A recent statement of cash flows for Oleg Company reported the following information: Based on the information
Question:
Based on the information presented in the statement of cash flows for Oleg Company, determine whether the following accounts increased or decreased during the period: Accounts Receivable, Inventory, Other Current Assets, Accounts Payable, and Other Current Liabilities.
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452,800 Net Income 2 Adjustments to reconcile net Income to cash basis: Depreciation expense 64,000 (29,000) 16.200 Accounts recelvable Inventor y Other current assets 6. Accounts payable (17,000) Other current llablities 8. 195,000 Total reconciling adjustments 220,600 673,400 10 Net cash provided by operating activities 11
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