Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Prepare the operating activities section of the 2 0 2 4 statement of cash flows. Exercise 4-17 (Algo) Statement of cash flows; indirect method [L04-8]
Prepare the operating activities section of the statement of cash flows.
Exercise 4-17 (Algo) Statement of cash flows; indirect method [L04-8] Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2024 fiscal year was $719,000. Depreciation and amortization expense of $86,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: $ 41, 11, 10 , 11,900 17 , Decrease in receivable Increase in Increase in expenses Increase in payable Decrease in payable Required: accounts inventory prepaid sala ries income taxes Prepare the operating activities section of the 2024 statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows fromo ratin activities: Ad'ustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from o ratin activities
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started