Wildhorse Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024:Accounts receivableInventoryPrepaid expensesAccounts payableIncome tax payableDepreciation expenseGain on sale of equipmentProfit for the year2024Net cash$40,800 $61,20064,26071,4004,0802,04035,70040,80016,32051,00046,1002023336,60010,200Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow witheither a-sign e.g.-15,000 or in parenthesis e.g. (15,000).)operating activities $

A cash flow statement indicates cash inflow and outflow information for a particular time period and…

Wildhorse Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: Accounts receivable Inventory Prepaid expenses Accounts payable Income tax payable Depreciation expense Gain on sale of equipment Profit for the year 2024 Net cash $40,800 64,260 4,080 35,700 16,320 51,000 46,100 336,600 2023 $61,200 71,400 2,040 40,800 10,200 Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) operating activities $

Wildhorse Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: Accounts receivable Inventory Prepaid expenses Accounts payable Income tax payable Depreciation expense Gain on sale of equipment Profit for the year 2024 Net cash $40,800 64,260 4,080 35,700 16,320 51,000 46,100 336,600 2023 $61,200 71,400 2,040 40,800 10,200 Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) operating activities $

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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