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MAXImum [283]
2 years ago
12

Lucia Ltd. reported net income of $135,000 for the year ended December 31, 2016. January 1 balances in accounts receivable and a

ccounts payable were $29,000 and $26,000, respectively. Year-end balances in these accounts were $30,000 and $24,000, respectively. Assuming that all relevant information has been presented, Lucia's cash flows from operating activities would be:
$132,000.
$134,000.
$136,000.
$138,000.
Business
1 answer:
tester [92]2 years ago
4 0

Answer:

Lucia's cash flows from operating activities would be:

$132,000.

Explanation:

Accounts Receivable  End: $30,000  Beginning: $29,000 = -$1,000  

Accounts Payable    End: $24,000  Beginning: $26,000 = -$2,000  

Net Income : $ 135,000

To calculate the total cash flow from operating activities it's necessary to deduct of the Net Income the variance of these accounts which indicates a negative variance during the year, -$2,000 on accounts payable because the company paid more bills these year than before, and -$1,000 because the company expand their credit line to customers.

Cash Flow: $135,000 - $1,000 - $2,000 = $132,000.

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