Solution-Prepare the operating activities section of the

Prepare the operating activities section of the statement

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Reference no: EM13508172

Bracewell Company reported net income of $195,000 for 2014. Bracewell also reported depreciation expense of $40,000 and a gain of $5,000 on disposal of plant assets. The comparative balance sheet shows an increase in accounts receivable of $15,000 for the year, a $17,000 increase in accounts payable, and a $4,000 decrease in prepaid expenses.

Instructions:

Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).

Reference no: EM13508172

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Prepare the operating activities section of the statement

Reference no: EM13508172

Reference no: EM13508172

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