Presented below is the latest income statement of Minx Ltd.: In addition, the following information related to net changes in working capital is available: Minx Ltd. also reports that depreciation expense for the year was $ 68,500 and that the deferred tax liability account increased $ 13,000.
Instructions
Prepare a schedule calculating the net cash flow from operating activities that would be shown on a statement of cash flows:
a) using the indirect method.
b) using the direct method.

Question

Presented below is the latest income statement of Minx Ltd.:  In addition, the following information related to net changes in working capital is available:  Minx Ltd. also reports that depreciation expense for the year was $ 68,500 and that the deferred tax liability account increased $ 13,000.
Instructions
Prepare a schedule calculating the net cash flow from operating activities that would be shown on a statement of cash flows: 
a) using the indirect method.
b) using the direct method.

Quizplus · Accepted Answer

The Answer of Presented below is the latest income statement of Minx Ltd.:  In addition, the following information related to net changes in working capital is available:  Minx Ltd. also reports that depreciation expense for the year was $ 68,500 and that the deferred tax liability account increased $ 13,000.
Instructions
Prepare a schedule calculating the net cash flow from operating activities that would be shown on a statement of cash flows: 
a) using the indirect method.
b) using the direct method.

Presented Below Is the Latest Income Statement of Minx Ltd