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Can anyone solve this using the same format above? Thank you The comparative statement of financial position for Carla Vista Corporation shows the following noncash
Can anyone solve this using the same format above?
Thank you
The comparative statement of financial position for Carla Vista Corporation shows the following noncash current asset and liability accounts at March 31: 2018 2017 Accounts receivable $60,000 $40,500 Inventory Accounts payable 31,500 40,000 Dividends payable 1,300 2.300 72,000 61,000 $270,000, Carla Vista's income statement reported the following selected information for the year ended March 31,2018: net income was $270,000, depreciation expense was $69,000, and a loss on the disposal of land was $13,000. Carla Vista uses a perpetual inventory system. Calculate net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a -sign eg. 15,000 or in parenthesis eg. (15,000).) orin parenthesis es. (1500s using the indirect arla Vista uses a perpetual CARLA VISTA CORPORATION Statement of Cash Flows (Partial)-Indirect Method Month Ended March 31,2018 Operating activities Net income 270000 Adjustments to reconcile net income to Net cash provided (used) by operating activities Income tax payable increase Prepaid expenses increase Prepaid expenses decrease Income tax payable decrease Accounts payable decrease Loss on disposal of land Accounts receivable increase Depreciation expense Profit on disposal of land Interest payable decrease Accounts receivable decrease Net income Accounts payable increase Interest payable increase Inventory decrease Inventory increase LossStep by Step Solution
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