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Blossom Company prepared the tabulation below at December 31, 2022 Net Income=$307,100 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense=$32,100 Decrease in accounts receivable=$50,100 Increase in inventory=$12.100 Decrease in accounts payable=$8,700 Increase in income taxes payable:$1,600 Loss on sale of land=$5,100 Net cash provided (used) by operating activities

Blossom Company prepared the tabulation below at December 31, 2022 Net Income=$307,100 Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense=$32,100 Decrease in accounts receivable=$50,100 Increase in inventory=$12.100 Decrease in accounts payable=$8,700 Increase in income taxes payable:$1,600 Loss on sale of land=$5,100 Net cash provided (used) by operating activities

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.17E
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Blossom Company prepared the tabulation below at December 31, 2022

Net Income=$307,100

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation expense=$32,100

Decrease in accounts receivable=$50,100

Increase in inventory=$12.100

Decrease in accounts payable=$8,700

Increase in income taxes payable:$1,600

Loss on sale of land=$5,100

Net cash provided (used) by operating activities

Net Cash Provided by Operating Activities Loss on Sale of Land Increase in Prepaid Expenses Decrease in Prepaid Expenses Increase in Income Taxes Payable Increase in Inventory Decrease in Inventory Net Income Decrease in Accounts Payable Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Used by Operating Activities Increase in Accounts Receivable Depreciation Expense Decrease in Accounts Receivable
Transcribed Image Text:Net Cash Provided by Operating Activities Loss on Sale of Land Increase in Prepaid Expenses Decrease in Prepaid Expenses Increase in Income Taxes Payable Increase in Inventory Decrease in Inventory Net Income Decrease in Accounts Payable Increase in Accounts Payable Decrease in Income Taxes Payable Net Cash Used by Operating Activities Increase in Accounts Receivable Depreciation Expense Decrease in Accounts Receivable
Show how each item should be reported in the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net Income Adjustments to reconcile net income to BLOSSOM COMPANY Partial Statement of Cash Flows Net Cash Provided by Operating Activities V: Decrease in Accounts Receivable Increase in Inventory Decrease in Accounts Payable Increase in Income Taxes Payable Loss on Sale of Land Net Cash Used by Operating Activities > > > tA 307,100
Transcribed Image Text:Show how each item should be reported in the statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net Income Adjustments to reconcile net income to BLOSSOM COMPANY Partial Statement of Cash Flows Net Cash Provided by Operating Activities V: Decrease in Accounts Receivable Increase in Inventory Decrease in Accounts Payable Increase in Income Taxes Payable Loss on Sale of Land Net Cash Used by Operating Activities > > > tA 307,100
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