Homework Answers
Solution
| Bramble Corp. | ||
| Statement of cash flows-Indirect Method | ||
| Cash Flow from Operating Activities: | ||
| Net Income | $ 1,87,000.00 | |
| Adjustments to reconcile net income to | ||
| Net cash from operating activities | ||
| Decrease in Accounts receivables | $ 81,000.00 | |
| Increase in Prepaid Expenses | $ (29,000.00) | |
| Increase in Inventory | $ (41,000.00) | |
| $ 11,000.00 | ||
| Cash Flow from Operating Activities | $ 1,98,000.00 | |
General notes for cash flow
Cash is increased when Current liability increase or Current asset
Decrease.
Cash is Decreased when Current liability Decrease or Current asset
Increase.
Depreciation or loss on sale of any asset is a non cash expense
hence it will be added to net income to get operating cash
Profit on sale of asset or investment is a non cash profit and
hence will be deducted from operating income.
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