Sign In Sign Up Ask an AI advisor
macylen3900
macylen3900
30.04.2021 • 
Business

Lance Corp.'s Statement of Cash Flows for the year ended September 30, 20X4, was prepared using the indirect method and included the following: Net income $60,000 noncash adjustments: Depreciation expense 9,000 Increase in accounts receivable 5,000 Decrease in inventory 40,000 Decrease in accounts payable (12,000) Net cash flows from operating activities $92,000 Lance reported revenues from customers of $75,000 in its 20X4 Income Statement. What amount of cash did Lance receive from its customers during the year ended September 30, 20X4

Solved
Show answers

Ask an AI advisor a question

I want advice