Question: The comparative balance sheets for Windsor, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $74,000, prepaid expenses increased $22,000, and inventories
The comparative balance sheets for Windsor, Inc. show these changes in noncash current asset accounts: accounts receivable decreased $74,000, prepaid expenses increased $22,000, and inventories increased $34,000. Compute net cash provided by operating activities using the indirect method, assuming that net income is $180,000. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Compute net cash provided by operating activities using the indirect method, assuming that net income is $180,000. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000).) Windsor, Inc. Statement of Cash Flows-Indirect Method Cash Flows from Operating Activities Net Income $ 180000 Adjustments to reconcile net income to Net Cash Provided by Operating Activities Decrease in Accounts Receivable $ 74,000 Increase in Prepaid Expenses (22000) Increase in Inventories (34000) Net Cash Provided by Operating Activities
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