A recent statement of cash flows for NewArt Company reported the following information Net income ................................................................ $452,700
Question:
Net income ................................................................ $452,700
Depreciation ................................................................. 68,000
Cash effect of changes in:
Accounts receivable ......................................................23,000
Inventory .................................................................... (15,500)
Other current assets ......................................................(8,800)
Accounts payable ........................................................ 20,000
Other current liabilities .............................................(197,000)
Net cash provided by operations ..............................$342,400
Based on the information presented in the statement of cash flows for New Art Company, determine whether the following accounts increased or decreased during the period: Accounts Receivable, Inventory, Other Current Assets, Accounts Payable, and Other Current Liabilities.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: