Question 22

Listed here are selected aggregate transaction for modern style furniture company from the first quarter of a recent year (dollar in million.

1. Recorded collections of cash from customers owed on open account of $40.8
2. Repaid 5.6 in principal on line of credit with a bank with principal payable within one year.

Complete the following table by entering the amount the amount of the effect of each transaction. Enter negative amounts with a minus sign. Consider each item independently.

Transaction Current Asset Gross profit current Liabilities Cash Flow from

Operating Activities

a. { ? }

b. {? }