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Archy [21]
3 years ago
8

Assume net income was $210,000, depreciation expense was $6,200, accounts receivable decreased by $11,500, and accounts payable

decreased by $3,000. The amount of cash flows from operating activities is:
a 224,700
b 210,000
c. 208,300
d 216,200
Business
1 answer:
hram777 [196]3 years ago
8 0

Answer:

Amount of cash flow will be $224700

So option (a) is correct option

Explanation:

We have given net income = $210000

Depreciation expense = $6200

Account receivable is decreased by $11500

And account payable is decreased by $3000

We have to find the amount of cash flow

We know that amount of cash flow is given by

Cash flow = net income + Depreciation expense +amount which is decreased in account receivable - amount which is decreased in account payable

So cash flow = $210000+$6200+$11500-$3000 = $224700

So option (a) is the correct option  

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3 years ago
When the allowance method is used for bad debts, the entry to write off an individual account known to be uncollectible involves
Evgen [1.6K]

Answer:

debit to the Allowance account.

Explanation:

GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).

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3 years ago
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Answer:

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The operating expenses here, are = Advertising + Salaries + Utilities

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