Using the information of MARIE's determine the cash provided by operating activities during 1993 bythe indirect method. Net income for 1993 was P162,000.12/31/9212/31/93Accrued interest payablerecognized10,00012,500Depreciation expense recognized18,20018.900Prepaid expense recognized7751,235

The question is based on the concept of Cashflow statements.

Answered: Using the information of MARIE's…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 40E

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Thompson Company sold a piece of equipment that had an original cost of 22,000 and a carrying value of 10,000 for 13,000 in cash. How would this information be reported on a statement of cash flows prepared using the indirect method?
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Using the information of MARIE's determine the cash provided by operating activities during 1993 by the indirect method. Net income for 1993 was P162,000. 12/31/92 12/31/93 Accrued interest payable 10,000 12,500 recognized Depreciation expense recognized 18,200 18,900