QS 12-4 (Algo) Indirect: Computing cash flows from operations LO P2 Cain Incorporated reports net income of $ 17,200. Its comparative balance sheet shows the following changes: accounts receivable increased $8, 200; inventory decreased $10,200; prepaid insurance decreased $3,200; accounts payable increased $5,200; and taxes payable decreased $4,200. Compute cash flows from operations using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign.
QS 12-4 (Algo) Indirect: Computing cash flows from operations LO P2 Cain Incorporated reports net income of $ 17,200. Its comparative balance sheet shows the following changes: accounts receivable increased $8, 200; inventory decreased $10,200; prepaid insurance decreased $3,200; accounts payable increased $5,200; and taxes payable decreased $4,200. Compute cash flows from operations using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Statement Of Cash Flows
Section: Chapter Questions
Problem 13.20EX
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