Exercise 4-15 (Algo) Indirect method; reconciliation of net income to net cash flows from operating activities [LO4-8] The accounting records of Hampton Company provided the data below ($ in thousands). Net income Depreciation expense Increase in accounts $ 19,300 8,000 4,200 receivable Decrease in inventory 5,700 Decrease in prepaid 1,300 insurance Decrease in salaries 2,900 payable Increase in interest 700 payable Required: Prepare a reconciliation of net income to net cash flows from operating activities. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities EA $ 0

Exercise 4-15 (Algo) Indirect method; reconciliation of net income to net cash flows from operating activities [LO4-8] The accounting records of Hampton Company provided the data below ($ in thousands). Net income Depreciation expense Increase in accounts $ 19,300 8,000 4,200 receivable Decrease in inventory 5,700 Decrease in prepaid 1,300 insurance Decrease in salaries 2,900 payable Increase in interest 700 payable Required: Prepare a reconciliation of net income to net cash flows from operating activities. Note: Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands. Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities EA $ 0

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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