Alfredo Inc. reports net income of $235,000 for the year ended December 31. It also reports...
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Alfredo Inc. reports net income of $235,000 for the year ended December 31. It also reports $89.900 depreciation expense and a $5.250 gain on the sale of equipment. Its comparative balance sheet reveals a $36,500 decrease in accounts receivable, a $16,250 increase in accounts payable, and a $12,850 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method. Alfredo Inc. reports net income of $235,000 for the year ended December 31. It also reports $89.900 depreciation expense and a $5.250 gain on the sale of equipment. Its comparative balance sheet reveals a $36,500 decrease in accounts receivable, a $16,250 increase in accounts payable, and a $12,850 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
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Starting with net income Net income 235000 Adding back ... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0134472140
13th edition
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
Posted Date:
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