Question: Do you see a problem with this statement? Provide support for your answer to receive credit. What was the change in the cash balance in
Do you see a problem with this statement? Provide support for your answer to receive credit. What was the change in the cash balance in 2022? What assumption is QuickBooks making relating this statement? Statement of Cash Flows January - December 2022 TOTAL OPERATING ACTIVITIES Net Income 10,761.00 Adjustments to reconcile Net Income to Net Cash provided by operations: 106 Accounts Receivable (A/R) -25,410.00 107 Allowance for uncollectible accounts -367.00 109 Interest receivable -101.00 110 Notes Receivable -15,400.00 119 Merchandise inventory -6,092.00 126 Computer supplies -453.00 128 Prepaid insurance -4,880.00 131 Prepaid rent 0.00 156 Accumulated Depreciation - Building 1,350.00 164 Accumulated depreciationOffice equipment 2,275.00 168 Accumulated depreciationComputer equipment 9,900.00 201 Accounts payable 5,980.00 236 Unearned computer services revenue 2,000.00 237 Unearned rent 4,800.00 Total Adjustments to reconcile Net Income to Net Cash provided by operations: -26,398.00 Net cash provided by operating activities $ -15,637.00 INVESTING ACTIVITIES 150 Land -209,200.00 155 Buildings -266,730.00 163 Office equipment -52,070.00 167 Computer equipment -22,000.00 Net cash provided by investing activities $ -550,000.00 FINANCING ACTIVITIES 250 Mortgage Payable 521,430.00 307 Common stock 100,000.00 318 Retained Earnings 37,624.00 319 Dividends -3,600.00 Net cash provided by financing activities $655,454.00 NET CASH INCREASE FOR PERIOD
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Solution Yes there is a problem with the statement The statement shows a negative net cash provided ... View full answer
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