1. A company uses the indirect method to determine its cash flows from operating activities. Use the following information to determine its net cash provided or used by operating activities: Net income S15,200 Depreciation expense $10,000 Cash payment on note payable S8,000 Gain on sale of land $3,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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1. A company uses the indirect method to determine its cash flows from operating activities. Use the
following information to determine its net cash provided or used by operating activities:
Net income
S15,200
Depreciation expense
S10,000
Cash payment on note payable
$8,000
Gain on sale of land
$3,000
Increase in inventory
S1,500
Increase in accounts payable
$2,850
Transcribed Image Text:1. A company uses the indirect method to determine its cash flows from operating activities. Use the following information to determine its net cash provided or used by operating activities: Net income S15,200 Depreciation expense S10,000 Cash payment on note payable $8,000 Gain on sale of land $3,000 Increase in inventory S1,500 Increase in accounts payable $2,850
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