Compute the amount of cash provided by indirect method


Garagiola Company had net income in the current year of $ 430,000. Depreciation expense for the year totaled $ 67,000. During the year the company experienced an increase in accounts receivable ( all from sales to customers) of $ 35,000 and an increase in accounts payable ( all to suppliers) of $ 56,000.

Compute the amount of cash provided by or used for operating activities by the indirect method.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Compute the amount of cash provided by indirect method
Reference No:- TGS069487

Expected delivery within 24 Hours