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bearhunter [10]
3 years ago
9

Hampton Company reports the following information for its recent calendar year. Income Statement Data Selected Year-End Balance

Sheet Data Sales $ 71,000 Accounts receivable increase $ 6,000 Expenses: Inventory decrease 4,000 Cost of goods sold 38,000 Salaries payable increase 900 Salaries expense 11,000 Depreciation expense 6,000 Net income $ 16,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
Andreyy893 years ago
5 0

Answer:

Net Cash provided by Operating Activities  $20,900.00

Explanation:

Cash Flows from Operating Activities  

Net Income        $16,000.00

Adjustments to reconcile Net Income:

+ Depreciation expenses.

$6,000.00

- Increase in Accounts receivables.

($6,000.00)

+Decrease in Inventory

$4,000.00

+Increase in Salaries Payable.

$900.00

Net Cash provided by Operating Activities   $20,900.00

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