Cosi Company reported net income of $218,050 for 2014. Cosi also reported deprec

Question

Cosi Company reported net income of $218,050 for 2014. Cosi also reported depreciation expense of $37,780 and a loss of $5,940 on the disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $16,510 for the year, a $18,960 increase in accounts payable, and a $4,200 increase in prepaid expenses.

Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.

COSI COMPANY Partial Statement of Cash Flows For the Year Ended December 31, 2014 Adjustments to reconcile net income to

Explanation / Answer

Answer:

COSI COMPANY Partial Statement of cash flows For the year ended december 31,2014 Operating activities: Net income 218050 Adjustment to reconcile net income to: Depreciation exp 37780 Loss on disposal of plant assets 5940 Increase in accounts receivable -16510 Increase in accounts payable 18960 Increase in prepaid expenses -4200 41970 Net cash provided by operating activities 260020

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