Bracewell company reported net income of 195000 for 2014, Ask an Expert

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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.Prepare the operating activities section of the statement of cash flows for 2014. Use the indirect method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9956199

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