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Homework answers / question archive / Depreciation and Cash Flow O'hare Company's only asset as of January 1, 2017, was a limousine

Depreciation and Cash Flow O'hare Company's only asset as of January 1, 2017, was a limousine

Accounting

Depreciation and Cash Flow

O'hare Company's only asset as of January 1, 2017, was a limousine. During 2017, only the following three transactions occurred:

Services of $111,100 were provided on account.

All accounts receivable were collected.

Depreciation on the limousine was $15,100.

Required:

2. Determine the amount of the net cash inflow for O'hare for 2017.

4. If O'hare developed a cash flow statement for 2017 using the indirect method, what amount would appear in the category titled Cash Flow from Operating Activities?

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