Excerpts from Aultman Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash...
Excerpts from Aultman Corporation's comparative balance sheet appear below:
| Ending Balance | Beginning Balance | |||||
| Cash and cash equivalents | $ | 62,000 | $ | 29,000 | ||
| Inventory | $ | 371,000 | $ | 345,000 | ||
| Accounts payable | $ | 71,000 | $ | 73,000 | ||
Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method?
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The change in Inventory is subtracted from net income; The change in Accounts Payable is subtracted from net income
-
The change in Inventory is subtracted from net income; The change in Accounts Payable is added to net income
-
The change in Inventory is added to net income; The change in Accounts Payable is added to net income
-
The change in Inventory is added to net income; The change in Accounts Payable is subtracted from net income
Homework Answers
Answer :- The correct answer is option A.
The change in inventory is subtracted from net income;The change in Accounts Payable is subtracted from net income.
| Ending balance | Beginning balance | Change | |
| Inventory | $371,000 | $345,000 | +$26,000 |
| Accounts payable | $71,000 | $73,000 | - $2,000 |
So if the balance of an asset increases, cash flow from operation will decrease, if balance of an liability is decrease the cash flow from operation will decrease.
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