Pierce Company reported net income of $180,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:
Instructions
Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

Question

Pierce Company reported net income of $180,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:  
Instructions
Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

Quizplus · Accepted Answer

The Answer of Pierce Company reported net income of $180,000 for the current year. Depreciation recorded on buildings and equipment amounted to $80,000 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows:  
Instructions
Prepare the cash flows from the operating activities section of the statement of cash flows using the indirect method.

Pierce Company Reported Net Income of $180,000 for the Current