Question
1.Company uses the indirect method to prepare the statement of cash flows. Refer to the following information: a.Sales Revenue230,000 b.Interest revenue5,000 c.Gain on sale of
1.Company uses the indirect method to prepare the statement of cash flows. Refer to the following information:
a.Sales Revenue230,000
b.Interest revenue5,000
c.Gain on sale of assets5,000
d.COGS110,000
e.Payroll Expense50,000
f.Depreciation Expense10,000
g.Other Expenses15,000
Additional information provided by the company includes the following:
1) Current assets, other than cash, increased by $24,000
2) Current liabilities decreased by $1,000
How much is the net cash provided by operating activities?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
