Question
Adjusting Net Income for Changes in Current Assets and Current Liabilities Lloyd Company reported net income of $25,000 for 20-2. The December 31 balances of
Adjusting Net Income for Changes in Current Assets and Current Liabilities
Lloyd Company reported net income of $25,000 for 20-2. The December 31 balances of the current assets and current liabilities are shown below.
| 20-2 | 20-1 | |
| Accounts Receivable | $4,200 | $3,000 |
| Merchandise Inventory | 25,000 | 30,000 |
| Accounts Payable | 16,000 | 18,000 |
| Wages Payable | 7,600 | 12,000 |
Compute cash provided by operating activities. $
Compute cash provided by operating activities. $
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CA FOUNDATION FINANCIAL ACCOUNTING BY NSHAH MODULE I
Authors: Sanjay Nanak Chand Thadhani
1st Edition
172887419X, 978-1728874197
