ADJUSTING NET INCOME FOR CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES Lloyd Company reported net income of

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ADJUSTING NET INCOME FOR CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES Lloyd Company reported net income of $25,000 for 20-2. The December 31 balances of the current assets and current liabilities are shown below.

20-2 20-1 Accounts Receivable Merchandise Inventory Accounts Payable Wages Payable $ 5,000 $ 3,000 30,000 18,000 20,000

Compute cash provided by operatingactivities.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 23, 2011 08:54 AM

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ADJUSTING NET INCOME FOR CHANGES IN CURRENT ASSETS AND CURRENT LIABILITIES Lloyd Company reported net income of

Question:

20-2 20-1 Accounts Receivable Merchandise Inventory Accounts Payable Wages Payable $ 5,000 $ 3,000 30,000 18,000 20,000 8,000 12,000

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