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HELP ASAP!! Using the Exhibit below, assume that the balance of Accounts Payable was $ 1 4 , 2 2 0 at the beginning of
HELP ASAP!!
Using the Exhibit below, assume that the balance of Accounts Payable was $ at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $ at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section?
Exhibit from Chapter
Cash Flow from operating activities:
Net Income loss
$XXX
Adjustments to reconcile net income loss to net cash to net cash flows from used for operating activities:
Add depreciation of fixed assets
XXX
Add Amortization of intangible assets
XXX
Add losses on disposal of assets
XXX
Deduct gain on disposal of assets
XXX
Changes in current operating assets & liabilities:
Increases in noncash current operating assets
XXX
Decreases in noncash current operating assets
XXX
Increases in current operating liabilities
XXX
Decreases in current operating liabilities
XXX
Net cash flow from used for operating activities
SXXX
SUBTRACT
ADD
Increases in accounts receivable
Decreases in accounts receivable
Increases in inventory
Decreases in inventory
Increases in prepaid expenses
Decreases in prepaid expenses
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