Cash flow from operating activity using indirect method
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At begining of year the accounts receivable was $20,000 and $40,000. The net income for the year was $102,000. what is the operating activity to be reported on the statement of cash flows prepared by indirect method?
I do not know where to start and can u explain the indirect method please.
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The solution explains how to calculate the cash flow from operating activity using the indirect method.
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In indirect method we start with net income and then add or subtract the changes in current assets and current liabilities. If assets increase or ...
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