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Question: Simple Cash Flows from Operating Activities Hoogendoorn and Associates provides consulting services in Amsterdam. In 20X0, net income was € 230,000 on revenues of € 510,000 and expenses of € 280,000 (€ stands for euro, the European currency). The only noncash expense was depreciation of € 50,000. The company has no inventory. Accounts receivable increased by € 17,000 during 20X0, and accounts payable and salaries payable were unchanged. Prepare a statement of cash flows from operating activities. Use the direct method. Omit supporting schedules.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92650689

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