In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?( IF cash INFLOW, leave the numerical figure as positive, if cash OUTFLOW, put a negative sign (-) before the numerical figure) ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheetaccounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium onbonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000decrease; Deferred tax liability - P 150,000 increase. In its 2021 statement of cash flows, how much should bereported as net cash provided (used) by operating activities?

Cash flow statement refers to a financial statement which shows the flows of cash and cash…

Answered: In its 2021 statement of cash flows,…

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Accounting

In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

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In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts receivable, a 7,000 increase in inventory, an 8,000 increase in salaries payable, a 13,000 decrease in accounts payable, and 10,000 in depreciation expense. Using the indirect method, prepare the operating activities section of its statement of cash flows based on this information.
ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheet accounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium on bonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000 decrease; Deferred tax liability - P 150,000 increase. In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?
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