Cain Company reports net cash provided by operating activities of $39,500. It also reports the following information under "Adjustments to reconcile net income to net cash provided by operating activities" on its statement of cash flows (using the indirect method). Gain on sale of equipment Increase in accounts receivable Depreciation expense Determine Cain's net income. Net income $ 11,800 Decrease in inventory 4,988 Increase in prepaid expenses 8,888 Decrease in wages payable $ 7,800 5,800
Cain Company reports net cash provided by operating activities of $39,500. It also reports the following information under "Adjustments to reconcile net income to net cash provided by operating activities" on its statement of cash flows (using the indirect method). Gain on sale of equipment Increase in accounts receivable Depreciation expense Determine Cain's net income. Net income $ 11,800 Decrease in inventory 4,988 Increase in prepaid expenses 8,888 Decrease in wages payable $ 7,800 5,800
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 15E
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