Blossom Company prepared the tabulation below at December 31, 2022 Net Income=$307,100 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense=$32,100 Decrease in accounts receivable=$50,100 Increase in inventory=$12.100 Decrease in accounts payable=$8,700 Increase in income taxes payable:$1,600 Loss on sale of land=$5,100 Net cash provided (used) by operating activities
Blossom Company prepared the tabulation below at December 31, 2022 Net Income=$307,100 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense=$32,100 Decrease in accounts receivable=$50,100 Increase in inventory=$12.100 Decrease in accounts payable=$8,700 Increase in income taxes payable:$1,600 Loss on sale of land=$5,100 Net cash provided (used) by operating activities
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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Blossom Company prepared the tabulation below at December 31, 2022
Net Income=$307,100
Adjustments to reconcile net income to net cash provided by operating activities
Decrease in
Increase in inventory=$12.100
Decrease in accounts payable=$8,700
Increase in income taxes payable:$1,600
Loss on sale of land=$5,100
Net cash provided (used) by operating activities
Transcribed Image Text:Net Cash Provided by Operating Activities
Loss on Sale of Land
Increase in Prepaid Expenses
Decrease in Prepaid Expenses
Increase in Income Taxes Payable
Increase in Inventory
Decrease in Inventory
Net Income
Decrease in Accounts Payable
Increase in Accounts Payable
Decrease in Income Taxes Payable
Net Cash Used by Operating Activities
Increase in Accounts Receivable
Depreciation Expense
Decrease in Accounts Receivable
Transcribed Image Text:Show how each item should be reported in the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g.
-15,000 or in parenthesis e.g. (15,000).)
Net Income
Adjustments to reconcile net income to
BLOSSOM COMPANY
Partial Statement of Cash Flows
Net Cash Provided by Operating Activities V:
Decrease in Accounts Receivable
Increase in Inventory
Decrease in Accounts Payable
Increase in Income Taxes Payable
Loss on Sale of Land
Net Cash Used by Operating Activities
>
>
>
tA
307,100
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