Answered: Reporting Net Cash Flow from Operating…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 5E: Cash flows from operating activitiesindirect method The net income reported on the income statement...

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Question

Reporting Net Cash Flow from Operating Activities

The following information is available for Cornelius Inc.:

Selected Income Statement Information	Amount
Net income	$52,000
Depreciation expense	11,300

Selected Balance Sheet Information	Beginning Balance	Ending Balance
Accounts receivable	$11,500		$17,650
Inventory	33,800		27,825
Accounts payable	15,900		24,600

Required:

Prepare the net cash flows from operating activities using the indirect method. Use a minus sign to indicate any decreases in cash or cash flows.

Cornelius Inc.Net Cash Flows from Operating ActivitiesUsing Indirect Method

Cash flows from operating activities:
	$- Select -
Adjustments to reconcile net income to net cash flow from operating activities:
	$- Select -
	- Select -
	- Select -
	- Select -
Net cash provided by operating activities		$fill in the blank 11

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