Salem Inc, reported the following data Net income $168,750 Depreciation expense 18,750 Gain on disposal of equipment 15,375 Decrease in accounts receivable 10,500 Decrease in accounts payable 2,700 Prepare the Cash Flows from Operating Activities section of the statement of cash flows using the ind...

Cash flows from operating activities Net income 168750 Adjustments to recon ...

Salem Inc, reported the following data: Net income ............$168,750 Depreciation expense .......... 18,750 Gain on disposal of

Question:

Salem Inc, reported the following data:
Net income ............$168,750
Depreciation expense .......... 18,750
Gain on disposal of equipment .... 15,375
Decrease in ..... 10,500
Decrease in ...... 2,700
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...