Question: The comparative balance sheets for Kingbird, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $78,900, prepaid expenses increased $24,900, and
The comparative balance sheets for Kingbird, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $78,900, prepaid expenses increased $24,900, and inventories increased $40,100. Compute net cash provided by operating activities using the indirect method, assuming that net income is $225,100. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Kingbird, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to $ +A +A $ $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
