Use the following income statement and information about changes in non-cash current assets and current liabilities to
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Use the following income statement and information about changes in non-cash current assets and current liabilities to present the cash flows from operating activities using the indirect method:
Changes in current asset and current liability accounts during the year were as follows:Accounts receivable .......................................... $63 decreaseInventory 25 increasePrepaid insurance .................................................. 3 increaseAccounts payable.................................................. 15 increaseAccrued liabilities .................................................. 8 decrease
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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