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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The current sections of Riverbed Corp’s
|
2022
|
2021
|
|||
|---|---|---|---|---|
|
Current assets
|
||||
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Cash
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$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
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