Question

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

Answer 1

$262,800

Step-by-step 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