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Simora [160]
3 years ago
15

In its statement of cash flows issued for the year ending September 30, Berne Company reported a net cash inflow from operating

activities of $123,000. The following adjustments were included in the supplementary schedule reconciling cash flow from operating activities with net income:
Depreciation $38,000
Increase in net accounts receivable 31,000
Decrease in inventory 27,000
Increase in accounts payable 48,000
Increase in interest payable 12,000
Net income is
A. $41,000
B. $29,000
C. $79,000
D. $217,000
Business
1 answer:
Dafna1 [17]3 years ago
5 0

Answer:

B. $29,000

Explanation:

The cashflow from operating activities is calculated as below:

Cashflow from operating activities = Net income + Depreciation - Working capital investment

                                                          = Net income + Depreciation - (Change in inventories + Change in account receivables - Change in account payables)

Putting all the number together, we have:

123,000 = Net income + 38,000 - [(-27,000) + 31,000 - 48,000 - 12,000),

Solve the equation we get Net income = 29,000.

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<h3>Further explanation </h3>

Auto loan is a loan secured for the expressed purpose of purchasing a car. We can save money by paying off your car loan early. Because we are most likely more than halfway through our loan, most of our payment is currently going toward the principal.

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<h3>Answer details</h3>

Grade:  9

Subject:  business

Chapter:  car

Keywords:  the market for a car, money,  the best transportation option, saving, auto loan.

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