Fly Incorporated reported profit of $ 250,000 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 operating activities section of the cash flow statement, using the indirect method.

Question

Fly Incorporated reported profit of $ 250,000 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 operating activities section of the cash flow statement, using the indirect method.

Quizplus · Accepted Answer

The Answer of Fly Incorporated reported profit of $ 250,000 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 operating activities section of the cash flow statement, using the indirect method.

Fly Incorporated Reported Profit of $ 250,000 for the Current