- Green Forest Corp S 2020 Income Statement Showed The Following Profit 290 600 Depreciation Expense Building 33 00 1 (50 KiB) Viewed 37 times
Green Forest Corp's 2020 income
statement showed the following: profit, $290,600, depreciation expense, building, $33,000, depreciation expense, equipment, $6,530, and gain on sale of equipment, $5,000. An examination of the
company's current assets and current liabilities showed that the following changes occurred because of operating activities: accounts receivable decreased $14,450, merchandise inventory decreased $41,000; prepaid expenses increased $2,930; accounts payable decreased $7,330; and other current payables increased $1,090. Use the indirect method to calculate the cash flow from operating activities (List any deduction in cash and cash outflows as negative amounts.) GREEN FOREST CORP'S
Statement of Cash Flows Cash flows from operating activities Adjustments to reconcile profit to net cash provided by operating activities 0 < Prev 2 of 10 Next >