Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the accounting records of batiste company provided

The accounting records of Batiste Company provided the data below. Net loss Depreciation expense Decrease...

60.1K

Verified Solution

Question

Accounting

image The accounting records of Batiste Company provided the data below. Net loss Depreciation expense Decrease in wages payable Increase in accounts receivable Decrease in inventory Amortization of patent Decrease in premium on bonds $260,000 312,000 26,000 104,000 120,900 13,000 10,400 Prepare a reconciliation of net income to net cash flows from operating activities. Note: Formulas for Cash outflows must return a negative value. BATISTE COMPANY Reconciliation of Net Income to Net Cash Flows from Operating Activities Cash flows from operating activities: Net loss ($260,000) Adjustments for noncash effects: \begin{tabular}{|l|r|r|} \hline Depreciation expense & 312,000 \\ \hline Amortization of patent & & 13,000 \\ \hline \end{tabular} Changes in operating assets and liabilities: \begin{tabular}{|lr|r|} \hline Decrease in accounts receivable & x & 104,000 \\ \hline Increase in inventory & x & (120,900) \\ \hline Decrease in wages payable & (26,000) \\ \hline & \\ \hline Net cash flows from operating activities & $22,100 \\ \hline \end{tabular}

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