Madison Company reported net income of $100,000 for the year ended December 31, 2013. During the year,
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Madison Company reported net income of $100,000 for the year ended December 31, 2013. During the year, inventories decreased by $12,000, accounts payable decreased by $18,000, depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded. Net cash provided by operating activities in 2013 using the indirect method was
a. $154,000.
b. $105,000.
c. $112,000.
d. $90,000.
Related Book For
Financial Accounting
ISBN: 9780078110825
2nd Edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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