Witbey Printing Ltd.'s year end is February 28. The accounting records of Witbey Printing Ltd. at March
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Compute Witbey Printing Ltd.'s net cash inflow or outflow from operating activities during March 2014. Use the indirect method. Does Witbey Printing Ltd. have trouble collecting receivables or selling inventory? How can you tell?
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Cash Accounts Receivable Mar. 1 Collections 126,000 Payments 138,000 Sales 228,000 Collections 126,000 Mar. 31 75,000Dividend 24,000 Mar 54,000 39,000 Mar. 3 156,000 Inventor Equipment Mar. 1 Purchases 111,000 Cost of sales 108,000 Mar. 31 279,000 Mar. 31 57,000 Mar. 1 279,000 60,000 Accumulated Amortization-Equipment Accounts Payable Mar. 1 Mar. 1 42,000 Amortization 9,000 Payments 96,000Purchases 111,000 57,000 78,000 Mar. 31 87,000 Mar. 31 Accrued Liabilities Retained Earnings Mar. 1 Mar. 1 27,000 Quarterly 33,000 dividend 24,000Net income 69,000 18,000 192,000 Payments 42,000 Ex Mar. 31 Mar. 31 237,000
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Cash flows from operating activities Net income 69000 A...View the full answer
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Accounting
ISBN: 978-0132690089
9th Canadian Edition volume 2
Authors: Charles T. Horngren, Walter T. Harrison Jr., Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
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