A company reports net income of $51,500, which included depreciation expense of $45,000; amortization expense of...
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A company reports net income of $51,500, which included depreciation expense of $45,000; amortization expense of $22,000; and a loss from sale of equipment of $14,000. Its comparative balance sheet shows the following changes: accounts receivable increased $32,000; inventory decreased $14,000; prepaid insurance decreased $9,000; and accounts payable increased $13,500. Compute net cash provided by operating activities using the indirect method. A company reports net income of $51,500, which included depreciation expense of $45,000; amortization expense of $22,000; and a loss from sale of equipment of $14,000. Its comparative balance sheet shows the following changes: accounts receivable increased $32,000; inventory decreased $14,000; prepaid insurance decreased $9,000; and accounts payable increased $13,500. Compute net cash provided by operating activities using the indirect method.
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Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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