Hanna Company s current asset and current liability account balances at the beginning and end of the
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Question:
Hanna Companys current asset and current liability account balances at the beginning and end of the year were as follows:
December
End of Year Beginning of Year
Current assets:
Cash and cash equivalents $ $
Accounts receivable $ $
Inventory $ $
Prepaid expenses $ $
Current liabilities:
Accounts payable $ $
Accrued liabilities $ $
Income taxes payable $ $
The Accumulated Depreciation account had total credits of $ Hanna Companys net income was $ and it did not record any gains or losses on the sale of noncurrent assets.
Required:
Using the indirect method, calculate the net cash provided by operating activities for the year.
Note: Cash outflows and amounts to be deducted should be indicated with a minus sign.
Related Book For
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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