Ans. | SOFTWARE DISTRIBUTORS | |||
Statement of Cash Flows (partial) | ||||
Particulars | Amount | Amount | ||
Cash flow from operating activities: | ||||
Net income | $60,000 | |||
Adjustments to reconcile Net income to Net cash | ||||
provided by Operating Activities: | ||||
Less: Gain on sale of land | -$5,500 | |||
Add: Decrease in accounts receivable | -$30,000 | |||
Less: Increase in inventory | -$17,500 | |||
Less: Decrease in accounts payable | -$50,000 | |||
-$103,000 | ||||
Net cash (Used for) Operating Activities | -$43,000 | |||
*Explanations: | ||||
*Increase in current liabilities and Decrease in current assets other than cash is added to Net Income. | ||||
*Non cash & Non operating expenses are added to Net income. | ||||
*Non cash & Non operating income are deducted from Net income. | ||||
1.76 points Software Distributors reports net income of 500.000. Included in net income is a gain...
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