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17-7B
17-9B
17-11B
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Explanation & Answer
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VERNET COMPANY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31 2012
Cash Flows for Operating activities
Net income
$47890
Adjustment to reconcile net income to
Net cash provided by Operating activities:
Depreciation expense
$55,000
Decrease in prepaid expenses
4,400
Less: on sale of equipment
(4,000)
Add: depreciation on equipment sold
7,000
Increase in account payable
( 13,000)
Net cash provided by operating activities
Cash flows for ...
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