Indigo Corporation is preparing its Statement of Cash Flows for the year ended December 31 using the

Question:

Indigo Corporation is preparing its Statement of Cash Flows for the year ended December 31 using the indirect method and has developed the following data:

Increase in deferred tax liabilities .......... 23,000

Decrease in accounts payable ............ (58,000)

Increase in accrued interest payable .......... 43,000

Interest paid ................... 31,000

Proceeds from issuance of long-term debt ..... 600,000

Increase in capital lease payable .......... 67,000

Payments on long-term debt ...........(49,000)

Purchase of bonds payable ........... 90,000

Based on the information developed above, Indigo would report net cash provided from financing activities of:

A. 551,000

B. 587,000

C. 618,000

D. 677,000

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...
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Managerial Accounting

ISBN: 978-0133428377

4th edition

Authors: Karen W. Braun, Wendy M. Tietz

Question Posted: