Selected accounts from the SFP of Tabby Ltd. at 31 December 20X7 and 20X6 are presented below.

Question:

Selected accounts from the SFP of Tabby Ltd. at 31 December 20X7 and 20X6 are presented below. Tabby reported earnings of $125,000 in 20X7, and depreciation expense was $20,000.

As at 31 December 20X7 20X6 Prepaid insurance $ 4,000 $16,000 Inventory 72,000 68,000 Rent payable 2,000 5,000 Pension liability 61,000 46,000

Required:

Calculate cash from operating activities for 20X7.

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Intermediate Accounting Volume 1

ISBN: 9781260306743

7th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick

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Question Posted: Jun 26, 2020 08:14 AM

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Selected accounts from the SFP of Tabby Ltd. at 31 December 20X7 and 20X6 are presented below.

Question:

As at 31 December 20X7 20X6 Prepaid insurance $ 4,000 $16,000 Inventory 72,000 68,000 Rent payable 2,000 5,000 Pension liability 61,000 46,000

Step by Step Answer:

Operating activities Net earnings 125000 Adjustments ...View the full answer

Intermediate Accounting Volume 1

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