Question: When using the indirect method to prepare the statement of cash flows, net income is $23,000. There was a gain on disposal of an asset

When using the indirect method to prepare the statement of cash flows, net income is $23,000. There was a gain on disposal of an asset of $6,000, depreciation expense of $650, an increase in Accounts Receivable of $3,500, and a decrease in Accounts Payable of $2,400. What is the net cash flow from operating activities? OA $24.750 OB. $11,750 OC. $10,450 OD $35.500 When using the indirect method to prepare the staten Accounts Payable of $2,400. What is the net cash flow OA. $24,750 OB. $11,750 C. $10,450 OD. $35,550When using the indirect method to prepare the statement of cash flows,net income is $23,000. There was a gain on disposal of an

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!