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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:y courses / BUSS 104-1-20202 / MAKEUP TEST SCHEDULED FOR Thursda
E (06-05-2021 from 11:00 to 12: Noon)
The XYZ Company had the following income statement on
31.12.2020 Deprecation 5000 Net income 110000 OMR The
following accounts decreased during 2020: Accounts receivable
24000 inventory 18000 OMR, Rent payable 15000, Machinery 15000
OMR The following accounts increased during 2020:Notes
receivable 14000 Accounts Payable 8000 long term Bonds payable
30000 OMR Calculate cash flows from operating activities
Select one:
Oa. 149000 OMR
O b. NONE OF THESE
O c. 136000 OMR
O d. 145000 OMR
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- How does Accounts Payable impact Declan's Designs' 2022 Statement of Cash Flows?arrow_forwardCalculate the cash operating cycle of Stone Limited for the year ended 30 April, 2018 and 2019.arrow_forwardReporting Net Cash Flow from Operating Activities The following information is available for Bernard Corporation for 2019: Net income $199,000 Decrease in accounts receivable 6,400 Increase in inventory 18,300 Decrease in prepaid rent 2,100 Increase in salaries payable 4,410 Decrease in income taxes payable 4,270 Increase in notes payable (due 2023) 50,000 Depreciation expense 44,700 Loss on disposal of equipment 11,000 Required: Compute the net cash flows from operating activities using the indirect method.arrow_forward
- Question 4: XYZ Co. had the following information in 2020: Sales 150000 COGS 80000 Operating expenses (excluding depreciation) Interest expense 32000 8000 Таxes 3000 Increase in Accounts receivable 7000 Decrease in inventory Increase in Accounts payable Decrease in other payables Increase in interest payable Decrease in tax payable 4000 5000 3500 2000 1000 Prepare operating cash flows using direct method.arrow_forwardComment on the Cash flows from operating activities R756 000; Increase in receivables (R396 000) and Cash flows from investing activities (R1 368 000)arrow_forward
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