Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $153,600. Depreciation recorded on store equipment for the year amounted to $25 Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $57,790 42,710 65,010 Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Wages payable $62,820 45,040 61,500 6,910 58,860 32,160 5,490 54,670 35,710 a. Prepare the "Cash flows from operating activities* section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflow cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities: e n uw trom operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities of accounting. For example revenues are recorded o b. Cash flows from operating activities differs from net income because it does not use to the income statement when Previous Next > Check My Work ihmet fordi Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $153,600. Depreciation recorded on store equipment for the year amounted to $25 Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $57,790 42,710 65,010 Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Wages payable $62,820 45,040 61,500 6,910 58,860 32,160 5,490 54,670 35,710 a. Prepare the "Cash flows from operating activities* section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflow cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities Changes in current operating assets and liabilities: e n uw trom operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and liabilities: Net cash flow from operating activities of accounting. For example revenues are recorded o b. Cash flows from operating activities differs from net income because it does not use to the income statement when Previous Next > Check My Work ihmet fordi