Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ocean pines company had net income $500,000. They also had depreciation expense of $100,000, an increase or (decrease) in accounts receivable of $-30,000, and an

Ocean pines company had net income $500,000. They also had depreciation expense of $100,000, an increase or (decrease) in accounts receivable of $-30,000, and an increase or (decrease) in inventory of $3,000.Ocean pines prepares their statement of cash flows using the indirect method. Use this information to determine the dollar value of cash provided or (used) by operating activities. If the total is a use of cash enter as a negative number. (a negative number for accounts receivable or inventory indicates that the balance decreased)

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

Financial and managerial accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

1st edition

111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114

More Books

Students also viewed these Accounting questions

Question

The list of minterms of next state A + , is given by: ( _ _ _ _ )

Answered: 1 week ago

Question

Go, do not wait until I come

Answered: 1 week ago

Question

Make eye contact when talking and listening

Answered: 1 week ago