Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marigold Corp. reported net income of $2.3 million in 2020. Depreciation for the year was $161,500, accounts receivable decreased $343,000, and accounts payable decreased $256.700.

image text in transcribed
Marigold Corp. reported net income of $2.3 million in 2020. Depreciation for the year was $161,500, accounts receivable decreased $343,000, and accounts payable decreased $256.700. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with ether asign eg.-15,000 or in parenthesis es. (15,000).) Marigold Corp. Statement of Cash Flows-Indirect Approach For the Year Ended 2020 . Cash Flows from Operating Activities income 2300000 Adjustments to reconcile net income to NetCat Provided by Operating Activities eTextbook and Media

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health And Safety Environment And Quality Audits A Risk-based Approach

Authors: Stephen Asbury

2nd Edition

0415508118, 978-0415508117

More Books

Students also viewed these Accounting questions

Question

Understand the different approaches to job design. page 167

Answered: 1 week ago