Ch 12 532995 11 Free Listening on SoundClous Kimmel Accounti

Ch 12 532995 11 Free Listening on SoundClous Kimmel, Accounting, 6 tvanhoe Photography reported net income of $238,300 for 2017, Included in the income statement were depreciation disposal of plant assets of $8,579. Ivanhoe Photograghy\'s comparative balance sheets show the following balances 5th expense of $15,013, patent amortization expense of $9,532, and a gain a disposal of plant assets of $8,579. Ivanhoe Photography\'s 12/31/17 12/31/16 Accounts receivable Accounts payable Calculate net cash provided (used) by operating activities for Ivanhoe Photography. (Show amoun $50,043 1,924 $64,341 14,298 i ts that decrease cash fiew with either a- sign e.g,-15,000 or in by Study(15,000).) Statement of Cash Flows Cash Flows frem Operating Activities et Income 238 Adjustments to reconcile net income to Net Cash Provided by Operating Activities 15013 Gain on Disposal of Plant Assets in Accounts Recelvable 14290 increase in Accounts Payable t) Patent Amortization Expense 953 Net Cash Provided by Operating Activities if you would like to Show Work for this questions oen 5hoWo

Solution

Cash flow from operating activities Net Income 238,300.00 Adjustments to reconcile net income to Net cash provided by operating activities Depreciation expense 15,013.00 Gain on disposal of plant assets -8,579.00 Decrease in accounts receivable 14,298.00 Increase in accounts payable 7,626.00 Patent amortization expense 9,532.00 37,890.00 Net cash provided by operating activities 276,190.00