Financial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (4th Edition)
Financial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (4th Edition)
4th Edition
ISBN: 9780134417356
Author: Robert Kemp, Jeffrey Waybright
Publisher: PEARSON
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Chapter 11, Problem 8DQ
To determine

Show the effects of decrease in accounts payable for calculating cash flows from operating activities using indirect method.

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Alec Corporation issued stock to Maria Alec in exchange for her investment of $82,000 cash in the business. The company recorded revenues of $725,000 and expenses of $585,000, and the company paid dividends of $42,000. What was Alec's net income for the year?
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Chapter 11 Solutions

Financial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (4th Edition)

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