Answered

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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

Sagot :

Tundexi

Answer:

$262,800

Explanation:

Missing word: "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:"

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                         $20,000   $59,800

Net cash provided by operating activities                     $262,800

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