Question
Question Content Area A company had net income of $264,017. Depreciation expense was $24,720. During the year, accounts receivable and merchandise inventory increased by $17,035
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Question Content Area
A company had net income of $264,017. Depreciation expense was $24,720. During the year, accounts receivable and merchandise inventory increased by $17,035 and $30,872, respectively. Prepaid expenses and accounts payable decreased by $2,889 and $7,530, respectively. There was also a loss on the sale of equipment of $5,031. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method?
a.$284,572
b.$231,158
c.$241,220
d.$293,768
Question Content Area
A company had net income of $264,017. Depreciation expense was $24,720. During the year, accounts receivable and merchandise inventory increased by $17,035 and $30,872, respectively. Prepaid expenses and accounts payable decreased by $2,889 and $7,530, respectively. There was also a loss on the sale of equipment of $5,031. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method?
a.$284,572
b.$231,158
c.$241,220
d.$293,768
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Auditing Principles And Techniques
Authors: Sanjib Kumar Basu, Andrei Alexandrescu
1st Edition
8177581783, 9788177581782
