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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Under the indirect method, how is the net cash provided by operating activities determined in a company’s statement of cash flows?

To determine

Describe the way in which the net cash provided by operating activity is calculated in the statement of cash flows of the company under the indirect method.

Explanation

Operating activities: Operating activities include cash inflows and outflows from business operations.

Describe the way in which the net cash provided by operating activity is calculated in the statement of cash flows of the company under the indirect method:

Under indirect method, the net income is reported first, and then non-cash expenses, losses from fixed assets, and changes in opening balances and ending balances of current assets are adjusted to reconcile the net income balance...

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