Vaughn Company reported net income of $112000 for the year ended December 31, 2020. During the year, inventories decreased by $14600, accounts payable decreased by $20500, depreciation expense was $17800 and a gain on disposal of equipment of $9500 was recorded. Net cash provided by operating activities in 2020 using the indirect method was O $123900. O $105900. O $126600. O $114400.
Vaughn Company reported net income of $112000 for the year ended December 31, 2020. During the year, inventories decreased by $14600, accounts payable decreased by $20500, depreciation expense was $17800 and a gain on disposal of equipment of $9500 was recorded. Net cash provided by operating activities in 2020 using the indirect method was O $123900. O $105900. O $126600. O $114400.
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 25CE
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