Question
Blue Company's net income last year was $35,000. Changes in selected balance sheet accounts for the year appear below: Increases(Decreases) Debit balances: Accounts receivable$(7,000)Inventory8,000Prepaid expenses(6,000)
Blue Company's net income last year was $35,000. Changes in selected balance sheet accounts for the year appear below:
Increases(Decreases)Debit balances:Accounts receivable$(7,000)Inventory8,000Prepaid expenses(6,000)Credit balances:Accumulated depreciation10,000Accounts payable13,000Accrued liabilities(5,000)Taxes payable5,000
Based solely on this information, net cash flow from operating activities under the indirect method on the statement of cash flows would be:
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Financial Accounting
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
6th Edition
1618533118, 978-1618533111
