Question: The comparative balance sheets for Oriole Company show these changes in noncash current accounts: Accounts Receivable increased $37,600, Prepaid Expenses decreased $13,600, and Inventory decreased

 The comparative balance sheets for Oriole Company show these changes in

The comparative balance sheets for Oriole Company show these changes in noncash current accounts: Accounts Receivable increased $37,600, Prepaid Expenses decreased $13,600, and Inventory decreased $23,900. Accounts payable increased $17,000. Calculate net cash provided by operating activities using the indirect method assuming that profit is $318,000 for the year ended June 30, 2021. Depreciation expense for the year was $33,900 and the company incurred a gain on sale of equipment of $26,500. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) Net cash operating activities $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!