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3 years ago

Fitz Company reports the following information.

Business

1 answer:

Paha777 [63]3 years ago

4 0

Answer and Explanation:

The preparation of the operating activities section is presented below:

Cash flows from operating activities

Net income $374,000

Adjustments made

Add: Depreciation $44,000

add: Amortisation expanses $7,200

Add: Accounts receivable decrease $17,100

Add: Inventory decrease $42,000

Less: Prepaid expense increase -$4,700

Less: Accounts payable decrease -$8,200

Add: Wages payable increases $1,200

Less: Gain on sale of machinery -$6,000

Net cash provided by operating activities $466,600

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