Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020 by using indirect method.

Jubilant Ind has reported net income of P176,600 for 2019. It also reported depreciation expense of P43,700 and a loss of P4,900 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of 11,600 for the year, a 13,600 Increase in accounts payable, and a 3,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020 by using indirect method.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

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