Brandon Inc. reported the following items in its balance sheet and income statement: net income, $92,600; gain

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Brandon Inc. reported the following items in its balance sheet and income statement: net income, $92,600; gain on disposal of equipment, $15,800; increase in accounts receivable, $17,400; decrease in accounts payable, $27,900; and increase in common stock, $50,000.

Required:
Compute the net cash flows from operating activities using the indirect method. Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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