I want to correct answer general accounting Last year, Smith Corporation's cash account decreased by $35,000. Net cashused in investing activities was $15,000, and net cash provided by financingactivities was $30,000. What was the net cash flow provided by (used in)operating activities on the statement of cash flows?

To better clarify inflows and outflows, let's revisit the components of the cash flow statement:Cash…

Answered: Last year, Smith Corporation's cash…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 19E

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Using the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…

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Last year, Smith Corporation's cash account decreased by $35,000. Net cash used in investing activities was $15,000, and net cash provided by financing activities was $30,000. What was the net cash flow provided by (used in) operating activities on the statement of cash flows?