The current sections of Riverbed Corp’s balance sheets at December 31, 2021 and 2022, are presented here. Riverbed Corp’s net income for 2022 was $355,600. Depreciation expense was $58,800. 2022 2021 Current assets Cash $86,800 $ 124,600 Accounts receivable 119,000 96,600 Inventory 109,200 86,800 Prepaid expenses 23,800 26,600 Total current assets $338,800 $334,600 Current liabilities Accrued expenses payable $ 8,400 $ 22,400 Accounts payable 123,200 100,800 Total current liabilities $131,600 $ 123,200 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method.
The current sections of Riverbed Corp’s balance sheets at December 31, 2021 and 2022, are presented here. Riverbed Corp’s net income for 2022 was $355,600. Depreciation expense was $58,800. 2022 2021 Current assets Cash $86,800 $ 124,600 Accounts receivable 119,000 96,600 Inventory 109,200 86,800 Prepaid expenses 23,800 26,600 Total current assets $338,800 $334,600 Current liabilities Accrued expenses payable $ 8,400 $ 22,400 Accounts payable 123,200 100,800 Total current liabilities $131,600 $ 123,200 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 25CE
Related questions
Question
The current sections of Riverbed Corp’s balance sheets at December 31, 2021 and 2022, are presented here. Riverbed Corp’s net income for 2022 was $355,600.
|
2022
|
2021
|
|||
|---|---|---|---|---|
|
Current assets
|
||||
|
Cash
|
$86,800
|
$ 124,600
|
||
|
|
119,000
|
96,600
|
||
|
Inventory
|
109,200
|
86,800
|
||
|
Prepaid expenses
|
23,800
|
26,600
|
||
|
Total current assets
|
$338,800
|
$334,600
|
||
|
Current liabilities
|
||||
|
Accrued expenses payable
|
$ 8,400
|
$ 22,400
|
||
|
Accounts payable
|
123,200
|
100,800
|
||
|
Total current liabilities
|
$131,600
|
$ 123,200
|
Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2022, using the indirect method.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning