The following information was taken from the books of Tapwater Company. Compute the amount of net cash

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The following information was taken from the books of Tapwater Company. Compute the amount of net cash provided by (used in) operating activities during 2011 using the indirectmethod.

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Intermediate Accounting

ISBN: 978-0324592375

17th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

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Question Posted: Jan 28, 2012 06:33 AM

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The following information was taken from the books of Tapwater Company. Compute the amount of net cash

Question:

Dec. 31, 2011 Dec. 31, 2010 Accounts receivable Accounts payable Accumulated depreciation (no plant assets retired during year) Inventories Other current liabilities Prepaid ins Net income $18,900 I1,500 29,000 24,500 5,000 .200 35,500 $16.750 14,000 22,000 20,000 3,000 2,000 urance

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Cash flows from operating activities Net income 35500 Adjustments Dep...View the full answer

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