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ella [17]
3 years ago
15

Cheyenne Corp. reported net income of $196,100 for 2022. Cheyenne also reported depreciation expense of $47,400 and a loss of $5

,600 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $10,900 for the year, a $12,900 increase in accounts payable, and a $3,200 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method
Business
1 answer:
denpristay [2]3 years ago
4 0

Solution:

                   <u>  Particulars   </u>                                                            <u>Amount</u>

        <u>    Net Operating Income   </u>                                                $ 196,100

Adjustments to reconcile the net to :

Net Cash provided by the operating activities.

Add the depreciation expenses                               $ 47,400

Add loss on disposal of plant assets                       $ 5,600

Add increase in the accounts receivable                $ 10,900

Add increase in Accounts payable                          $ 12,900

Add increases in prepaid expenses                     <u>   $ 3,200   </u>

                                                                                   $ 80,000

Cash balance at the end                                                             $ 276,100                                                                                                    

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Explanation:

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