Oriole Company reported net income of $1.8 million in 2017. Depreciation for the year was $158,800, accounts receivable decreased $377,500, and accounts payable decreased $300,700. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Oriole Company Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities + Decrease in Account Receivable + 377500 Decrease in Account Payable (300700) Depreciation Expense 158800 Net Cash Provided by Operating Activities
Oriole Company reported net income of $1.8 million in 2017. Depreciation for the year was $158,800, accounts receivable decreased $377,500, and accounts payable decreased $300,700. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Oriole Company Statement of Cash Flows-Indirect Approach For the Year Ended December 31, 2017 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities + Decrease in Account Receivable + 377500 Decrease in Account Payable (300700) Depreciation Expense 158800 Net Cash Provided by Operating Activities
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter16: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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