Pettygrove Inc reported the following data Net income $405,000 Depreciation expense 45,000 Gain on disposal of equipment 36,900 Decrease in accounts receivable 25,200 Decrease in accounts payable 6,480 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using th...

Cash flows from operating activities Net income 405000 Adjustments to rec ...

Pettygrove Inc. reported the following data: Net income ...................................... $405,000 Depreciation expense ......................... 45,000 Gain on disposal

Question:

Pettygrove Inc. reported the following data:
Net income ...................................... $405,000
Depreciation expense ......................... 45,000
Gain on disposal of equipment .............. 36,900
Decrease in ............. 25,200
Decrease in ................ 6,480
Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...