The net income reported on the income statement for the current year was $250,800 Depreciation recorded on equipment and a building amounted to $53,500 for the year Balances of the current asset and current liability accounts at the beginning and end of the year are as follows Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable Beginning of Year $44,200 67,000 112,600 6,000 67,500 7,900 End of Year $42,000 65,400 125,900 5,800 61,400 8,300 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method If the direct method had been used, would the net cash flow from operating activities have been the same Explain

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The net income reported on the income statement for the current year was $250,800  Depreciation recorded on equipment and a building amounted to $53,500 for the year  Balances of the current asset and current liability accounts at the beginning and end of the year are as follows  Cash Accounts receivable (net) Inventories Prepaid expenses Accounts payable (merchandise creditors) Salaries payable Beginning of Year $44,200 67,000 112,600 6,000 67,500 7,900 End of Year $42,000 65,400 125,900 5,800 61,400 8,300 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method  If the direct method had been used, would the net cash flow from operating activities have been the same  Explain

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	Cash	Accounts receivable (net)	Inventories	Prepaid expenses	Accounts payable (merchandise creditors)	Salaries payable
Beginning of Year	$44,200	67,000	112,600	6,000	67,500	7,900
End of Year	$42,000	65,400	125,900	5,800	61,400	8,300

The net income reported on the income statement for the current year was $250,800. Depreciation recorded on

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Cornerstones of Managerial Accounting

The net income reported on the income statement for the current year was $250,800. Depreciation recorded on

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Cornerstones of Managerial Accounting

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