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Juli2301 [7.4K]
3 years ago
5

Please someone answer this for me. I will give brainliest points

Business
1 answer:
Ket [755]3 years ago
5 0
Your answer would be severity (:
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Westfall Industries began 2018 with accounts​ receivable, inventory, and prepaid expenses totaling $ 50 comma 000 and its total
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Answer:

The cash flows from operating activities for 2018 is $99,000.

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Westfall Industries

Statement of cash flows (extract)

Net income                                                 $81,000

Add Loss on the sale of land                        4,000

       Depreciation expense                           8,000

       Decrease in current asset                     2,000

       Increase in current liabilities                  4,000

Cash flows from operating activities      $99,000

  • Decrease in current assets was arrived at by comparing the closing balance of $48,000 to the opening balance of $50,000.
  • Increase in current liabilities was arrived at by comparing the closing balance of $40,000 to the opening balance of $36,000.

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