You are given the following information for Thrice Corp.: Decrease in inventory $ 450 Decrease in...
You are given the following information for Thrice Corp.:
Decrease in inventory $ 450
Decrease in accounts payable 175
Increase in notes payable 160 Increase in accounts receivable 190
Did cash go up or down? By how much? Classify each event as a source or use of cash.
Homework Answers
Decrease in inventory is in the nature of a source of cash: $450
Decrease in accounts payable is in the nature of a use of cash: -$175
Increase in notes payable is in the nature of a source of cash: $160
Increase in accounts receivable is in the nature of a use of cash: -$190
Net cash position = $450 - $175 + $160 - $190 = $245
Net cash went up by $245.
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