FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Macrosoft Company reports net income of $73,000. The accounting records reveal depreciation expense of $88,000 as well as
increases in prepaid rent, accounts payable, and income tax payable of $68,000, 11,000, and $22,000, respectively Prepare the
operating activities section of Macrosoft's statement of cash flows using the indirect method(List cash outflows and any decrease in
cash as negative amounts.
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Transcribed Image Text:Macrosoft Company reports net income of $73,000. The accounting records reveal depreciation expense of $88,000 as well as increases in prepaid rent, accounts payable, and income tax payable of $68,000, 11,000, and $22,000, respectively Prepare the operating activities section of Macrosoft's statement of cash flows using the indirect method(List cash outflows and any decrease in cash as negative amounts.
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