The current sections of Oriole Company's balance sheets at December 31, 2016 and 2019, are presented here. Oriole's net income for 2019 was $150,500. Depreciation expense was $25,000. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2019 $107,500 $97,200 108,300 77,200 159,000 172,100 26,200 25,000 $401,000 $371,500 $14,400 65,700 $100,100 2018 $0,100 95,900 $104,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2019, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis e.g. (15,000)) Adjustments to reconcile net income to Oriole Company Partial Statement of Cash Flows $

The current sections of Oriole Company's balance sheets at December 31, 2016 and 2019, are presented here. Oriole's net income for 2019 was $150,500. Depreciation expense was $25,000. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2019 $107,500 $97,200 108,300 77,200 159,000 172,100 26,200 25,000 $401,000 $371,500 $14,400 65,700 $100,100 2018 $0,100 95,900 $104,000 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2019, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis e.g. (15,000)) Adjustments to reconcile net income to Oriole Company Partial Statement of Cash Flows $

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 24CE

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Subject: acounting
The current sections of Vaughn Inc's balance sheets at December 31, 2019 and 2020, are presented here. Vaughn's net income for 2020 was $214,500. Depreciation expense was $48,000. Current assets Cash Accounts receivable Inventory Prepaid expense Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2020 2019 128.000 $126.500 $110,500 100.500 165,500 195,000 50,000 32,500 $470,000 $438.500 $38,000 $16.500 96,500 116,000 $134,500 $132,500 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2020, using the indirect method. (Show amounts that decrease cash flow with either a sign eg-15,000 or in parenthesis eg. (15,000)) VAUGHN INC. Partial Statement of Cash Flows
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