any points and uning s Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Cash flows from operating activities Selected Year-End Balance Sheet Data $ 374,000 Accounts receivable decrease 44,000 Inventory decrease Changes in current operating assets and liabilities 7,200 Prepaid expenses increase 6,000 Accounts payable decrease Salaries payable increase. Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 17,100 42,000 4,700 8,200 1,200 $

any points and uning s Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets Cash flows from operating activities Selected Year-End Balance Sheet Data $ 374,000 Accounts receivable decrease 44,000 Inventory decrease Changes in current operating assets and liabilities 7,200 Prepaid expenses increase 6,000 Accounts payable decrease Salaries payable increase. Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash $ 17,100 42,000 4,700 8,200 1,200 $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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