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Leni [432]
3 years ago
6

Decrease in accounts receivable $ 33,000 Increase in accounts payable $ 20,000 Increase in retained earnings $ 110,000 Cash paid

for purchase of new music equipment $ 29,000 Depreciation expense $ 6,800 Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities
Business
1 answer:
Ostrovityanka [42]3 years ago
7 0

Answer:

$262,800

Explanation:

Missing word: <em>"Klutz Dance Studio had net income of $203,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:"</em>

<em />

Particulars                                                                           Amount

Net income                                                                         $203,000

Adjustments to reconcile net income to

net cash flows from operating activities  

Depreciation                                                    $6,800

Decrease in accounts receivable                   $33,000

Increase in accounts payable                         <u>$20,000</u>   <u>$59,800</u>

Net cash provided by operating activities                     <u>$262,800</u>

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