Acme Company’s accountant determines that the net cash provi…
Acme Company’s accountant determines that the net cash provided by operating activities for calendar year 20Y2 is $150,000. When making this determination, the accountant forgot to make adjustments for changes in the annual balances of two working capital accounts. One account is an unearned revenue liability related to a $36,000 payment that Acme received from a customer on December 1, 20Y1. The advance payment was for a service contract that covers the four-month period ending March 31, 20Y2. The other account is a prepaid expense asset for a $15,000 premium that Acme paid to an insurance company on November 1, 20Y1. The policy covers the six-month period ending April 30, 20Y2. After making the necessary adjustments, what is the correct amount of Acme’s net cash provided by operating activities in 20Y2?