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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 31
Determining net income from net cash flow from operating activities
Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for the year ended December 31, 2016. The following information was reported in the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method:
a. Determine the net income reported by Curwen Inc. for the year ended December 31, 2016.
b. Briefly explain why Curwen's net income is different than net cash flow from operating activities.
Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for the year ended December 31, 2016. The following information was reported in the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method:
a. Determine the net income reported by Curwen Inc. for the year ended December 31, 2016.
b. Briefly explain why Curwen's net income is different than net cash flow from operating activities.
Explanation
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a. Determination of net income from net ...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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