Ch15 HW Saved Help Save & Exit Submit Check my work 1 For the year just completed, Hanna Company had net income of $66,500. Balances in the company's current asset and current liability accounts at the beginning and end of the year were as follows: 2 points December 31 End of Beginning Year of Year $ 61,000$ 80,000 $160.000 $200,000 $430,000 $343,000 $ 11,500 $ 14,000 eBook Current assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable Hart $352,000 $392,000 $ 8,500 $ 11,500 $ 35,000 $ 27,000 References The Accumulated Depreciation account had total credits of $48,000 during the year Hanna Company did not record any gains or losses during the year. Required: Using the Indirect method, determine the net cash provided by operating activities for the year. (List any deduction in cash and cash outflows as negative amounts.) Hanna Company Statement of Cash Flows-Indirect Method (partial Net Income Adjustments to convert net income to a cash basis Decrease in accounts receivable ME SO HA CH Ch15 HW Saved Help Save & Exit Submit Check my work 1 The Accumulated Depreciation account had total credits of $48,000 during the year. Hanna Company did not record any gains or losses during the year, 2 points Required: Using the indirect method, determine the net cash provided by operating activities for the year. (List any deduction in cash and cash outflows as negative amounts.) eBook Hint Print References Hanna Company Statement of Cash Flows-Indirect Method (partial) Net Income Adjustments to convert net income to a cash basis: Decrease in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Decrease in accrued liabilities Increase in income taxes payable Depreciation Increase in prepaid expenses Net cash provided by operating activities 0 $ 1 of 3 Prev Mc Graw All Next >