The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7800. Using the indirect method, how much cash was provided by operating activities? O $313200 O $324900 O $340500
The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7800. Using the indirect method, how much cash was provided by operating activities? O $313200 O $324900 O $340500
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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![The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable
and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by
$1200 and $7800. Using the indirect method, how much cash was provided by operating activities?
O $313200
O $324900
O $340500
O $297400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7f0a31e-149e-4057-91bc-41e0ddd41717%2Fdacea53b-029d-4813-8582-67737f4a93e2%2Fkaczqj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable
and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by
$1200 and $7800. Using the indirect method, how much cash was provided by operating activities?
O $313200
O $324900
O $340500
O $297400
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