Use the following information from Coconut Company's financial statements. Dec. 31, 2018 Dec. 31, 2017 Cash $221,000 $170,000 Accounts Receivable 22,000 21,500 Inventory 34,750 30,500 Prepaid Rent 8,000 2,000 Accounts Payable 18,000 28,750 Additional Information: Net Income $55,000 Depreciation Expense 11,500 Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Coconut Company Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: Net Cash Flow from Operating Activities

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A v2.cengagenow.com
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Use the following information from Coconut Company's financial statements.
Dec. 31, 2018
Dec. 31, 2017
Cash
$221,000
$170,000
Accounts Receivable
22,000
21,500
Inventory
34,750
30,500
Prepaid Rent
8,000
2,000
Accounts Payable
18,000
28,750
Additional Information:
Net Income
$55,000
Depreciation Expense
11,500
Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.
Coconut Company
Partial Statement of Cash Flows (Indirect Method)
For the Year Ended December 31, 2018
Operating Activities:
Net Cash Flow from Operating Activities
(Previous
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Transcribed Image Text:A v2.cengagenow.com nt of Cash F. CengageNOWv2 | Online teaching and le... C CengageNOWv2 | Online teaching and le. RMy Explore | Honey I Print Item A Honey for Safari Use the following information from Coconut Company's financial statements. Dec. 31, 2018 Dec. 31, 2017 Cash $221,000 $170,000 Accounts Receivable 22,000 21,500 Inventory 34,750 30,500 Prepaid Rent 8,000 2,000 Accounts Payable 18,000 28,750 Additional Information: Net Income $55,000 Depreciation Expense 11,500 Prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Coconut Company Partial Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2018 Operating Activities: Net Cash Flow from Operating Activities (Previous Next Check My Work Ouhmit dssienment for Gr
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