Use the following information Hockey Apparel Providers, Inc. provided for the current year to compute net cash

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Use the following information Hockey Apparel Providers, Inc. provided for the current year to compute net cash flow from operating activities under the indirect reporting format.

Changes in Balance Sheet Accounts                                  Amount

Decrease in Accounts Receivable……………………………….      $ 29,000

Decrease in Inventory……………………………….………….                43,000

Increase in Prepaid Expenses……………………………….…..             9,000

Decrease in Accounts Payable……………………………….….           34,000

Increase in Income Taxes Payable………………………………         32,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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