Demers Inc. reported the following data:Net income $490,000Depreciation expense 52,000Gain on disposal of equipment 26,500Decrease in accounts receivable 32,400Decrease in accounts payable 12,350Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method.
Demers Inc. reported the following data:Net income $490,000Depreciation expense 52,000Gain on disposal of equipment 26,500Decrease in accounts receivable 32,400Decrease in accounts payable 12,350Prepare the Cash flows from operating activities section of the statement of cash flows, using the indirect method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Demers Inc. reported the following data:
Net income $490,000
Depreciation expense 52,000
Gain on disposal of equipment 26,500
Decrease in
Decrease in accounts payable 12,350
Prepare the
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