Question
Chino Company reported net income of $20,000 for the current year. During the year, Inventory decreased by $7,000, Accounts Payable decreased by $8,000, Depreciation Expense
Chino Company reported net income of $20,000 for the current year. During the year, Inventory decreased by $7,000, Accounts Payable decreased by $8,000, Depreciation Expense was $10,000, and Accounts Receivable increased by $6,500. If the indirect method is used, what is the net cash provided by operating activities?
- A. $22,500
- B. $38,500
- C. $10,500
- D. $51,500
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Accounting Fundamentals For Health Care Management
Authors: Steven A. Finkler, David M. Ward, Thad Calabrese
3rd Edition
1284124932, 9781284124934
