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 S68,000, 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.
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 S68,000, 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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