Texas Holdem Inc reported the following data Net income $85,000 Depreciation expense 14,000 Gain on disposal of equipment 10,500 Decrease in accounts receivable 6,000 Decrease in accounts payable 1,800 Prepare the cash flows from operating activities section of the statement of cash flows using the...

Cash flows from operating activities Net income 85000 Adjustments to reconci ...

Texas Holdem Inc. reported the following data: Net income ......... $85,000 Depreciation expense ..... 14,000 Gain on

Question:

Texas Holdem Inc. reported the following data:
Net income ......... $85,000
Depreciation expense ..... 14,000
Gain on disposal of equipment . 10,500
Decrease in . 6,000
Decrease in .. 1,800

Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...