The comparative balance sheets for Chas Company show these changes in noncash current accounts: Accounts Receivable increased

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The comparative balance sheets for Chas Company show these changes in noncash current accounts: Accounts Receivable increased $35,500, Prepaid Expenses decreased $12,800, and Inventory decreased $22,500. Accounts Payable increased $16,000. Calculate net cash provided by operating activities using the indirect method assuming that profit is $300,000 for the year ended June 30, 2024. Depreciation Expense for the year was $32,000 and the company realized a gain on sale of equipment of $25,000.

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Accounting Principles Volume 2

ISBN: 9781119786634

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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