise 12-4 The current sections of Pina Colada Corp.'s baie ce shee at December $29,565 31, 2016 and 2017, are presented here. Pina Colada Corp's net income for 2017 was $167,535. Depreciation expe 2017 2016 Current assets 108,405 97,455 188,340 24,090 418,290 1 Cash Accounts receivable Ieventory Prepaid expensey $114,975 87,600 183,960 29,565 416,100 Total current assets Current liabilities 16,425 93,075 5,475 100,740 106,215 Accrued expenses payable Accounts payable Total current Sabilities 109,500 Prepare the net ash provided used) by operating activities section of the company's statement of cash that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) o s for the year ended December 31, 201, using the ndrect method. Show Pina Colada Corp Partial Statement of Cash Plows 0 hky 1 ?.2000-2018Johny leyh Sonsls. Ai Rights Reserved. A Division of John yener Sons.1nc. 0

Explanation / Answer

PINA COLADA CORP Partial Cash Flow Statement   For the year ended December 31, 2017 Cash flows from operating activities Net Income $ 167,535 Adjustment to reconcile net income to: Depreciation expense $ 29,565 Decrease in accounts receivable $    9,855 Decrease in inventory $    4,380 Increase in prepaid expenses $ (5,475) Increase in accrued expenses payable $ 10,950 Decrease in accounts payable $ (7,665) $    41,610 Net cash flow from operating activities $ 209,145

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