Operating Activities Cashflow Statement
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17-4) Villa Company reported net income of $195,000 for 2008. Villa also reported depreciation expense of $45,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheet shows a decrease in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses.
Instructions:
Prepare the operating activities section of the statement of cash flows for 2008. Use the indirect method.
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Solution Summary
Operating Activities Cashflow Statement are examined.
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Operating Activities
Indirect Method
Net income + loss on sale of assets + depreciation + decrease in accounts receivable + increase in accounts payable - decrease in prepaid expenses
195,000 + 5000 + 45000 ...
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