Software Distributors reports net income of $52,000. Included in that number is depreciation expense of $8,500 and a loss on the sale of land of $4,700. A comparison of this year's and last year's balance sheets reveals a decrease in accounts receivable of $22,000, a decrease in inventory of $13,500, and an increase in accounts payable of $42,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any lecrease in cash as negative amounts.) SOFTWARE DISTRIBUTORS Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities

Software Distributors reports net income of $52,000. Included in that number is depreciation expense of $8,500 and a loss on the sale of land of $4,700. A comparison of this year's and last year's balance sheets reveals a decrease in accounts receivable of $22,000, a decrease in inventory of $13,500, and an increase in accounts payable of $42,000. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any lecrease in cash as negative amounts.) SOFTWARE DISTRIBUTORS Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 13.2BE: Adjustments to net incomeindirect method Ripley Corporations accumulated depreciationequipment...

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