Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the...

 

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Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to Brief Exercise 17-04 Telfer, Inc. reported net income of $2.3 million in 2020. Depreciation for the year was $163,200, accounts receivable decreased $357,900, and accounts payable decreased $287,100. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) Telfer, Inc. Statement of Cash Flows-Indirect Approach Adjustments to reconcile net income to

Answer rating: 100% (QA)

Answer Explanation Telfer Inc Statement of Cash flows Indirect Approach Year ... View the full answer