Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sheridan company reported net income of $279,300 f

Sheridan Company reported net income of $279,300 for 2022 . Sheridan sold equipment that cost...

80.2K

Verified Solution

Question

Accounting

image
image
image
Sheridan Company reported net income of $279,300 for 2022 . Sheridan sold equipment that cost $114,000 and had a book value of $68,400 for $59,280. The comparative balance sheet shows a decrease in accoumts recolvable of $21,660 for the year, $14,820 increase in accounts payable, $4,560 increase in prepaid expenses, and a $19,390 increase in accumulated depreciation. Prepare the operating activities section of the statement of cashflows for 2022 . Use the indirect method. (Show amounts that decrease cash flow with either a - sian e.3. -15.000 or in parenthesis e.s. (15.000). Cash at Beginning of Period Cashat End of Period Cash Flows from Financhng Activities Cash Flows from investing Acthities Cosh Flows from Operating Activities Net Cash Provided by Financing Activities Net Cash Provided by Investing Activities Net Cash Provided by Operating Actwities Not Cashused by Financing Activities Not Cash used by Investing Actwibes Net Cash used by Operating Activitios Net Decrease in Cash Net increase in Cash SHERIDAN COMPANY Statement of Cash Flows (Partial) 5 5 3

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students