Cash flow form operating activities-indirect method The income statement disclosed the following items for the year: 11eb79a5_9a21_99ca_bf8a_7feeb725b63c_SM1598_00 The changes in the current asset and liability account for the year are as follows: 11eb79a5_9a21_99cb_bf8a_f35a4d96cdbd_SM1598_00 A. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. B. Briefly explain why net flow from operating activities is different than net income.

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

Edition 14ISBN: 978-1305653535

Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

Edition 14ISBN: 978-1305653535

Exercise 48

Cash flow form operating activities-indirect method
The income statement disclosed the following items for the year:

The changes in the current asset and liability account for the year are as follows:

A. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.
B. Briefly explain why net flow from operating activities is different than net income.

Explanation

Verified

a. Cash flows from operating activities,...