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Indicate Whether Each of the Following Would Be Added to or Deducted

Question 153

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Indicate whether each of the following would be added to or deducted from net income in determining net cash flow from operating activities by the indirect method:

Premises:
Increase in salaries payable
Decrease in accounts receivable
Decrease in inventory
Increase in notes receivable due in 60 days
Increase in notes payable due in 30 days
Increase in prepaid expenses
Depreciation of fixed assets
Increase in income taxes payable
Amortization of discount on bonds payable
Loss on retirement of long-term debt
Amortization of patents
Gain on sale of fixed assets
Decrease in accounts payable
Responses:
deducted
added

Correct Answer:

Increase in salaries payable
Decrease in accounts receivable
Decrease in inventory
Increase in notes receivable due in 60 days
Increase in notes payable due in 30 days
Increase in prepaid expenses
Depreciation of fixed assets
Increase in income taxes payable
Amortization of discount on bonds payable
Loss on retirement of long-term debt
Amortization of patents
Gain on sale of fixed assets
Decrease in accounts payable
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