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Flynn Company reported a net loss of $40,000 for the year ended December 31, 2014. During the year, accounts receivable decreased $20,000, inventory increased $32,000, accounts payable increased by $40,000, and depreciation expense of $20,000 was recorded. During 2014, operating activities .used net cash of $32,000 provided net cash of O .$32,000 .used net cash of $8,000 provided net cash of O .$8,000

Flynn Company reported a net loss of $40,000 for the year ended December 31, 2014. During the year, accounts receivable decreased $20,000, inventory increased $32,000, accounts payable increased by $40,000, and depreciation expense of $20,000 was recorded. During 2014, operating activities .used net cash of $32,000 provided net cash of O .$32,000 .used net cash of $8,000 provided net cash of O .$8,000

FINANCIAL ACCOUNTING
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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V:.. 4.ll JO 100 Flynn Company reported a net loss of $40,000 for the year ended December 31, 2014. During the year, accounts receivable decreased $20,000, inventory increased $32,000, accounts payable increased by $40,000, and depreciation expense of $20,000 was recorded. During 2014, operating activities .used net cash of $32,000 provided net cash of .$32,000 .used net cash of $8,000 provided net cash of .$8,000
Transcribed Image Text:V:.. 4.ll JO 100 Flynn Company reported a net loss of $40,000 for the year ended December 31, 2014. During the year, accounts receivable decreased $20,000, inventory increased $32,000, accounts payable increased by $40,000, and depreciation expense of $20,000 was recorded. During 2014, operating activities .used net cash of $32,000 provided net cash of .$32,000 .used net cash of $8,000 provided net cash of .$8,000
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