Incredible America Transportation (IAT) began 2012 with accounts receivable, inventory, and prepaid expenses totaling $48,000. At the
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Net income for the year was $81,000. Included in net income were a $9,000 loss on the sale of land and depreciation expense of $4,000.
Show how IAT should report cash flows from operating activities for 2012. IAT uses the indirect method.
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Cash flows from operating activities Net income 81000 Adjustments to reco...View the full answer
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Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
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