Dane’s Drums & Sticks Inc. used the indirect method to calculate net cash provided by operating activities.
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Question:
Dane’s Drums & Sticks Inc. used the indirect method to calculate net cash provided by operating activities. During a year, Dane experienced a decrease in accounts receivable of $8,000, an increase in prepaid expenses of $1,000, and an increase in inventory of $4,000. What is the amount of the total adjustment they must make to their profit of $23,000 to complete the calculation?
$13,000
$3,000
$4,000
$5,000
Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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