Question
Fix-it Felix Corporation reported net income of $29,000 for the year ended December 31, 2021. During the year, inventories decreased by $8,700, accounts payable decreased
Fix-it Felix Corporation reported net income of $29,000 for the year ended December 31, 2021. During the year, inventories decreased by $8,700, accounts payable decreased by $8,850, depreciation expense was $11,700, and accounts receivable increased by $8,200.
Required:
1. Using the indirect method, calculate net cash provided by operations in 2021.
Fix-it Felix Corporation reported net income of $29,000 for the year ended December 31, 2021. During the year, inventories decreased by $8,700, accounts payable decreased by $8,850, depreciation expense was $11,700, and accounts receivable increased by $8,200. |
Required:
1. Using the indirect method, calculate net cash provided by operations in 2021.
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Auditing A Practical Approach
Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren
2nd Canadian edition
9781118377901, 1118377907, 1119048095, 978-1118849415
