Question
During 2015, Orton Company earned net income of $464,000 which includeddeprecia-tionexpense of $78,000. In addition, the company experienced the following changes in the account balances
During 2015, Orton Company earned net income of $464,000 which includeddeprecia-tionexpense of $78,000. In addition, the company experienced the following changes in the account balances listed below:
IncreasesDecreases
Accountspayable$45,000Accountsreceivable$12,000
Inventory36,000Accruedliabilities24,000
Prepaidinsurance33,000
Calculate net cash flow from operating activities using indirect method:
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Lawrence A. Tomassini
4th Edition
0072994029, 9780072994025
