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Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
Edition 4ISBN: 978-0078025372 Exercise 79
Preparing and Evaluating a Simple Statement of Cash Flows (Indirect Method)
Suppose your company's income statement reports $160 of net income, and its comparative balance sheet indicates the following.
Required:
1. Prepare the operating activities section of the statement of cash flows, using the indirect method.
2. Identify the most important cause of the difference between the company's net income and net cash flow from operating activities.
Suppose your company's income statement reports $160 of net income, and its comparative balance sheet indicates the following.
Required:
1. Prepare the operating activities section of the statement of cash flows, using the indirect method.
2. Identify the most important cause of the difference between the company's net income and net cash flow from operating activities.
Explanation
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1.
In order to arrive at the net cash fl...
Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby
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