A company reports the following: Net income of $96,500. Depreciation Expense of $51,700 Increases in Prepaid Rent $38,000 Increases in Accounts Payable $23,600 Increases in Income Tax Payable of $20,300 Prepare the operating activities section of cash flows using the indirect method. When completed correctly, there will be one blank row above the Net cash flows from operating activities row. (Amounts to be deducted and negative values should be indicated by minus sign.) ELECTRONIC WONDERS Statement of Cash Flows (partial) Cash Flows from Operating Activities Adjustments for noncash effects: Changes in current assets and current liabilities: Net cash flows from operating activities
A company reports the following: Net income of $96,500. Depreciation Expense of $51,700 Increases in Prepaid Rent $38,000 Increases in Accounts Payable $23,600 Increases in Income Tax Payable of $20,300 Prepare the operating activities section of cash flows using the indirect method. When completed correctly, there will be one blank row above the Net cash flows from operating activities row. (Amounts to be deducted and negative values should be indicated by minus sign.) ELECTRONIC WONDERS Statement of Cash Flows (partial) Cash Flows from Operating Activities Adjustments for noncash effects: Changes in current assets and current liabilities: Net cash flows from operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A company reports the following:
Net income of $96,500.
Depreciation Expense of $51,700
Increases in Prepaid Rent $38,000
Increases in Accounts Payable $23,600
Increases in Income Tax Payable of $20,300
Prepare the operating activities section of cash flows using the indirect method. When completed correctly, there will be one
blank row above the Net cash flows from operating activities row. (Amounts to be deducted and negative values should be
indicated by minus sign.)
ELECTRONIC WONDERS
Statement of Cash Flows (partial)
Cash Flows from Operating Activities
Adjustments for noncash effects:
Changes in current assets and current liabilities:
Net cash flows from operating activities
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