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The accounting records of EZ Company provided the data below. Net income Depreciation expense Increase in inventory Decrease in salaries payable Decrease in accounts receivable of patent Amortization Amortization of premium on bonds Increase in accounts payable Cash dividends paid $64,250 13,750 4,875 3,575 6,500 1,025 6,925 10,750 19,500

The accounting records of EZ Company provided the data below. Net income Depreciation expense Increase in inventory Decrease in salaries payable Decrease in accounts receivable of patent Amortization Amortization of premium on bonds Increase in accounts payable Cash dividends paid $64,250 13,750 4,875 3,575 6,500 1,025 6,925 10,750 19,500

FINANCIAL ACCOUNTING
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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The accounting records of EZ Company provided the data below. Net income Depreciation expense Increase in inventory Decrease in salaries payable Decrease in accounts receivable Amortization of patent Amortization of premium on bonds Increase in accounts payable Cash dividends paid $64,250 13,750 4,875 3,575 6,500 1,025 6,925 10,750 19,500
Transcribed Image Text:The accounting records of EZ Company provided the data below. Net income Depreciation expense Increase in inventory Decrease in salaries payable Decrease in accounts receivable Amortization of patent Amortization of premium on bonds Increase in accounts payable Cash dividends paid $64,250 13,750 4,875 3,575 6,500 1,025 6,925 10,750 19,500
Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.) RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities
Transcribed Image Text:Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.) RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities: Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities
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