3. (a) JIT, Inc. reported net income of Tk. 2.5 million in 2010. Depreciation for the year was Tk. 160,000, accounts receivable decreased Tk. 350,000, and accounts payable decreased Tk. 280,000. Compute net cash provided by operating activities using the indirect method. For 2010 depreciation on plant assets was Tk. 70,000, and the company incurred a loss on sale of plant assets of Tk. 12,000. Compute net cash provided by operating activities under the indirect method.

3. (a) JIT, Inc. reported net income of Tk. 2.5 million in 2010. Depreciation for the year was Tk. 160,000, accounts receivable decreased Tk. 350,000, and accounts payable decreased Tk. 280,000. Compute net cash provided by operating activities using the indirect method. For 2010 depreciation on plant assets was Tk. 70,000, and the company incurred a loss on sale of plant assets of Tk. 12,000. Compute net cash provided by operating activities under the indirect method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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