Sheridan Company's prepaid insurance was $192000 at December 31, 2021 and $89600 at December 31, 2020. Insurance expense was $62000 for 2021 and $53300 for 2020. What amount of cash disbursements for insurance would be reported in Sheridan's 2021 net cash provided by operating activities presented on a direct basis

$164,400

Explanation:

Calculation to determine What amount of cash disbursements for insurance would be reported in Sheridan's 2021 net cash provided by operating activities presented on a direct basis

Using this formula

Cash disbursements for insurance =2021 prepaid insurance +Insurance expense-BOY prepaid insurance

Let plug in the formula

Cash disbursements for insurance=$192,000+ $62,000-$89,600

Cash disbursements for insurance=$164,400

Therefore the amount of cash disbursements for insurance that would be reported in Sheridan's 2021 cash provided by operating activities presented on a direct basis is $164,400

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explanation:

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