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Illusion [34]
3 years ago
11

es $ 160,000 Accounts receivable increase $ 10,000 Expenses: Inventory decrease 16,000 Cost of goods sold 100,000 Salaries payab

le increase 1,000 Salaries expense 24,000 Depreciation expense 12,000 Net income $ 24,000 Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
BARSIC [14]3 years ago
8 0

Answer:

                                   Statement of Cash Flows

Cash from operating activities

Net Income                                                                                         $24,000

Adjustments to reconcile net income with

net cash flow from operating activities:

Depreciation                                                                12,000

Increase in accounts receivable                                (10,000)

Decrease in inventory                                                 16,000

Salaries payable increase                                      <u>     1,000             $19,000</u>

Net cash flow : Operating activities                                                  $43,000

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