Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Virginia Company uses the indirect method to prepare the Statement of Cash Flows. Refer to the following section of the comparative Balance Sheet: Virginia Company
Virginia Company uses the indirect method to prepare the Statement of Cash Flows. Refer to the following section of the comparative Balance Sheet: Virginia Company Comparative Balance Sheet December 31, 2025 and 2024 Increase/ 2025 2024 (Decrease) Accounts Payable $4,000 $6,000 $(2,000) Accrued Liabilities 2,000 1,000 1,000 Long-term Notes Payable 84,000 90,000 (6,000) Total Liabilities $90,000 $97,000 $(7,000) How will the change in Accounts Payable be shown on the Statement of Cash Flows? O A. as a deduction from Net Income in the operating activities section O B. as a deduction from investing cash flows O C. as an addition to operating cash flows O D. as an addition to Net Income in the operating 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