Wildhorse Company prepared the tabulation below at December 31, 2022. Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Increase in income taxes payable Loss on sale of land Net cash provided (used) by operating activities $309,200 $34,200 $52,200 $14,200 $10,800 $3,700 $7,200 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).)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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I was hoping you can help me place the items in the right categories. 

Wildhorse Company prepared the tabulation below at December 31, 2022.
Net Income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense
Decrease in accounts receivable
Increase in inventory
Decrease in accounts payable
Increase in income taxes payable
Loss on sale of land
Net cash provided (used) by operating activities
$309,200
WILDHORSE COMPANY
Partial Statement of Cash Flows
$34,200
$52,200
$14,200
$10,800
$3,700
$7,200
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).)
Transcribed Image Text:Wildhorse Company prepared the tabulation below at December 31, 2022. Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Decrease in accounts receivable Increase in inventory Decrease in accounts payable Increase in income taxes payable Loss on sale of land Net cash provided (used) by operating activities $309,200 WILDHORSE COMPANY Partial Statement of Cash Flows $34,200 $52,200 $14,200 $10,800 $3,700 $7,200 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
Depreciation Expense
Decrease in Accounts Receivable
Increase in Accounts Receivable
Decrease in Inventory
Increase in Inventory
Decrease in Accounts Payable
Increase in Accounts Payable
Net Cash Provided by Operating Activities
Net Cash Used by Operating Activities
Increase in Prepaid Expenses
Decrease in Prepaid Expenses
Decrease in Income Taxes Payable
Increase in Income Taxes Payable
Gain on Disposal of Land
Transcribed Image Text:Net Income Depreciation Expense Decrease in Accounts Receivable Increase in Accounts Receivable Decrease in Inventory Increase in Inventory Decrease in Accounts Payable Increase in Accounts Payable Net Cash Provided by Operating Activities Net Cash Used by Operating Activities Increase in Prepaid Expenses Decrease in Prepaid Expenses Decrease in Income Taxes Payable Increase in Income Taxes Payable Gain on Disposal of Land
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