Question
Entity L reported net income of $125,000 for the current year and uses the indirect method to report operating activities cash flow. Taxes Payable decreased
Entity L reported net income of $125,000 for the current year and uses the indirect method to report operating activities cash flow. Taxes Payable decreased by $12,000 during the year. Choose the appropriate category on the statement of cash flows to report the decrease in Taxes Payable.
Entity L reported net income of $125,000 for the current year and uses the indirect method to report operating activities cash flow. Taxes Payable decreased by $12,000 during the year. Choose the appropriate category on the statement of cash flows to report the decrease in Taxes Payable.
a. Cash Flows From Operating Activities-Add to Net Income
b. Cash Flows From Operating Activities-Deduct from Net Income
c. Cash Flows From Investing Activities
d. Cash Flows From Financing Activities
e. Non-cash
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