Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and correspondingbalances were drawn from the company's Year 2 and Year 1 year-end balance sheets.Year 2$12,8007,200Account TitleAccounts receivableAccounts payableThe Year 2 income statement showed net income of $26,500.Year 1$18,5009,400Requireda. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with a minussign.)

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Description: Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and correspondingbalances were drawn from the company's Year 2 and Year 1 year-end balance sheets.Year 2$12,8007,200Account TitleAccounts rec

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Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable. Accounts payable The Year 2 income statement showed net income of $26,500. Year 2 $12,800 7,200 Year 1 $18,500 9,400 Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)

Alfonza Incorporated presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from the company's Year 2 and Year 1 year-end balance sheets. Account Title Accounts receivable. Accounts payable The Year 2 income statement showed net income of $26,500. Year 2 $12,800 7,200 Year 1 $18,500 9,400 Required a. Prepare the operating activities section of the statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)

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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