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In: Accounting

1.Assuming Net Income for the year is $235,000, what is the net cash flows from operating...

1.Assuming Net Income for the year is $235,000, what is the net cash flows from operating activities given the following information:

Increase in Salaries Payable $ 20,000
Depreciation Expense $ 9,000
Increase in Prepaid Rent $ 29,500
Loss on sale of asset $ 1,300
Increase in Accounts Payable $ 30,000
Increase in Inventory $ 54,000

2.Which of the following is an example of a cash outflow from an investing activity?

  • Payment of cash for treasury stock.

  • Payment of cash for the purchase of land.

  • Payment of cash for inventory.

  • Payment on a long-term note payable.

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ekkarill92 answered 1 year ago
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