The current sections of Headlands Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Headlands Corp.'s netincome for 2022 was $330,200. Depreciation expense was $54,600.Current assetsCashAccounts receivableInventoryPrepaid expensesTotal current assetsCurrent liabilitiesAccrued expenses payableAccounts payableTotal current liabilities2022$80,600110,500101,40022,100$314,600$7,800114,400$122,2002021$ 115,70089,70080,60024,700$310,700$20,80093,600$ 114,400Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesise.g. (15,000).)

Lets understand the basics.Cashflow statement gets divided into mainly three type of activities…

The current sections of Headlands Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Headlands Corp.'s r income for 2022 was $330,200. Depreciation expense was $54,600. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable 2022 $80,600 110,500 101,400 22,100 $314,600 $7,800 2021 $115,700 89,700 80,600 24,700 $310,700 $ 20,800

The current sections of Headlands Corp.'s balance sheets at December 31, 2021 and 2022, are presented here. Headlands Corp.'s r income for 2022 was $330,200. Depreciation expense was $54,600. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable 2022 $80,600 110,500 101,400 22,100 $314,600 $7,800 2021 $115,700 89,700 80,600 24,700 $310,700 $ 20,800

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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The current sections of Flint Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Flint Corporation's net income for 2022 was $215,900. Depreciation expense was $35,700. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $52,700 eTextbook and Media 72,250 66,300 14,450 $205,700 $5,100 74,800 $79,900 2021 Adjustments to reconcile net income to $75,650 58,650 52,700 16,150 $203,150 Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) $ 13,600 61,200 $74,800 Flint Corporation Partial Statement of Cash Flows $
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The current sections of Martinez Corp.’s balance sheets at December 31, 2021 and 2022, are presented here. Martinez Corp.’s net income for 2022 was $241,300. Depreciation expense was $39,900. 2022 2021 Current assets Cash $58,900 $ 84,550 Accounts receivable 80,750 65,550 Inventory 74,100 58,900 Prepaid expenses 16,150 18,050 Total current assets $229,900 $227,050 Current liabilities Accrued expenses payable $ 5,700 $ 15,200 Accounts payable 83,600 68,400 Total current liabilities $89,300 $ 83,600
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