Question
BE13.5 (LO 2) (Calculate cash provided (used) by operating activitiesindirect method.) The comparative statement of financial position for Dupigne Corporation shows the following noncash current
BE13.5 (LO 2) (Calculate cash provided (used) by operating activitiesindirect method.) The comparative statement of financial position for Dupigne Corporation shows the following noncash current asset and liability accounts at March 31:
2024 2023
Accounts receivable $60,000 $40,000
Inventory 75,000 70,000
Accounts payable 35,000 40,000
Dividends payable 1,000 2,000
Dupignes statement of income reported the following selected information for the year ended March 31, 2024: net income was $275,000, depreciation expense was $60,000, and a loss on the disposal of land was $15,000. Dupigne uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method.
BE13.5 (LO 2) (Calculate cash provided (used) by operating activities-indirect method.) The comparative statement of financial position for Dupigne Corporation shows the following noncash current asset and liability accounts at March 31: Dupigne's statement of income reported the following selected information for the year ended March 31, 2024: net income was $275,000, depreciation expense was $60,000, and a loss on the disposal of land was $15,000. Dupigne uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect methodStep 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