Question Details

Prepare the net cash provided by operating activities 




1
The current sections of Robertson Inc.'s statement of financial position at December 31, 2010 and 2011, are presented here.
Robertson's net income for 2011 was $203,000. Depreciation expense was $24,000.
	   2011  	  2010	
	Current assets 
	Prepaid expenses	   $ 27,000	  $ 22,000
	Inventory 	153,000	 172,000
	Accounts receivable	105,000	89,000
	Cash	  115,000	    99,000
	Total current assets	$400,000	$382,000
	Current liabilities 
	Accrued expenses payable	$  15,000	$  5,000
	Accounts payable	    85,000	   92,000
	Total current liabilities	$100,000	$ 97,000

Instructions
Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended December 31, 2011, using the indirect method.


Wintz Company reported net income of $295,000 for 2011. Wintz also reported depreciation expense of $45,000 and a loss of $8,000 on the sale of equipment. The comparative statement of financial position shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $6,000 decrease in prepaid expenses.
	
Instructions
Prepare the operating activities section of the statement of cash flows for 2011. Use the indirect method.




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